Petro Matad says PetroChina Mongolia cannot process invoices pending talks
Petro Matad said PetroChina Mongolia is unable to process its invoices pending internal discussions, and has instructed Petro Matad to cease Block XX deliveries, shutting in Heron-1 and Gazelle-1 wells.
Petro Matad Ltd said on Sept 22 that PetroChina Mongolia cannot process Petro Matad invoices while internal discussions continue over the 2026 oil sales agreement. The company said PetroChina Mongolia has instructed Petro Matad to stop Block XX deliveries, and the Heron-1 and Gazelle-1 wells have been shut in. Petro Matad said it has raised the issue with Mongolia's deputy prime minister and has held a meeting with PetroChina Mongolia. The company added that it is pursuing discussions with prospective buyers for alternative routes to market.