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BUZZ-Kurdish oil producers: rally on news of pre-payment deals

Reuters - UK Focus

** Stocks of oil producers active in Iraq's Kurdistan rise after Reuters reports details of oil pre-payment deals between Kurdistan, trading houses and Rosneft

** Genel Energy (Other OTC: GEGYF - news) +6.5 pct, DNO +3.2 pct and Gulf Keystone +1.3 pct by 1530 GMT - outperforming weaker Brent oil prices

** Several traders and analysts looking at Kurdish oil producers cite the Reuters report as the reason behind the stocks' strength. "The (DNO (LSE: 0MHP.L - news) ) shares rose because of reports on the $3 bln pre-payment," said Trond Omdal from Pareto Securities

** Reuters reports on Tuesday Kurdistan has agreed grace period of 3-5 years on $3 bln of pre-payments deals for its oil with its resources minister saying it should allow Kurdistan to pay more regularly to international oil companies working in the semi-autonomous region (RM (LSE: RM.L - news) :dmitri.zhdannikov.thomsonreuters.com@reuters.net)