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MOL says oil exports from Shaikan block temporarily suspended

Reuters - UK Focus

BUDAPEST, Feb 6 (Reuters) - Hungarian oil and gas group MOL said on Friday that exports of crude by truck from the Shaikan block in Iraqi Kurdistan has been temporarily suspended.

MOL also said, in line with an announcement by Gulf Keystone Petroleum, that it was selling oil on the local market as a temporary measure until there were steady payments for exports.

"This is expected to be a short-term measure until a regular payment cycle can be established for sales via the export route," MOL said in the statement. "Partners (Other OTC: PGPHF - news) are actively working towards an early pipeline access solution for Shaikan crude."

MOL has a 20 percent working interest in the Shaikan block, where Gulf Keystone is the operator. (Reporting by Krisztina Than. Editing by Jane Merriman)