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 […]
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Genel Enerji Sells Iraq Oilfield Stakes for $175m
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 […]
Tags: Addax, Ceyhan, China Petroleum and Chemical Corp, DNO, Dohuk, Genel Enerji, Heritage Oil, IU Energy, korea, Miran, SINOPEC, Taq Taq, Tawke