Stay away from KRG producers, analyst warns investors
“We have cut all non-essential activity and significantly reduced spend, while developing a new source of income through domestic sales,” said Weir.
Taq Taq
Genel cuts capex 50%
Genel Energy has cut capital expenditure to just over $100 million for 2020, while operating expenditure will be reduced by 10% to around $40mn.
Genel Energy recoups payment
Genel Energy today confirmed the Taq Taq field partners have received a gross payment of $10.22million from the Kurdistan Regional Government for oil sales during June 2017.
Genel set to lose CFO, chairman search continues, reports say
Genel Energy (GENL) is to lose its chief financial officer while still struggling to find a replacement for Chairman Tony Hayward, it has been reported.
Iraq’s Taq Taq reserves downgraded, Genel expects $181m impairment charge
Genel Energy expects to record an impairment charge of $181million on its books for 2016 after reserves were downgraded at the Taq Taq field in Iraq.
Genel Energy receives payment for Taq Taq oil sales
Genel Energy has said it has received a share of $23.37million from the Kurdisatn Regional Government for oil sales during July this year.
Genel receives another $6million from Kurdistan
Genel Energy said the Taq Taq field partners have received a payment of $11.45 million from the Kurdistan Regional Government for oil sales during April 2016.
Genel receieves $13million for March Taq Taq oil
Genel Energy has received $13million from the Kurdistan Regional Government as its share of March oil payments from the Taq Taq field in Northern Iraq.
Genel confirms $55.4m bond buy back
Genel Energy has confirmed it is buying back $55.4million of bonds with a big chunk taken off their face value.
Genel braces for $1billion impairment charge as its reserve estimation takes a hit
Genel Energy today confirmed it expected a $1billion impairment charge, after its estimated reserves in the Taq Taq field took a significant hit.