Tag Archive | "Genel Enerji"

Dunia Weekly Iraq Market Tracker


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Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications.

Click here to access the report.

Companies Mentioned:

Calik Energy, Dana Gas, DNO, Exxon, Genel Energy, Gulf Keystone, KAR Group, WesternZagros

Action Calls:

  • Market Tracker to transition to subscription-only service: Market Tracker available in two subscription offerings after 25 June.
  • Kurdish pipeline plan: next moves: What to expect from Baghdad, Erbil, and Kurdish oil companies.
  • WesternZagros’ Kurdamir-2 more than doubles oil potential in Eocene reservoir: Positive news flow continues, but shares may react more to Baghdad-Erbil.

Headlines:

  • Sadr called to Iran for consultation: No confidence not likely to succeed anyways, but shows importance of Iraqi stability to Iran.
  • Maliki looks to expand Tribal Support Councils: Maliki already plumping for coming elections with grassroots, bypassing politicians.
  • KAR signs massive Kurdish power plant deal: Kurdish development continues to accelerate.

Calendar Events Discussed:

  • June 21 – Parliament returns from 7 week break

Click here to access the report, or to add your email address to Dunia’s mailing list to receive the Iraq Market Tracker via email.

 

Posted in Banking & Finance, Construction & Engineering, DFC Market Tracker, Industry & Trade, Investment, Oil & Gas, Politics, SecurityComments Off

Dunia Weekly Iraq Market Tracker


Advertising Feature

Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications.

Click here to access the report.

Companies Mentioned:

DNO, Dragon Oil, Genel, Kuwait Energy, Inpex, Lukoil, Pakistan Petroleum, Shell, Turkish Petroleum, WesternZagros

Action Calls:

  • 4th Round Auction fails to impress: Will failure lead to convergence or divergence between Kurdish and central government approaches to oil and gas?
  • WesternZagros mulling London listing: Critical mass of Kurdish plays may be emerging in London.

Headlines:

  • Sadr invites Maliki to Najaf, only to be rejected: No-confidence rhetoric takes on fevered pitch.
  • Barzani: Peshmerga to be unified by end of the year: Long time coming, but timely now, given debate with Baghdad.
  • Turkish consulate protesters dissipate: Potential indicator of Baghdad’s, and possibly Erbil’s, relations with Ankara.

Calendar Events Discussed:

  • June 15 – Parliament returns from 6 week break

Click here to access the report, or to add your email address to Dunia’s mailing list to receive the Iraq Market Tracker via email.

 

Posted in Banking & Finance, DFC Market Tracker, Industry & Trade, Investment, Oil & Gas, PoliticsComments Off

Dunia Weekly Iraq Market Tracker


Advertising Feature

Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications.

Click here to access the report.

Companies Mentioned:

BP, CNPC, Exxon, Genel Energy, Total

Action Calls:

  • Iraqi Kurdistan to push ahead with oil exports: Gives KRG “plan B” for oil revenues and leverage in negotiations.
  • Genel expands again in Kurdish Region: Shows resilience of Kurdish oil companies despite the ongoing standoff.

Headlines:

  • Iraq summons Turkish Ambassador: Suddenly makes sense in the context of Kurdish pipeline announcement.
  • Mutlak allowed to return to post: “Mercy” for Mutlak, doesn’t guarantee same for Hashimi.

Calendar Events Discussed:

  • May 23 – P5+1 Nuclear Talks in Baghdad
  • May 30-31 – 4th Round Oil and Gas Auction
  • June 15 – Parliament returns from 6 week break

Click here to access the report, or to add your email address to Dunia’s mailing list to receive the Iraq Market Tracker via email.

 

Posted in Banking & Finance, DFC Market Tracker, Industry & Trade, Investment, Oil & Gas, PoliticsComments Off

Dunia Weekly Iraq Market Tracker


Advertising Feature

Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications.

Click here to access the report.

Companies Mentioned:

Afren, DNO, Exxon, Gulf Keystone, Genel Energy, Heritage Oil, WesternZagros

Action Calls:

  • Escalation in rhetoric against Maliki: Maliki apparently overreaches with IHEC arrests as Sadr joins protests.
  • Afren shares up on Kurdistan oil discovery: Afren joins list of oil firms with Kurdish discoveries.

Headlines:

  • Exxon excluded from 4th round as auction terms revealed: Exxon exclusion not surprising. Bigger news is lack of significant concessions to bidders.
  • Second SPM Comes Online: Puts Kurdish threats to cut off exports in perspective.
  • AQI Claims Thursday Attacks: Lull broken, but larger trend is towards decreased violence.

Calendar Events Discussed:

  • May 30-31 – 4th Round Oil and Gas Auction

Click here to access the report, or to add your email address to Dunia’s mailing list to receive the Iraq Market Tracker via email.

 

Posted in Investment, Oil & Gas, PoliticsComments Off

Dunia Weekly Iraq Market Tracker


Advertising Feature

Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications.

Click here to access the report.

Companies Mentioned:

DNO, ExxonMobil, Genel Energy

Action Calls:

  • Barzani speech takes aim at Iraqi government: Likely indicates negotiations, but don’t expect break on Exxon until after Arab League summit.
  • DNO, Genel Energy hail success in Iraq: AWith their first earnings announcement under their belt, could Genel be better play than DNO?

Headlines:

  • Attacks and precautions as Baghdad gears up for Arab League: Al Qaeda’s big chance to discredit Maliki is next week – look for action from both sides.
  • Sadr holds major demonstration in Basra: Sadr shows continuing strength Arab street, but sidesteps Maliki’s show in Baghdad.

Calendar Events Discussed:

  • 29 March – Arab League summit
  • April – National Reconciliation Conference

Click here to access the report, or to add your email address to Dunia’s mailing list to receive the Iraq Market Tracker via email.

 

Posted in Banking & Finance, DFC Market Tracker, Investment, Oil & GasComments Off

Genel Energy Plans New Iraq-Turkey Pipeline


The Financial Times reports that Genel Energy plans to build a pipeline that will connect its fields in the Kurdish regions in northern Iraq to a port in Turkey on the Mediterranean.

Reuters reports that the pipeline will run from DNO’s Tak Tak field to Faysh Khabour, which is the upstation in the northern part of Kurdistan immediately on the Iraqi side of the border with Turkey, connecting in to the major export line to the port of Ceyhan in Turkey.

Tony Hayward (pictured), the former head of BP, who is leading the new company formed from the merger of Vallares with Turkey’s Genel Enerji, said the pipeline will have a capacity of 400,000 barrels of oil a day.

“We’ve completed the engineering on it and are currently in the market to identify an EPC (engineering, procurement and construction) contractor,” Hayward said.

The Daily Mail expects the new company to begin trading on 21st November.

(Sources: Daily Mail, Financial Times, Reuters)

Posted in Construction & Engineering, Oil & GasComments Off

Genel Energy Confirms Designs on Norway’s DNO


Another leader of Genel Energy has stated his opinion that Norway’s DNO is a possible takeover target.

“DNO is our natural partner so it makes a lot of sense if we can take them into Genel,” Mehmet Sepil, CEO of Genel Enerji, told Reuters.

Genel Energy, formed by the combination of Vallares Plc and Turkey’s Genel Enerji, has made no secret of its plans to make acquisitions with its $2.2 billion in cash.

But Sepel said on Sunday that the company is not in detailed talks with anyone as it completes its own merger, which is expected to be completed around 21st November.

Sepil said he would remain with the new company but would not be involved in the day-to-day management.

“We are interested in a few companies, (but there are) no detailed talks at this point”, he added.  “I’m sure in the next few months you’ll see a lot of announcements coming from us.”

Tony Hayward said in late October he that was interested in buying DNO and its Kurdish oil licences.

DNO chief executive Helge Eide said last week that the company was ready to pursue its own acquisitions as it integrates the Gulf assets of Dubai-based RAK Petroleum. The company is producing 50,000 barrels per day of crude at its Tawke field in Iraq’s northern Kurdish region and will boost output capacity to 100,000 bpd next year.

DNO’s stock surged 21 percent on Friday on reports that Exxon Mobil had completed a deal with the Kurdistan Regional Government for six exploration blocs.

“The Exxon story was probably great news for everybody but not for us,” Sepil said. “I really wished they had come six months later.”

(Source: Reuters)

Posted in Investment, Oil & GasComments Off

Genel Energy Plans Acquisitions in Iraqi Kurdistan


Tony Hayward (pictured), the Chief Executive Officer of Genel Energy Plc, a group formed via a merger of Vallares Plc and Turkey’s Genel Enerji, said he plans acquisitions in Iraqi Kurdistan.

Reuters reports that the former boss of BP told reporters in Istanbul that the company plans to make the acquisitions with its $2.2 billion in cash.

“Consolidation is going to take place in the region. There are 41 different entities operating in the Kurdistan region today,” Hayward said.

“Time is right for consolidation in the Kurdistan region. You should expect to see some action around the place.”

Hayward said one third of the $2.2 billion cash will be spent on consolidation, one third on “new focus” areas and the rest on accelerating the developments of new discoveries.

Vallares, an investment vehicle set up by Hayward, financier Nat Rothschild and banker Julian Metherell, is buying Genel in a deal that creates a Kurdistan-focused group worth $4 billion.

The Chairman of Genel Energy, Mehmet Sepil, said Genel had invested a total of $600 million in the Kurdish region.

The company will look into other areas in the Middle East and North Africa for expansion, Hayward said.

The newly-merged group will seek a premium listing on the London Stock Exchange in early 2012, and would likely be big enough to enter the FTSE 100 index of blue-chip London-listed companies.

(Source: Reuters)

Posted in Oil & GasComments Off

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