Related Articles
Forward article link
Share PDF with colleagues

KRG promises September payments to IOCs

The Kurdistan Regional Council for Oil & Gas Affairs expects the first tranche of regular payments to be made available to IOCs in the first half of September 2015

One such, Norway’s DNO, calculates it is owed $947m. According to a statement by the natural resources ministry, the council has approved the allocation of $75m-$100m of the revenue from the KRG’s direct crude oil sales as payment on account to the exporting IOCs, to be distributed in broad proportion to the companies contributions.  The statement said also that: “It is further recognized that with the steep fall in the price of oil, it is difficult for the international oil companies to sustain oil export at current levels without receiving some of their financial dues on a predictable basis. Regular payments will allow the exporting companies to cover their ongoing expenses and plan for

Also in this section
Serica sanguine on Iran sanctions
13 July 2018
The firm's historic links to Iran are in the spotlight as US sanctions resume
The return of cautious optimism in the North Sea
13 July 2018
The UK’s North Sea hub, braced for production declines, has received a boost from new investments and revived interest from the supermajors
China loans make Venezuela’s outlook more precarious
12 July 2018
Patience is wearing thin among both China and other trading partners