Shares in Genel Energy were down 3 percent on Wednesday morning following the company's trading and operations update in advance of the its full-year 2014 results, which are scheduled for release on 5 March 2015. The information contained herein has not been audited and may be subject to further review: HIGHLIGHTS A combination of low […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today confirmed receipt of USD 30 million (36 billion Iraqi dinars) as first payment for oil exported by the Kurdistan Regional Government from the Tawke field during 2014. The payment will be shared by DNO (USD 20.625 million) and partner Genel Energy plc (USD […]
By John Lee. Genel Energy has announced that the Taq Taq field partners have received an initial gross payment of $30 million (35 billion Iraqi dinars) from the Kurdistan Regional Government ('KRG') for oil exported through the Kurdistan Region of Iraq ('KRI')-Turkey pipeline. The Tawke field partners will also receive a $30 million gross payment. […]
From ProactiveInvestors. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Tony Hayward, the chief executive of Genel Energy (LON:GENL), insists Kurdistan, where Genel operates, is a ‘secure and stable’ place to do business despite the threat of terrorism in the region. Ex-BP CEO Hayward […]
Genel Energy has announced that it has reached an agreement with the Ministry of Natural Resources ("MNR") of the Kurdistan Regional Government ("KRG") for the development of the Miran and Bina Bawi gas fields. In addition, Genel has agreed key terms with OMV to acquire its 36% operated stake in the Bina Bawi gas field. […]
By John Lee. Genel Energy has issued the following trading update and preview ahead of a capital markets day presentation for analysts and investors in London commencing at 14:00 GMT. The presentation materials will be published at 12:00 GMT on www.genelenergy.com with the event broadcast live on the website, and available for download shortly afterwards. […]
Iraqi and British politicians will be joining senior business leaders from both countries at the Iraq Britain Business Council’s (IBBC) eighth London conference in early November. Entitled “Iraq – Accentuating the Positive”, the event is being held at the spectacular Institution for Civil Engineers building, One Great George Street, on November 5th and 6th. In light […]
By John Lee. Genel Energy has announced that, following a significant improvement in the security situation in the border region of the Kurdistan Region of Iraq ('KRI'), it has begun the process of returning staffing levels to normal. This follows the temporary and precautionary step of withdrawing non-essential personnel from non-producing assets. Genel said its […]
By John Lee. Following recent events in the vicinity of the Kurdistan Region of Iraq ('KRI'), Genel Energy plc has confirmed that the Taq Taq and Tawke fields remain safe and secure. The company says that operations there are unaffected, with combined gross production from both fields averaging c.230,000 bopd this week. It says it […]
By John Lee. Shares in Genel Energy, the London-listed exploration and production company and largest independent oil producer in the Kurdistan Region of Iraq, were down more than 2 percent on Tuesday after the company announced its unaudited half year results to 30 June 2014. Results summary Highlights Genel's operations in the Kurdistan Region […]
Genel Energy has issued a Trading and Operations Update in advance of the Company's half-year 2014 results, which are scheduled for release on 5 August 2014. PRODUCTION AND REVENUES UPDATE Gross production from Taq Taq averaged 92,000 bopd in H1 2014 and 113,000 bopd in June. Gross production from Tawke averaged 84,000 bopd in H1 […]
By Ruth Lux, Managing Director of political risk consultancy Strategic Analysis. The security situation in Iraq has significantly declined over the last week. Mosul and Tikrit fell to the Islamic State of Iraq and the Levant (ISIS), an al-Qaeda off-shoot, and Tal Afar, in the Nineveh province, was seized on Monday. Additionally, Baquba, only 37 […]
