January 8, 2020 / 12:45 PM / 13 days ago

Oil producers Genel, Gulf Keystone receive delayed payments from KRG

LONDON (Reuters) - London-listed oil and gas producers in the Iraqi Kurdistan region, Genel (GENL.L) and Gulf Keystone (GKP.L), received delayed payments from the Kurdish Regional Government (KRG), the companies said on Wednesday.

The payments for the month of August, which are due to the companies as part of their production sharing contracts with the KRG, were delayed by a few weeks, the firms had said last month.

Gulf Keystone said it received a gross payment of $21.7 million (16.51 million pounds) from the KRG for Shaikan crude oil sales during August.

Genel said it received a $6.7 million gross payment for August sales from the Taq Taq field from the KRG.

Company representatives said the payments covered the full amount due for August.

Reporting by Shadia Nasralla, editing by Louise Heavens

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