Genel sticks with Weir for CEO spot
Genel Energy has confirmed interim CEO Paul Weir to take over the role for good, with immediate effect.
Bill Higgs
Higgs quits Genel following AGM vote
Genel Energy CEO Bill Higgs is stepping down with immediate effect after a vote went against him at the recent AGM.
Shareholder revolt at Genel topples Higgs, others
Shareholders at Genel Energy have rejected the election of three directors at today’s AGM.
Genel defeated by Qara Dagh geology
Genel Energy has halted work on the QD-2 well in Kurdistan because of “insurmountable technical problems”, the company has acknowledged.
Chevron reaches first oil at Sarta
Chevron has reached first oil at the Sarta field, in Kurdistan, from an early production facility.
Genel takes losses but posts dividend
Genel Energy reported an operating loss of $340 million for the first half of the year, but still generated $6.5mn of free cash flow.
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.