2nd Apr 2020 18:05
(Alliance News) - Genel Energy PLC on Thursday said it had received full payment from the Kurdistan Regional Government for oil sales during October 2019.
The oil production company said that the regional government paid Taq Taq partners a total of USD10.3 million, with Genel's net share amounting to USD5.6 million.
Genel also said it has received an overrride payment of USD8.6 million, representing 4.5% of the Tawke field gross licence revenues for October.
Th London-headquartered company said that together with the recently-received payment for Tawke licence exports in the month, it has received a total of USD33 million in relation to exports in October.
Shares in Genel closed 13% higher at 99.00 pence each on Thursday in London.
By Ife Taiwo; [email protected]
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