Advertisement
UK markets close in 5 hours 11 minutes

  • FTSE 100

    7,829.02
    -48.03 (-0.61%)
     

  • FTSE 250

    19,282.90
    -167.77 (-0.86%)
     

  • AIM

    741.23
    -4.06 (-0.54%)
     

  • GBP/EUR

    1.1680
    -0.0004 (-0.03%)
     

  • GBP/USD

    1.2440
    +0.0002 (+0.02%)
     

  • Bitcoin GBP

    52,136.60
    +2,620.99 (+5.29%)
     

  • CMC Crypto 200

    1,335.67
    +23.05 (+1.79%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • CRUDE OIL

    82.45
    -0.28 (-0.34%)
     

  • GOLD FUTURES

    2,394.60
    -3.40 (-0.14%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     

  • DAX

    17,717.02
    -120.38 (-0.67%)
     

  • CAC 40

    7,991.64
    -31.62 (-0.39%)
     
Property:

11 beautiful homes with glorious garden rooms

Investing in a home with a garden room will enable you to enjoy your outside space whatever the weather

Genel Energy warns of lower-end 2016 revenue after weak production

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 26 (Reuters) - Genel Energy (Other OTC: GEGYF - news) , one of the main oil producers in Iraqi Kurdistan, warned on Wednesday its full-year revenue would be at the lower end of its $200 to $230 million target because of weaker output from two key fields.

The company said that due to weaker output from the Taq Taq and Tawke fields it expected 2016 production levels at the lower end of its 53,000 to 60,000 barrels-per-day target range.

The oil producers' receivables from the Kurdistan Regional Government (KRG), which pays domestic oil producers for exports, rose to $437 million at the end of September, compared with $412 million at the end of June.

The KRG, which had been paying foreign producers in monthly installments for oil exports since September 2015, fell behind on payments this summer, raising concern among oil exporters. (Reporting by Karolin Schaps; Editing by David Holmes)