By John Lee. Genel Energy has issued a presentation relating to its half-year results to the end of June. Click here to download. (Source: Genel Energy)
Genel Energy presentation on Results to the end-June
Tag Archives | Miran
Tags: Bina Bawi, Ceyhan, featured, Genel Energy, Iraq Oil Exports News, Iraq Oil Production News, Iraq-Turkey Pipeline (ITP), Kirkuk Ceyhan pipeline, Miran, Sarta, Tawke, Turkey, Turkiye
Pipeline Closure causes steep Revenue Fall at Genel Energy
By John Lee. Revenues at Genel Energy have, as expected, fallen sharply as a result of the closure of the Iraq-Turkey Pipeline (ITP) which brings oil from Northern Iraq to Turkiye's port of Ceyhan. In its unaudited results for the period ended 30 June 2023, Paul Weir, Chief Executive of Genel, said: "The closure of […]
Tags: Bina Bawi, Ceyhan, featured, Genel Energy, Iraq Oil Exports News, Iraq Oil Production News, Iraq-Turkey Pipeline (ITP), Kirkuk Ceyhan pipeline, Miran, Sarta, Tawke, Turkey, Turkiye
Genel Shares Rise on Trading Update
Shares in Genel Energy were trading as much as 6 percent higher this morning following a trading and operations update in respect of the third quarter and first nine months of 2022. Paul Weir (pictured), Chief Executive of Genel, said: "I am pleased that we remain on track to generate around $250 million of free […]
Tags: Bina Bawi, featured, Genel Energy, Kurdistan News, Miran, mn, Qara Dagh, Sarta, Taq Taq, Tawke
Genel Energy: Strong Results, but Shares Down
By John Lee. Shares in Genel Energy were trading down around 5 percent on Tuesday morning, despite significant increases in revenue and profit announceed in its unaudited results for the six months ended 30 June 2022. Paul Weir, Interim Chief Executive of Genel, said: "Our cash generation in the first half of the year has […]
Tags: Bina Bawi, featured, Genel Energy, Iraq Oil Production News, Kurdistan News, Miran, mn, oil revenues, Sarta
KRG hits back at Genel Energy Claims
By John Lee. The Kurdistan Regional Government (KRG) has responded to the statement on Friday by Genel Energy regarding the production-sharing contracts (PSCs) at Bina Bawi and Miran. The KRG strongly denies that it is in repudiatory breach of the PSCs, and denies that Genel is entitled to any compensation. It adds that it will […]
Genel Energy to Claim Compensation from KRG
Shares in Genel Energy opened down more than five percent on Friday morning, before recovering some ground, after the company said it will claim compensation from the Kurdistan Regional Government (KRG). It says the claims, which relate to KRG's intention to terminate the Bina Bawi and Miran production sharing contracts (PSCs) are "substantial", and will […]
Shares in Genel Energy fall as KRG to Terminate Contracts
By John Lee. Shares in Genel Energy fell more than 15 percent in mid-morning trading after the company announced that the Kurdistan Regional Government (KRG) intends to terminate its contracts at Bina Bawi and Miran. In a statement, the company said: "Genel has received notice from the Ministry of Natural Resources of the Kurdistan Regional […]
Genel Pauses Bina Bawi Plans; Numis Upgrades
By John Lee. Genel Energy has announced that it "will only proceed with significant investment in Bina Bawi once an agreement is reached on a commercial framework that provides a clear route to monetisation." In a statement, the company said: "As previously announced, the deadline to meet the conditions precedent relating to the Bina Bawi […]
Genel Energy Shares dip following Results
By John Lee. Shares in Genel Energy were trading down four percent on Wednesday morning after the company announced its audited results for the year ended 31 December 2018, in which it wrote down its Miran asset by $424 million. Despite this, Genel says it can now initiate "a material and sustainable dividend policy", with […]
Genel Energy Returns to Profit
Genel Energy has announced a return to profit. In its audited results for the year ended 31 December 2017, Murat Özgül (pictured), Chief Executive of Genel, said: "Another year of consistent payments by the KRG and a disciplined capital allocation strategy helped to generate material free cash flow in 2017. This was enhanced in the […]
Genel Updates on Oil Reserves
By John Lee. Genel Energy has announced the completion of competent person's reports ('CPRs') relating to the oil reserves and resources at Taq Taq, Bina Bawi, and Miran. McDaniel and Associates have updated the CPR relating to the Taq Taq field (Genel 44% working interest, joint operator). RPS Energy Consultants Ltd. ('RPS'), as part of […]
Tags: Bina Bawi, featured, Genel Energy, Kurdistan News, McDaniel & Associates, Miran, oil reserves, RPS Energy Consultants, Taq Taq
Genel Energy Updates on Operations in Kurdistan
Genel Energy has issued a trading and operations update in advance of the Company's full-year 2017 results, which are scheduled for release on 22 March 2018. The information contained herein has not been audited and may be subject to further review. Murat Özgül, Chief Executive of Genel, said: "A strong final quarter of 2017 completed […]