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.
Genel Energy
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.
Sarta well disappoints for Genel
Genel Energy has completed the Sarta-5 appraisal well but reservoirs appear tight and it failed to flow.
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.
Genel reaches East African farm-out with Taiwan’s CPC
Genel Energy has signed a farm-out deal with OPIC Somaliland Corp. (OSC), backed by Taiwan’s CPC Corp. on a block in Somaliland.
Genel to file for Kurdistan compensation
Genel Energy will seek compensation from Kurdistan Regional Government (KRG) following the cancellation of its Bina Bawi and Miran production-sharing contracts (PSCs).
Kurdistan terminates two Genel licences
Kurdistan has issued a notice to Genel Energy that it intends to terminate licences on Bina Bawi and Miran.
Kurdistan to cut payments to producers
Kurdistan has told producers that it is cutting payments for oil production, in light of continued pressure from COVID-19.
Tawke output slips in 2020
The Tawke licence in Kurdistan produced 110,300 barrels per day in 2020, DNO has reported, down from 124,000 bpd in 2019.
Chevron reaches first oil at Sarta
Chevron has reached first oil at the Sarta field, in Kurdistan, from an early production facility.
DNO cuts Tawke emissions with reinjection scheme
DNO’s Peshkabir gas capture and injection project, in Kurdistan, has launched and already captured 1 billion cubic feet of gas injected, in a major move to reduce emissions.
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.
DNO warns of declines in North Sea, Kurdistan
DNO and Genel Energy have cut production estimates and spending this year in Kurdistan, although allowing that work could resume should prices strengthen.
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.
Sterling eyes opportunistic deals
Given the current state of the oil market, Sterling Energy is becoming more confident in executing a deal with an onshore low-cost operator.
New oil law in Somalia tests uneasy peace
Somalia is taking steps to attract foreign investment to its energy sector but challenges remain, most notably in how the federal government can integrate its policies with those of the state governments.
Genel Energy’s production drops as focus shifts to gas fields
Genel Energy has announced it expects its oil and gas production to fall for a third year in 2018.
Genel reveals new seismic plan
Genel Energy today confirmed it would carry out a 3D seismic campaign across is Morocco Sidi Moussa licence.
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 posts strong first half as production slips
Genel posted a strong financial performance for the first half of the year.
Ex BP boss Tony Hayward leaves Genel
Former BP boss, Tony Hayward, has announced his retirement as director and chairman of Genel Energy.
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 Tawke payment
The Kurdistan Regional Government has paid Genel Energy and its partners $30million for oil sales during June 2016.
Genel lands Tawke field payment from Kurdistan government
Genel Energy has confirmed that Tawke field partners have received a payment of $15million from the Kurdistan Regional Government for oil sales during May 2016.