Genel reduced its forecast after dues Kurdistan has exceeded $ 400 million

Twilight News / Genel Energy -ohd company / said the major oil producers in the Kurdistan region of Iraq on Tuesday it lowered the outlook for future revenues and volume pilot production this year after reduced production from fields due to lack of oil export payments and weak prices.

Genel and future outlook lowered to the level of production in 2015 between five thousand and ten thousand barrels per day to between 85 thousand and 90 thousand barrels per day.

It also cut its forecast of revenue for the year to between 350 million and $ 375 million based on the price of $ 50 for a barrel of Brent crude oil.

The company said the dues to the Government of the Territory amounted to 409 million dollars in the Sept. 30 match the exported oil from its fields.

She said she expects an imminent payments valued at $ 24.5 million, compared to oil exported in September, according to the Reuters reported.