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Gulf Keystone says receives KRG payment for July oil exports
September 29, 2016 / 4:15 PM / a year ago

Gulf Keystone says receives KRG payment for July oil exports

LONDON, Sept 29 (Reuters) - Gulf Keystone Petroleum, one of the foreign oil firms present in Iraqi Kursdistan, has received a long-awaited $15 million payment from the Kurdistan Regional Government (KRG) for oil sales in July, the company said on Thursday.

This follows news from fellow producer Genel on Wednesday that the KRG had paid partners in the Taq Taq oil field for July oil exports.

Gulf Keystone said it was continuing discussions with the government about invoices from May, June and July.

The company, which is in the middle of a debt-for-equity restructuring, now has a cash position $79.6 million following the KRG payment, it said. (Reporting by Karolin Schaps; Editing by David Goodman)

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