Genel Energy has put all exploration work on hold for this year to rein in costs, the London-listed oil producer said waits nearly $400 million in oil sales payments from the Kurdistan Regional Government (KRG).
Crude exports from Iraq's northern Kurdish region have dropped to 50,000-60,000 barrels per day from 160,000 bpd since late last month, several Iraqi government sources said on Saturday.
The reason for the decline was unknown, they sai
Norwegian oil company DNO International is restarting operations in northern Iraq after settling a dispute with Kurdish authorities, it said, sending its shares soaring.
However, DNO said it would no longer export oil from the Kurdish regi
Iraq's oil minister said oil firms which have signed contracts with the Kurdistan regional government (KRG) in northern Iraq would be barred from doing deals with the central government.
"Absolutely, we are considering that and we are alre