Despite the general nightmare plaguing the sector with the oil price fall there was some very good news yesterday for Genel. The KRG released a statement saying that now that it has largely taken control of oil exports from the Kurdistan region it is intending to “on a monthly basis allocate a portion of the revenue from its direct crude oil sales to the producing international oil companies”. This is great news for Genel and other contractors as it is a strong indication from the
04 Aug 2015
KRG oil payments statement
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KRG oil payments statement
Genel Energy PLC (GENL:LON) | 84.0 -1.2 (-1.6%) | Mkt Cap: 234.8m
- Published:
04 Aug 2015 -
Author:
Daniel Slater, CFA -
Pages:
3
Despite the general nightmare plaguing the sector with the oil price fall there was some very good news yesterday for Genel. The KRG released a statement saying that now that it has largely taken control of oil exports from the Kurdistan region it is intending to “on a monthly basis allocate a portion of the revenue from its direct crude oil sales to the producing international oil companies”. This is great news for Genel and other contractors as it is a strong indication from the