Monday 3 December 2012

Oil groups receive Kurdistan payments - FT.com

Two companies that produce oil in Iraqi Kurdistan, Genel Energy and DNO International, said they had received long-delayed payments for oil exports from their Kurdish fields, ending a long wait that had unnerved investors.
But DNO’s share price fell in trading in Oslo, reflecting disappointment at the size of the payment.
DNO, based in Norway, and Genel, which is run by the former head of BP Tony Hayward, have been the casualties of a dispute between the Iraqi central authorities in Baghdad and the Kurdistan Regional Government over oil and land rights in the autonomous region.

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