Genel Energy Partners Get USD10 Million Kurdistan Government Payment

LONDON (Alliance News) - Genel Energy PLC Monday said that its partners for the Taq Taq field in ...

Alliance News 20 June, 2016 | 2:12PM
Email Form

LONDON (Alliance News) - Genel Energy PLC Monday said that its partners for the Taq Taq field in Kurdistan received a payment of USD10 million from the Kurdistan Regional Government for oil sales in May.

Genel's net share of that payment is USD5.5 million.

This payment reflects part of the invoiced amount of USD25.2 million for May's Taq Taq oil sales. The balance is expected to be paid shortly.

Gross sales from the field in May averaged 63,697 barrels of oil per day, and the average Brent price was USD46.88 a barrel.

Shares in Genel Energy were up 5.5% at 144.00 pence Monday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2016 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Genel Energy PLC 138.00 GBX 0.00 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies