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Thursday, Oct 316:55 PMKurdistan plans second oil export pipeline to Turkey
Thursday, Oct 316:55 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 1910:36 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 1910:36 AM| Comment!
Thursday, May 168:20 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 168:20 AM| Comment!
Wednesday, Apr 1711:54 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 1711:54 AM| 3 Comments
Wednesday, Apr 1011:55 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 1011:55 AM| Comment!
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