Genel Enerji A.S. Company News

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Genel can 'Plan with Confidence' in 2017 after KRG Payment Promise
Genel Energy plc says it can plan with confidence this year after the Kurdistan Regional Government confirmed that oil export payments from the region will continue.
7:00 PM EST | January 23, 2017
KRG Delivers Payments to Genel, DNO, Gulf for Tawke, Shaikan Production
Genel Energy plc, DNO ASA and Gulf Keystone Petroleum Ltd all receive payments from the Kurdistan Regional Government.
7:00 PM EST | January 22, 2017
AkerBP, Cairn Energy Make Jefferies Top Pick List
AkerBP ASA and Cairn Energy plc have made investment bank Jefferies' 'top pick' list, while Genel Energy plc and Tullow Oil plc have been given an 'underperform' rating by the firm.
7:00 PM EST | January 08, 2017
DNO Makes Oil Find in Kurdistan Region of Iraq
Oil has been discovered in the Cretaceous horizon in the southern flank of the Peshkabir field.
7:00 PM EST | January 08, 2017
KRG Doing All It Can To Ensure IOC Payments Says Deputy Prime Minister
The Kurdistan Regional Government is doing all it can to ensure prompt payments to international oil and gas companies operating in the area, KRG Deputy Prime Minister Qubad Talabani says.
7:00 PM EST | December 04, 2016
DNO Receives KRG Payment for Tawke Field Deliveries
DNO ASA receives $31.33 million from the Kurdistan Regional Government as payment towards August crude oil deliveries to the export market from the Tawke field in the Kurdistan region of Iraq.
8:00 PM EST | November 01, 2016
Gulf Keystone Creditors to Take Control Following Oil Slump
Gulf Keystone Petroleum creditors will take control of the oil producer after low crude prices and erratic export payments left the company unable to service debts.
8:00 PM EST | July 13, 2016
Genel Energy's TT-27x Taq Taq Well Flows at 3,000 Bopd
The Taq Taq field's TT-27x side-track well is flowing at 3,000 barrels of oil per day after being successfully drilled and completed in the Cretaceous Shiranish reservoir.
8:00 PM EST | July 06, 2016
Genel Confirms Receipt of Part-Payment for Tawke, Taq Taq Exports
Genel Energy confirms the receipt of part-payment from the Kurdistan Regional Government for oil exports from the Tawke and Taq Taq fields in the Kurdistan Region of Iraq.
8:00 PM EST | June 20, 2016
Genel, DNO, Gulf Keystone Receive KRG Payments
Genel Energy plc, DNO ASA and Gulf Keystone Petroleum Ltd receive payments from the Kurdistan Regional Government for crude oil exports in March from the Kurdistan Region of Iraq.
8:00 PM EST | April 11, 2016
DNO, Genel Energy, Gulf Keystone Confirm KRG Payments
DNO ASA, Genel Energy and Gulf Keystone Petroleum all confirm payments from the Kurdistan Regional Government for oil exported from the Kurdistan Region of Iraq.
8:00 PM EST | March 21, 2016
Genel Energy Sees $1B in Impairments, Suffers $1.1B Loss
Genel Energy posts impairment costs of $1.03 billion in relation to the Taq Taq PSC in 2015, following revised assumptions on recoverable reserves at the field in the Kurdistan Region of Iraq.
7:00 PM EST | March 02, 2016
Genel Nearly Halves Taq Taq Reserves Estimate, Expects $1B Impairments
Genel Energy expects to record an impairment charge of approximately $1 billion, following revised assumptions on recoverable reserves at the Taq Taq field in the Kurdistan Region of Iraq.
7:00 PM EST | February 28, 2016
Genel to Resume Oil Drilling in Iraqi Kurdistan
Genel Energy, one of a handful of foreign oil producers in Iraqi Kurdistan, to resume drilling at its Taq Taq oilfield in the coming weeks.
7:00 PM EST | February 08, 2016
Oil Producer Genel Forecasts Lower 2016 Revenue
Iraqi Kurdistan oil producer Genel Energy forecasts lower revenue for 2016 compared to 2015.
7:00 PM EST | January 19, 2016
Genel Energy Rings Board Changes
Genel Energy brings Premier Oil CEO onto its board as Sir Graham Hearne retires.
7:00 PM EST | January 18, 2016
IOCs Confirm KRG Oil Export Payments
Gulf Keystone Petroleum, DNO ASA and Genel Energy all confirm receipt of payment from the Kurdistan Regional Government for oil exported from the Kurdistan Region of Iraq.
7:00 PM EST | January 05, 2016
KRG Pays Taq Taq Field Partners
The Taq Taq field partners receive a gross payment of $30 million from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline.
7:00 PM EST | January 04, 2016
DNO Receives Partial Payment from KRG for Oil Exports
DNO ASA confirms receipt of $30 million by the Kurdistan Regional Government as a partial payment towards oil exported from the Tawke field.
7:00 PM EST | December 02, 2015
Gulf Keystone Receives Monthly Oil Payment from Iraqi Kurdistan
Gulf Keystone Petroleum receives a gross payment of $15 million from the Kurdistan Regional Government for oil exports, marking the third consecutive month of regular payments.
7:00 PM EST | December 01, 2015
IOCs Cut Kurdistan CAPEX due to Payment Trouble
DNO, Genel and Gulf Keystone's combined CAPEX in Kurdistan has fallen considerably as a result of the Kurdistan Regional Government's lack of payment to producing international oil companies.
7:00 PM EST | November 30, 2015
Genel, New Age in $2 Billion Merger Talks
Genel Energy is in the early stages of merger talks worth more than $2 billion with New Age African Global Energy, according to Sky News.
7:00 PM EST | November 24, 2015
Genel Energy Plans Joint Gas Company in Iraqi Kurdistan
Genel Energy Plc plans to establish a joint company with the Iraqi Kurdish government to develop gas fields, its chairman said on Friday.
7:00 PM EST | November 19, 2015
Africa Oil Boom Fades as $50 Crude Shuts Door on High-Cost Deals
Oil below $50 has made more than two out of three investment projects in Africa non-viable.
7:00 PM EST | November 19, 2015
Genel to Sell 20% Interest in Chia Surkh PSC
Genel Energy plc will sell a 20% participating interest in the Chia Surkh Production Sharing Contract to Petoil Inc.
8:00 PM EST | October 28, 2015
Genel Says 3Q 2015 was 'Turning Point' for the Firm
Genel Energy says the third quarter of 2015 was a turning point for the firm after it received payments from the Kurdistan Regional Government of Iraq and exports hit record levels.
8:00 PM EST | October 19, 2015
Gulf Keystone Receives another Payment for Kurdistan Crude Exports
Gulf Keystone Petroleum receives a payment of $15 million for crude oil exports from its Shaikan field in Kurdistan following a similar payment by the KRG in September.
8:00 PM EST | October 14, 2015
Genel Energy to Buy OMV Stake in Bina Bawi Field
Genel Energy signs an agreement with OMV to buy its 36% operated stake in the Bina Bawi field, located in the Kurdistan Region of Iraq.
8:00 PM EST | September 14, 2015
MOL Scales Back Investment in Kurdistan Region of Iraq
MOL scales back investment in the Akri-Bijeel Block, located in the Kurdistan Region of Iraq, due to payment issues associated with the block and the area's geological complexity.
8:00 PM EST | September 07, 2015
Genel Energy Receives $16.5M from KRG
Genel Energy receives $16.5 million from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline.
8:00 PM EST | September 07, 2015
KRG Allocates $75-$100M as Payment for IOCs
The Kurdistan Regional Council for Oil & Gas Affairs approves the allocation of $75-$100 million of the revenue from the KRG's direct crude oil sales as payment for exporting international oil companies.
8:00 PM EST | August 26, 2015
Genel Energy CEO Welcomes Kurdish Commitment to Pay IOCs
Genel Energy Chief Executive Murat Ozgul welcomes the Kurdistan Regional Government's public commitment to pay producing international oil companies on a monthly basis, from September 2015.
8:00 PM EST | August 05, 2015
KRG to Pay Producing IOCs from September 2015
The Kurdistan Regional Government's Ministry of Natural Resources announces that the KRG will pay producing international oil companies a portion of the revenue from its direct crude oil sales, on a monthly basis, from September 2015 onwards.
8:00 PM EST | August 02, 2015
Genel Appoints New CEO, On Track to Deliver 90-100,000 BPD
Genel Energy appoints Murat Ozgul as its new CEO as it says it is on track to produce an average of between 90,000 and 100,000 barrels of oil per day in 2015.
8:00 PM EST | July 12, 2015
Ex-BP Chief Sees Oil Bull Market Sooner than Many Expect
Former BP CEO Tony Hayward says low crude prices will trigger consolidation in the oil industry but a new bull market might arrive sooner than expected.
8:00 PM EST | April 21, 2015
Genel Raises Debt to Fund Kurdistan Strategy
Iraqi Kurdistan-focused Genel Energy completes a placing of $230 million of bonds.
8:00 PM EST | March 25, 2015
Genel Expects Regular Payments from Iraqi Kurdistan During 2015
Genel Energy, still owed $233 million for oil it has sold so far to the Kurdistan Regional Government, expects regular payments from the KRG during 2015.
7:00 PM EST | March 04, 2015
Genel's Hayward Warns Over Iraq's Oil Growth Amid Low Prices
The head of Iraqi Kurdistan-focused oil producer Genel says Iraq's crude output will grow far slower than many expect as the drop in oil prices reduces investment in the country.
7:00 PM EST | February 09, 2015
Genel Slashes 2015 Revenue Forecast on Weak Oil Prices
Kurdistan oil producers Genel slashes its 2015 revenue forecast, citing weak crude prices.
7:00 PM EST | January 20, 2015
DNO Confirms Payment from Kurdistan for Oil Exports
Norway's DNO confirms that it has received a share of $30 million as a first payment for oil exported by the Kurdistan Region Government.
7:00 PM EST | December 02, 2014
Genel Strikes Deal to Develop Major Gas Fields in Iraqi Kurdistan
Genel signs an agreement with the Kurdistan Regional Government to develop two large gas fields that could supply Turkey with gas from 2017.
7:00 PM EST | November 12, 2014
Sidi Moussa Well Offshore Morocco Finds Oil
The SM-1 well, located on the Sidi Moussa block offshore Morocco, finds oil, Serica Energy reports.
8:00 PM EST | October 19, 2014
More Oilfield Staff Return to Work in Iraqi Kurdistan
Genel Energy becomes the latest company operating in the Kurdistan region of Iraq to report that it is returning staffing levels to normal after recent violence in the area.
8:00 PM EST | September 07, 2014
Iraqi Kurdistan's Largest-Producing Oilfield Working To Boost Output
Oil production at Iraqi Kurdistan's largest-producing oilfield is set to rise to as much as 14,000 barrels per day by the end of the month.
8:00 PM EST | August 14, 2014
Oil Exploration in Kurdistan Halted Amid Violence
Hess Corp. is latest oil firm to suspend operations in Iraqi Kurdistan, as Kurdistan Regional Government halts exploration activities near potential combat zones.
8:00 PM EST | August 10, 2014
Genel Says Kurdish Fields 'Remain Safe and Secure'
Genel Energy reports that its Taq Taq and Tawke fields in Iraqi Kurdistan "remain safe and secure" amid fighting between Islamic State and Peshmerga forces in Kurdish territory.
8:00 PM EST | August 07, 2014
Genel Profits Rise on Higher Kurdistan Oil Exports
Genel Energy posts a 50-percent rise in first-half oil production, buoyed by output from Iraqi Kurdistan.
8:00 PM EST | August 04, 2014
Paul Romano Rig on its Way to Drill Hagar Qim Well
Mediterranean Oil & Gas says the Paul Romano rig is on its way to the Hagar Qim 1 well location and that the well will spud 'imminently'.
8:00 PM EST | May 19, 2014
Genel on Track for 60,000-70,000 Barrels per Day in 2014
Genel Energy says it remains on track to produce between 60,000 and 70,000 barrels of oil equivalent per day in 2014.
8:00 PM EST | April 21, 2014
Statoil Farms down Angola Pre-Salt Block to Genel
Statoil farms down a 15% interest in pre-salt block 39, offshore Angola, to a joint venture involving Genel Energy.
8:00 PM EST | April 02, 2014