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Country: United Kingdom
Thursday, Mar 64:58 PM
Thursday, Mar 64:58 PM| Comment!
- The governments in Baghdad and Iraqi Kurdistan are moving closer to an agreement over sharing oil revenues from exports, according to the CFO of Kurdistan-focused Genel Energy (GEGYF).
- An agreement would mark a breakthrough in a long-standing dispute between the two governments over control of the region's oil.
- Without a deal, Genel may struggle to increase exports this year beyond the 70K bbl/day peak transported via road trucks to Turkey's Mediterranean port of Ceyhan, where a new and controversial pipeline linking Kurdistan to Turkey terminates.
Thursday, Jan 95:12 PM
Thursday, Jan 95:12 PM| 2 Comments
- Iraqi Kurdistan has started commercial shipments of oil through a new crude export pipeline to Turkey in defiance of the federal government, and the region’s Ministry of Natural Resources says the first shipment of 2M barrels will be sold by the end of January.
- The first exports on the route started flowing earlier this month from the Tawke oil field operated by DNO International (DTNOF, DTNOY), with output from the Taq Taq field operated by Genel Energy (GEGYF) and other producing fields entering the pipeline soon.
- Gulf Keystone (GUKYF, GFKSY), which earlier said it had started exports of oil from its Shaikan oilfield in Kurdistan by truck to Turkey, plans to achieve output of 100K bbl/day in 2015.
- Monthly flows through the pipeline to the Turkish port of Ceyhan are set to rise to 4M barrels next month and 6M in March before reaching 10M-12M by year-end.
Thursday, Oct 312013, 6:55 PM
Thursday, Oct 312013, 6:55 PM| 1 Comment
- Iraqi Kurdistan plans to build a second new oil export pipeline to Turkey within the next two years as it ramps up output independently of Baghdad, its natural resources minister says.
- Kurdistan will track the volumes of its rising crude exports on the pipeline independently of the central government, Minister Ashti Hawrami says, adding that "nowhere in the world can 1M barrels per day remain stranded forever, so the oil export is a reality."
- The central government's anger hasn’t stopped Kurdistan from signing deals with producers including giants such as Exxon (XOM) and Chevron (CVX), as well as wildcatters like Genel Energy, the Turkish firm run by former BP chief Tony Hayward (GEGYF).
Wednesday, Jun 192013, 10:36 AMIraq's Kurds are set to complete a new oil pipeline to Turkey which could export more than 1M bbl/day by 2015, a move sure to provoke further anger from the Baghdad government as the autonomous region increases control over oil resources in its region. The plan is backed by Turkey, and Genel Energy (GEGYF.PK) is thought to be planning to send its Taq Taq output through the pipeline. |Wednesday, Jun 192013, 10:36 AM| Comment!
Thursday, May 162013, 8:20 AMGlencore Xstrata (GLCNF.PK) names former BP CEO Tony Hayward as interim chairman, WSJ reports. Hayward was BP's CEO during the 2010 Deepwater Horizon disaster; he is now CEO of Genel Energy (GEGYF.PK). The appointment comes after shareholders voted against the re-election of former chairman John Bond. |Thursday, May 162013, 8:20 AM| Comment!
Wednesday, Apr 172013, 11:54 AMIraqi Kurdistan reportedly signs a landmark agreement with Turkey to supply it directly with oil and gas via a new pipeline set for completion later this year, risking the ire of Iraq's central government. The deal could prove a windfall for companies such as XOM, CVX and TOT with a presence in the semi-autonomous region, including Genel Energy (GEGYF.PK), run by ex-BP CEO Tony Hayward. |Wednesday, Apr 172013, 11:54 AM| 3 Comments
Wednesday, Apr 102013, 11:55 AMFor anyone wondering whatever happened to Tony Hayward, BP’s CEO at the time of the Deepwater Horizon disaster: Genel Energy (GEGYF.PK), the Anglo-Turkish oil company he leads, says it made a "significant oil discovery” in one of its Iraqi Kurdistan fields. The Chia-Surkh 10 well is the first of five Genel plans to drill in the region this year. |Wednesday, Apr 102013, 11:55 AM| Comment!
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