Genel to keep crude exports after KRG received oil payment from Baghdad
- Iraq: Tuesday, October 09 - 2012 at 03:29
Genel Energy, the leading oil producer in Iraqi Kurdistan, has said it would keep crude exports flowing after the Kurdistan Regional Government (KRG) finally received an initial payment from Baghdad, Reuters has reported. Iraq's finance ministry issued an initial payment early last week, but the funds had not landed in the KRG account by Friday, prompting Genel to say it would halt exports if the money did not arrive soon. On Monday, the first instalment of $558.9m was received, a KRG spokesman said. "We won't cut exports now," president of Genel Energy, Mehmet Sepil, told the news service. "The KRG will reconcile (the payments) with all the contractors, and then we will get paid."
- Qatar Airways wants to be 777X launch customer,...
- KAC inks 25 Airbus aircraft deal
- IMF tells Bahrain to 'urgently' cut public debt
- Du launches BlackBerry Q10 4G in UAE
- Samsung Electronics Levant and BCI launch...
- BBM coming to iPhone and Android this summer
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.