Oil firm says no Iraq payment yet

Norwegian oil company DNO, the first to drill in post-war Iraq, has said it has yet to receive payment for its oil exports from the country.

The payments have stalled as DNO’s partner, the Kurdistan Regional Government, and Baghdad argue over how to share the oil revenue.

DNO launched export production from the Tawke oil fields on 1 June, ramping up its output to 50,000 barrels per day and exports to 45,000, which is worth some $100m per month.

It said it will export 50,000 barrels per day when its oil is eventually pumped into the Iraq export pipeline system near the Turkish border.

The company could provide no timeframe for when it may receive the payments, but Mr Eide said the Kurdish government said it hoped it would reach a deal soon.

BBC