Thursday 27-08-2015 | 12:05:11
Twilight News Kurdistan Region / said on Thursday he expected the start of the regular payment of dues of Petroleum Exporting companies in the first half of September in an apparent attempt to reassure foreign oil companies operating in the semi-autonomous region.
The Ministry of Natural Resources and the province said in a statement that 75 to 100 million dollars of direct crude oil sales revenues will be allocated as payments under the account of the companies.
And it increased the region independent sales since mid-June, while reducing the allocations of the Iraqi Oil Marketing Company (SOMO) in an escalation of a dispute over export rights and the balance of payments caused the non-payment of dues companies.
The statement said that "regular payments will allow exporting companies to cover ongoing expenses and planning for more investment in oil fields, thus enhancing the production."
The statement added that "with the increase in oil exports at the beginning of 2016 expects the Kurdistan Regional Government to provide additional revenues for international oil companies to be able to start getting past entitlements under production sharing contracts with them."
She Gulf Keystone Petroleum Corporation on Thursday that the Kurdistan Regional Government owes it the amount of $ 283 million for oil sales and other costs.
June was the first month witnessed large independent sales since last December when the region reached an agreement with Baghdad for the transfer of 550 thousand barrels per day on average in 2015 compared to resume budget payments.
Were exported 516 thousand and 745 barrels per day on average from the region in July through a pipeline to the Turkish port of Ceyhan on the Mediterranean Sea did not get Sumo only on 71 and 17 thousand barrels per day from them.
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