(Alliance News) - Genel Energy PLC on Friday said it has received USD8.5 million in payments from the Kurdistan regional government for oil sales during May.
The London-headquartered oil production company said that the regional government paid Taq Taq partners a total of USD3.4 million, with Genel's net share amounting to USD1.9 million.
It added that the Tawke field partners have received a gross payment of USD26.8 million with Genel's share being USD6.6 million.
Genel stock was trading 0.5% lower at 123.00 pence each on Friday morning in London and is down 35% since the start of the year.
By Ife Taiwo; ifetaiwo@alliancenews.com.
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Genel Energy (GENL)