Iraq's Kurdistan Oil Payments at Risk Over Independence Tensions
- Gulf Keystone, Genel, DNO, Shamaran got paid for summer sales
- Investors need to watch post-referendum oil payments, RBC Says
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Iraq’s Kurdish region handed over almost $80 million to foreign oil producers over the past two days, but future payments may be at risk.
Gulf Keystone Petroleum Ltd., Genel Energy Plc, DNO ASA and ShaMaran Petroleum Corp. reported payments from the Kurdistan Region Government on Thursday and Friday for sales of crude in July and August. Political tensions after the region’s independence referendum on Sept. 25 disrupted crude flows, meaning all eyes will be on payments for October and November, said Al Stanton, an analyst at RBC Europe Ltd.