A statement from the Ministry of Natural Resources in the capital Erbil said that the Kurdistan Regional Council for Oil & Gas Affairs "expects the first tranche of regular payments to be made available to the exporting companies during the first half of September".
The Ministry said the Council has "approved the allocation of $75 million to $100 million of the revenue from the Kurdistan Regional Government's (KRG) direct crude oil sales as payment on account to the exporting international oil companies (IOCs), to be distributed in broad proportion to the companies' past and present contributions to export".
The
