Genel Energy has issued the following trading and operational update in advance of the Company's 2012 full year results, which are scheduled for release on 28 February 2013. Information contained within this release is un-audited and may be subject to further review. Tony Hayward (pictured), Chief Executive said: "2012 saw a strong production performance and […]
By John Lee. Baghdad and Erbil both have too much at stake not to settle their dispute over oil, although they may take a year or so to do it, Genel Energy Chief Executive Tony Hayward (pictured) told Reuters. "The scale of the opportunity for Kurdistan and for Iraq is so large that there will […]
The KRG's minister of electricity, Yassen Shekh Abubakir Mawati [Yasin Sheikh Abu Bakir Muhammad Mawati] (pictured), has announced the creation of five hydro-electric and gas power plants in the region: Three hydro-electric power plants at Deraluk-Rashawa Dam, Mandawa-Kopala and Taqtaq; Two gas power plants with 200-megawatt capacity each in Qaladze and Harir. (Source: AKnews)
Iraqi Kurdistan has not yet started exporting crude oil, despite a reported agreement that exports would resume from 1st February, Iraqi oil ministry sources said on Tuesday. Two top oil ministry officials, speaking on condition of anonymity, told Platts that there had been no additional oil supplied from two producing fields in the Kurdish region […]
Addax Petroleum Corp.’s crude output has risen 14 percent since the Geneva-based company was acquired by China Petrochemical Corp. in August last year, according to Bloomberg. Crude production at Addax has grown to 155,000 barrels a day from 136,000 barrels a day, China Petrochemical, also known as Sinopec Group, said in a statement on its […]
Turkish oil company Genel Enerji AS has reportedly agreed to sell part of its stake in three northern Iraq oilfields to South Korea’s UI Energy Corp. for more than $175 million [210 billion Iraqi dinars]. BusinessWeek reports that Genel Enerji will sell 5 percent stakes in the Dohuk and Tawke fields and 10 percent of […]
