Default Kurdistan oil sales hit $3bn, to pay producers: Reuters


Date: Saturday, November 08, 2014
Source: IranOilGas.com

Kurdistan oil sales hit $3bn, to pay producers: Reuters

Iraqi Kurdistan has sold 34.5 million barrels of oil worth almost $3 billion since January, the Kurdistan Regional Government said, despite opposition from the federal government to independent oil sales from the region.

The KRG said in a statement on Friday that it would make an initial payment of $75 million to oil producing companies for their exports and would make further payments on a regular basis, sparking a rally in producers’ share prices.

Companies producing oil in the semi-autonomous region include the UK’s Genel Energy, Gulf Keystone Petroleum and Afren, and Norway’s DNO. Shares in Gulf Keystone rose by more than 6 percent, and Genel shares rose more than 3 percent.

http://www.iranoilgas.com/news/detai…20&restrict=no

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s