Market Reaction: Slightly positive. While we appreciate the gross payments have dropped about 23-25% compared to January, the reduction is not as steep as we feared given the context of extended pipeline shutdown and the constrained contribution from fields from Kirkuk operated by NOC. These events could have impacted the amounts that the KRG would have been willing to pay DNO and Genel. Genel received a total of US$8.3 mm for export payment in February. This includes US$1.4 mm for receivable
22 Mar 2016
RECEIPT OF PAYMENT FOR EXPORT IN KURDISTAN
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RECEIPT OF PAYMENT FOR EXPORT IN KURDISTAN
Genel Energy PLC (GENL:LON) | 83.6 -0.1 (-0.1%) | Mkt Cap: 233.4m
- Published:
22 Mar 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Slightly positive. While we appreciate the gross payments have dropped about 23-25% compared to January, the reduction is not as steep as we feared given the context of extended pipeline shutdown and the constrained contribution from fields from Kirkuk operated by NOC. These events could have impacted the amounts that the KRG would have been willing to pay DNO and Genel. Genel received a total of US$8.3 mm for export payment in February. This includes US$1.4 mm for receivable