- Genel Energy (OTCPK:GEGYF) says production jumped in June to 84K bbl/day vs. a 63K bbl/day rate for all of H1, after Iraq’s Kurdistan region opened an export pipeline to Turkey.
- The pipeline, which bypasses the central Iraqi network, will allow Kurdistan to raise exports to 200K-250K bbl/day this month from 125K barrels early last month, with shipments possibly increasing to 400K bbl/day by the end of the year.
- Kurdistan, which plans a referendum on independence from Iraq, has largely remained calm as Islamist militants fight to the south and west; Genel says its operations remain safe and secure.