The semi-autonomous region of Kurdistan in Iraq will defer payments to oil companies operating in the region for the oil sales they had made between November 2019 and February 2020, one of those companies, London-listed Genel Energy plc said on Friday, as Iraq and the Kurdistan region are struggling to meet their obligations after the oil price crash. Genel Energy, which has interests in three producing fields in the Kurdistan Region – Taq Taq, Tawke, and Peshkabir – has received payment for the oil sales in March 2020, the company said today. Yet, the Kurdistan Regional Government (KRG) had proposed to Genel Energy to defer the payments due for the period between November last year and February this year, interest-free, for at least nine months. “Should the oil price recover to c.$50/bbl, a payment programme to recover the deferred invoices will be put in place,” Genel Energy said. “Genel […]