- Genel Energy (OTCPK:GEGYF) says CEO Tony Hayward, best known as BP's CEO during the 2010 Gulf of Mexico, will become chairman following the resignation of Rodney Chase.
- Hayward will be replaced as Genel's CEO by Murat Ozgul, a company veteran and president of its Turkey and Kurdistan region.
- Genel also says its H1 net production rose 41% Y/Y to 88.8K bbl/day with full-year guidance of 90K-100K bbl/day, but is putting all exploration work on hold for this year to rein in costs as it awaits nearly $400M in payments from Kurdistan's government; FY 2015 revenue guidance is unchanged at $350M-$400M, assuming a Brent crude price of $50/bbl.