DNO, Genel paid for Kurdish oil exports by Daniel J. Graeber Oslo, Norway (UPI) Feb 8, 2016
Two partners working in the Kurdish north of Iraq, DNO International and Genel Energy, said they received their regular payments for crude oil exports. "The payment, to be shared pro-rata by DNO and partner Genel Energy plc, includes $17.99 million toward the monthly entitlement for January exports and $3.46 million toward the recovery of outstanding entitlements for past deliveries," the companies said in a joint statement. The two companies combined for an average 119,390 barrels of crude oil exported from the Tawke field in the Kurdish region of Iraq in January. The companies offered no specifics on what was owed in terms of outstanding arrears, though the lack of payments from the Kurdish government last year put pressure on oil field operations. Last week, British company Genel Energy said it received a gross payment of $16.3 million from the Kurdish government for oil exported through a pipeline through Turkey. Genel provided no information on export volumes. On Thursday, the Kurdish government, while offering few specifics, said it was coping with a regional financial crisis. Kurdish leader Masoud Barzani, meanwhile, said "the time has come" to consider full statehood for the Kurdish north. The Kurdish government in Erbil has been odds with Baghdad over its share of oil revenue. The semiautonomous Kurdistan Regional Government started independent oil sales in June, averaging earnings of around $682 million per month. Security issues associated with the fight against the terrorist group calling itself the Islamic State pose risk factor for the region. The State Department issued a travel alert for southern Turkey last week because of violence in the region.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |