Northern Iraq’s Kurdistan Regional Government (KRG) has completed payments to international oil companies (IOCs) for November oil exports, following Anglo-Turkish independent Genel Energy’s 14 December confirmation that it had received a $30mn payment to split with China’s Sinopec, its partner at the 130,000 b/d Taq Taq field.

However, the payment was considerably delayed, and with the KRG’s already strained economy set to take a further hit from the post-Opec...