Wednesday, February 26, 2020

Genel Energy Posts $254.6 Mln Loss

March 20, 2019

(Photo: Genel Energy)

Iraqi Kurdistan-focused oil producer Genel Energy Plc (GEGYF) posted a full-year operating loss of $254.6 million because of write-downs of about $424 million for its Miran PSC field assets.

The company also on Wednesday reported full-year production of 33,700 barrels of oil per day (bopd) for the period ended Dec. 31, compared with 35,200 bopd last year.

(Reporting by Sangameswaran S in Bengaluru; Editing by Bernard Orr)

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