Genel Energy Receives Payments for KRI Oil Sales

Source: www.gulfoilandgas.com 4/11/2022, Location: Middle East

Genel Energy plc announces that all payments have now been received from the Kurdistan Regional Government (‘KRG’) relating to oil sales during December 2021.

Following the receipt of the receivable recovery payment, Genel is now owed $97 million from the KRG for oil sales from November 2019 to February 2020 and the suspended override from March to December 2020. The reduction from the figure stated on 11 March 2022 is due to the offsetting of payables due to the KRG, as noted in our 2021 full-year results.


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