DNO International has announced that told investors that Petrolia Invest AS and Erik J. Frydenbø have filed a request for an injunction with the Oslo District Court seeking to block the completion of the merger with RAK Petroleum PCL's MENA operating subsidiaries. Petrolia Invest AS is a subsidiary of Petrolia ASA, a company controlled by […]
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 […]
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 […]
Former BP chief executive Tony Hayward (pictured), who heads the cash-rich Genel Energy group, said he would be interested in buying Norwegian oil company DNO and its Kurdish oil licences. Norwegian newspaper Finansavisen reported on Tuesday that the remarks come a week before DNO shareholders are to vote on a contested proposal to buy UAE-based […]
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 […]
Just over two months after raising more than US$2.0 billion to invest in promising oil and gas projects in developing markets, Vallares PLC ("Vallares" or the "Company") today announces that it plans to merge with Genel Energy International Ltd ("Genel"), the largest oil producer in the Kurdistan Region of Iraq. Genel has stakes in two […]
