Thursday 28 May 2020

The Kurdish Crush


The Kurdistan producers are in a tough spot brought about by COVID-19 and the collapse in oil prices. Earlier this year, the KRG said it would delay payments in respect of October 2019 to February 2020 deliveries as its cash to pay producers was stuck in a Lebanese bank account with the bank itself facing liquidity issues.

The KRG had struck a deal to pay producers for the backlog later in 2020. Payments in respect sales from March 2020 were not affected and continue to be paid. However at the current low oil prices, payments to producers have slumped.

Tawke: Received USD8.5 million for April deliveries split between partners DNO and Genel. This compares to the March payment of USD34.6 million.

Taq Taq: Received USD1.9 million, down from USD4.6 million in March with Genel's net share of the payment being USD1.1 million.

Shaikan: Gulf Keystone had submitted an invoice to the KRG for a nil amount as the realised price was negative with the Shaikan crude/transportation discount being below Brent.

4 comments:

  1. Dear Customers,

    We invite you all to participate in our new business and project funding program, We are currently funding for Business start-up Business developments, Business acquisition Business expansion, Project funding, and Working capital, etc.

    This Funding program allows a client to enjoy a 3% low-interest rate and payback period of 1 to 35 years. We can approve a loan/funding for up to $500,000,000.00 or more depending on the nature of the business we are currently funding for and we satisfy our customers’ financial needs and help them succeed

    Application Available
    Apply via E-mail: standardonlineinvestment@gmail.com
    Regards,
    Mr. Hameed Youssef
    Marketing Manager
    Standard Online Finance Company Limited

    ReplyDelete
  2. My name is Samuel, I was in love with my wife and we were married for eight years with a son his is Liam,I loved my wife so much she had access to all my bank account and even my cash app which my accountant agreed to and said it was a great idea, then it took my wife and my accountant two month to get hold of all my properties,all accounts but I had a cash app which they knew nothing about,I was thrown out of my own house was sleeping in a hotel for weeks she also took possession of my son could only see him once a week then I found out she was in love with my accountant all these while so I went online and I came across a private investigator who help me get all my properties and my accounts back even my company back how he did these I don’t know but I gave all the information he asked for and followed all his instructions and now I’m happy my life’s better now.
    Thanks to premiumhackservices@gmail.com
    I just said I should share my own story here
    Thank you

    ReplyDelete
  3. Dear Customers,

    We invite you all to participate in our new business and project funding program, We are currently funding for Business start-up Business developments, Business acquisition Business expansion, Project funding, and Working capital, etc.

    This Funding program allows a client to enjoy a 3% low-interest rate and payback period of 1 to 35 years. We can approve a loan/funding for up to $500,000,000.00 or more depending on the nature of the business we are currently funding for and we satisfy our customers’ financial needs and help them succeed

    Application Available
    Apply via E-mail: standardonlineinvestment@gmail.com
    Regards,
    Mr. Hameed Youssef
    Marketing Manager
    Standard Online Finance Company Limited

    ReplyDelete
  4. We provide personal loans for debt consolidation, bad credit

    loans, unsecured loans, loans for bad credit and instant

    secured loans with cheap rates Do you have a firm or company

    that need loan to start up a business or need,personal loan,

    Debt consolidation? For more information. We will provide

    you with loan to meet your needs. For more information

    contact Note: We offer the following loans to individuals-
    *Commercial Loans.
    *Personal Loans.
    *Business Loans.
    *Investments Loans.
    *Development Loans.
    *Acquisition Loans .
    *Construction loans.
    *Business Loans And many More:
    and many more at 2% interest rate;(Whats App) number:
    +919394133968 patialalegitimate515@gmail.com
    Mr Sorina Jeffery

    ReplyDelete