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Genel Boss May Seek Outside Investors for Failed Iraqi Kurdistan Oil Field

Genel's share price has gone down 42% forcing chairman


Genel's share price has gone down 42% forcing chairman of Genel Energy, Tony Hayward to announce he will attempt to establish an investment fund that will buy assets which have been put up for sale due to the slump in global oil prices. This comes after Genel failed to reach share targets; this decision was further compounded by the Kurdistan Regional Government struggling to repay Genel the hundreds of millions due in payments, another announcement reduction in Genel oil reserves--two-thirds less than previous estimates-- and the internal conflict the KRG is currently funding. 




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