Genel Enerji A.S. Company News
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Genel can 'Plan with Confidence' in 2017 after KRG Payment Promise
Tuesday, January 24, 2017Genel 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.
KRG Delivers Payments to Genel, DNO, Gulf for Tawke, Shaikan Production
Monday, January 23, 2017Genel Energy plc, DNO ASA and Gulf Keystone Petroleum Ltd all receive payments from the Kurdistan Regional Government.
AkerBP, Cairn Energy Make Jefferies Top Pick List
Monday, January 09, 2017AkerBP 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.
DNO Makes Oil Find in Kurdistan Region of Iraq
Monday, January 09, 2017Oil has been discovered in the Cretaceous horizon in the southern flank of the Peshkabir field.
KRG Doing All It Can To Ensure IOC Payments Says Deputy Prime Minister
Monday, December 05, 2016The 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.
DNO Receives KRG Payment for Tawke Field Deliveries
Wednesday, November 02, 2016DNO 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.
Gulf Keystone Creditors to Take Control Following Oil Slump
Thursday, July 14, 2016Gulf 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.
Genel Energy's TT-27x Taq Taq Well Flows at 3,000 Bopd
Thursday, July 07, 2016The 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.
Genel Confirms Receipt of Part-Payment for Tawke, Taq Taq Exports
Tuesday, June 21, 2016Genel 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.
Genel, DNO, Gulf Keystone Receive KRG Payments
Tuesday, April 12, 2016Genel 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.
DNO, Genel Energy, Gulf Keystone Confirm KRG Payments
Tuesday, March 22, 2016DNO ASA, Genel Energy and Gulf Keystone Petroleum all confirm payments from the Kurdistan Regional Government for oil exported from the Kurdistan Region of Iraq.
Genel Energy Sees $1B in Impairments, Suffers $1.1B Loss
Thursday, March 03, 2016Genel 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.
Genel Nearly Halves Taq Taq Reserves Estimate, Expects $1B Impairments
Monday, February 29, 2016Genel 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.
Genel to Resume Oil Drilling in Iraqi Kurdistan
Tuesday, February 09, 2016Genel Energy, one of a handful of foreign oil producers in Iraqi Kurdistan, to resume drilling at its Taq Taq oilfield in the coming weeks.
Oil Producer Genel Forecasts Lower 2016 Revenue
Wednesday, January 20, 2016Iraqi Kurdistan oil producer Genel Energy forecasts lower revenue for 2016 compared to 2015.
Genel Energy Rings Board Changes
Tuesday, January 19, 2016Genel Energy brings Premier Oil CEO onto its board as Sir Graham Hearne retires.
IOCs Confirm KRG Oil Export Payments
Wednesday, January 06, 2016Gulf 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.
KRG Pays Taq Taq Field Partners
Tuesday, January 05, 2016The 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.
DNO Receives Partial Payment from KRG for Oil Exports
Thursday, December 03, 2015DNO ASA confirms receipt of $30 million by the Kurdistan Regional Government as a partial payment towards oil exported from the Tawke field.
Gulf Keystone Receives Monthly Oil Payment from Iraqi Kurdistan
Wednesday, December 02, 2015Gulf 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.
IOCs Cut Kurdistan CAPEX due to Payment Trouble
Tuesday, December 01, 2015DNO, 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.
Genel, New Age in $2 Billion Merger Talks
Wednesday, November 25, 2015Genel Energy is in the early stages of merger talks worth more than $2 billion with New Age African Global Energy, according to Sky News.
Genel Energy Plans Joint Gas Company in Iraqi Kurdistan
Friday, November 20, 2015Genel Energy Plc plans to establish a joint company with the Iraqi Kurdish government to develop gas fields, its chairman said on Friday.
Africa Oil Boom Fades as $50 Crude Shuts Door on High-Cost Deals
Friday, November 20, 2015Oil below $50 has made more than two out of three investment projects in Africa non-viable.
Genel to Sell 20% Interest in Chia Surkh PSC
Thursday, October 29, 2015Genel Energy plc will sell a 20% participating interest in the Chia Surkh Production Sharing Contract to Petoil Inc.
Genel Says 3Q 2015 was 'Turning Point' for the Firm
Tuesday, October 20, 2015Genel 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.
Gulf Keystone Receives another Payment for Kurdistan Crude Exports
Thursday, October 15, 2015Gulf 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.
Genel Energy to Buy OMV Stake in Bina Bawi Field
Tuesday, September 15, 2015Genel Energy signs an agreement with OMV to buy its 36% operated stake in the Bina Bawi field, located in the Kurdistan Region of Iraq.
MOL Scales Back Investment in Kurdistan Region of Iraq
Tuesday, September 08, 2015MOL 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.
Genel Energy Receives $16.5M from KRG
Tuesday, September 08, 2015Genel Energy receives $16.5 million from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline.
KRG Allocates $75-$100M as Payment for IOCs
Thursday, August 27, 2015The 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.
Genel Energy CEO Welcomes Kurdish Commitment to Pay IOCs
Thursday, August 06, 2015Genel 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.
KRG to Pay Producing IOCs from September 2015
Monday, August 03, 2015The 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.
Genel Appoints New CEO, On Track to Deliver 90-100,000 BPD
Monday, July 13, 2015Genel 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.
Ex-BP Chief Sees Oil Bull Market Sooner than Many Expect
Wednesday, April 22, 2015Former 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.
Genel Raises Debt to Fund Kurdistan Strategy
Thursday, March 26, 2015Iraqi Kurdistan-focused Genel Energy completes a placing of $230 million of bonds.
Genel Expects Regular Payments from Iraqi Kurdistan During 2015
Thursday, March 05, 2015Genel 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.
Genel's Hayward Warns Over Iraq's Oil Growth Amid Low Prices
Tuesday, February 10, 2015The 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.
Genel Slashes 2015 Revenue Forecast on Weak Oil Prices
Wednesday, January 21, 2015Kurdistan oil producers Genel slashes its 2015 revenue forecast, citing weak crude prices.
DNO Confirms Payment from Kurdistan for Oil Exports
Wednesday, December 03, 2014Norway's DNO confirms that it has received a share of $30 million as a first payment for oil exported by the Kurdistan Region Government.
Genel Strikes Deal to Develop Major Gas Fields in Iraqi Kurdistan
Thursday, November 13, 2014Genel signs an agreement with the Kurdistan Regional Government to develop two large gas fields that could supply Turkey with gas from 2017.
Sidi Moussa Well Offshore Morocco Finds Oil
Monday, October 20, 2014The SM-1 well, located on the Sidi Moussa block offshore Morocco, finds oil, Serica Energy reports.
More Oilfield Staff Return to Work in Iraqi Kurdistan
Monday, September 08, 2014Genel 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.
Iraqi Kurdistan's Largest-Producing Oilfield Working To Boost Output
Friday, August 15, 2014Oil 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.
Oil Exploration in Kurdistan Halted Amid Violence
Monday, August 11, 2014Hess Corp. is latest oil firm to suspend operations in Iraqi Kurdistan, as Kurdistan Regional Government halts exploration activities near potential combat zones.
Genel Says Kurdish Fields 'Remain Safe and Secure'
Friday, August 08, 2014Genel 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.
Genel Profits Rise on Higher Kurdistan Oil Exports
Tuesday, August 05, 2014Genel Energy posts a 50-percent rise in first-half oil production, buoyed by output from Iraqi Kurdistan.
Paul Romano Rig on its Way to Drill Hagar Qim Well
Tuesday, May 20, 2014Mediterranean 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'.
Genel on Track for 60,000-70,000 Barrels per Day in 2014
Tuesday, April 22, 2014Genel Energy says it remains on track to produce between 60,000 and 70,000 barrels of oil equivalent per day in 2014.
Statoil Farms down Angola Pre-Salt Block to Genel
Thursday, April 03, 2014Statoil farms down a 15% interest in pre-salt block 39, offshore Angola, to a joint venture involving Genel Energy.