Oil companies in the region to warn Government of continued delay paying their dues

2016-09-25 11:41

Pursue balance news

Keystone Golf companies warned weginil Energie oil, the territorial Government to delay financial title over it will disrupt the development of oil fields in Iraqi Kurdistan.

Keystone Golf announced that one of the three largest oil producers in the region and the company President, working in the field of oil produced daily 40 thousand barrels of oil, about the surprise delay their dues, you need a company that Energie ginelle delay their dues for the months of July and August.

Natural resources Ministry said the Kurdistan Regional Government in an earlier statement that it applied a new system in 2016 to calculate wages given corporations net oil revenues in each individual oil field, calculate the price difference between Brent oil, oil territory and after deduction of transport expenses.

It also announced that it will leave the 5% of the net profits of each oilfield operating companies to offset the remaining dues owed the Government.

Company's financial Director said ginelle Energie between Monahan in addressing Gallery oil Conference in the Norwegian capital Oslo that the territorial Government was committed to paying financial receivables fine previously, but it obscured the receivables since August