Kurdistan to cut payments to producers

payments kurdistan producers krg pay
Gulf

Kurdistan to cut payments to producers

Kurdistan has told producers that it is cutting payments for oil production, in light of continued pressure from COVID-19.

Gulf Keystone Petroleum, Genel Energy and DNO issued statements this morning on the move. Neither company has accepted the terms. They have said they expect to hold talks with the government.

The Kurdistan Regional Government (KRG) has proposed an amendment for terms starting with the March 2021 production invoice.

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