Genel Energy dives on dividend suspension, plunge in HY production

Genel Energy

02/08/2023 10:12

** Shares of Genel Energy  GENL.L  fall as much as 5.6% at
98p 
    ** Iraqi Kurdistan-focused oil firm suspends dividend, posts
fall in half-year production on prolonged closure of the
Iraq-Türkiye pipeline
    ** HY production down to 13,440 barrels of oil per day
(bopd) from 30,420 bopd year ago 
    ** $100 mln payment due from Kurdistan Regional government
impacting co's cash position expectations for year-end 
    ** Up to last close, stock had fallen ~20% this year 


    
   

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))