Kurdistan allocates $ 75 million to repay three oil companies

Twilight News - Kurdistan Regional Government of Iraq / said on Monday it had allocated $ 75 million in direct sales of crude oil revenues for the three international oil companies dues disrupted by the dispute between Arbil and Baghdad.

The Ministry of Natural Resources of the Kurdistan province in a statement that both of my company Genel Energy and DNO will receive $ 30 million, while Gulf Keystone will get $ 15 million.

The ministry added that the payments will be transferred to the accounts of companies within seven days.

And it increased the Kurdistan Regional Government of independent sales since mid-June, while the reduced allocations for the Iraqi Oil Marketing Company (SOMO) amid an escalating dispute over export rights and payments led to non-payment of dues companies.

Government of the Territory and has pledged to begin regular payment of dues of up to $ 100 million to oil-exporting companies.

Last week, the Ministry of Natural Resources said that oil exports from northern Iraq have fallen by about 44 thousand barrels per day in August to reach 472 thousand and 832 barrels per day on average due to a prolonged disruption of pipeline to Turkey.

And Norway's DNO shares jumped 5.6 percent, while Genel shares climbed 4.5 percent and Gulf Keystone 1.5 percent after the issuance of the statement.