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Gulf Keystone gets additional $7 million payment for Kurdistan oil exports
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Workers adjust a valve of an oil pipe in Tawke oil field near Duhok, Kurdistan region of Iraq. Photo: Reuters
LONDON,— Gulf Keystone Petroleum GKP said on Wednesday it has received a further gross payment of $8 million from Iraq’s Kurdistan Regional Government KRG for Shaikan crude oil exports in May 2016, bringing the total payment received to date to $15.0 million gross.
This is the second instalment of the invoiced amount for May 2016 with the balance expected to be paid shortly.
On June 27, GKP has[You must be registered and logged in to see this link.] 8 million from KRG for Shaikan crude oil exports in May 2016.
The company said last March it was still owed [You must be registered and logged in to see this link.] by the KRG for oil exports and costs related to the Shaikan oil field. The KRG still owes oil companies billions of dollars for oil exports.
Gulf Keystone shares [You must be registered and logged in to see this link.] on April 14 after the cash strapped Kurdistan oil producer revealed output from the Shaikan field would go into decline without new investment.
Earlier this month a group of GKP’s lenders have further [You must be registered and logged in to see this link.] leeway to the Iraqi Kurdistan oil firm until July 1.
[You must be registered and logged in to see this link.]
Posted on [You must be registered and logged in to see this link.] by [You must be registered and logged in to see this link.] in [You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
Workers adjust a valve of an oil pipe in Tawke oil field near Duhok, Kurdistan region of Iraq. Photo: Reuters
LONDON,— Gulf Keystone Petroleum GKP said on Wednesday it has received a further gross payment of $8 million from Iraq’s Kurdistan Regional Government KRG for Shaikan crude oil exports in May 2016, bringing the total payment received to date to $15.0 million gross.
This is the second instalment of the invoiced amount for May 2016 with the balance expected to be paid shortly.
On June 27, GKP has[You must be registered and logged in to see this link.] 8 million from KRG for Shaikan crude oil exports in May 2016.
The company said last March it was still owed [You must be registered and logged in to see this link.] by the KRG for oil exports and costs related to the Shaikan oil field. The KRG still owes oil companies billions of dollars for oil exports.
Gulf Keystone shares [You must be registered and logged in to see this link.] on April 14 after the cash strapped Kurdistan oil producer revealed output from the Shaikan field would go into decline without new investment.
Earlier this month a group of GKP’s lenders have further [You must be registered and logged in to see this link.] leeway to the Iraqi Kurdistan oil firm until July 1.
[You must be registered and logged in to see this link.]
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