(Alliance News) - Oil production companies Genel Energy PLC and Gulf Keystone Petroleum Ltd on Tuesday said they received payment from the Kurdistan regional government for June oil sales.
Genel said it has received USD9.8 million in payments. The London-headquartered company reported that the regional government paid the Taq Taq field partners a total of USD4.5 million, with Genel's net share accounting for GBP2.4 million of the payment.
Additionally, the Tawke field partners received a gross payment of GBP30.2 million, with Genel's share totalling GBP7.4 million.
Gulf Keystone said Kurdistan paid USD9.6 million for Shaikan crude oil sales in June, with USD7.6 million net to Gulf Keystone.
Genel shares were up 0.6% at 145.20 pence each on Tuesday morning in London, while Gulf Keystone was down 1.0% at 95.10p.
By Neetika Kurup; neetikakurup@alliancenews.com
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Gulf Keystone Petroleum (GKP)
Genel Energy (GENL)