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Iraqi Kurdistan-focused oil producer Genel Energy has appointed an outsider as chief financial officer, diversifying a leadership team that has been dominated by Turkish executives since the departure ...
Genel Energy appoints an outsider as chief financial officer, diversifying a leadership team that has been dominated by Turkish executives since the departure of its 2 co-founders.
Genel Energy (Other OTC: GEGYF - news) 's main Taq Taq oil field in Iraqi Kurdistan has seen falling output in 2017 but the rate of decline has slowed recently, the company said in a statement prepared for its annual general meeting on Tuesday. The oil producer said it would target further investment in Taq Taq, and cautioned that "it remains too early to extrapolate long-term conclusions" from oil field's production trends. Genel co-founder Nathaniel Rothschild quit on Monday, joining co-founder Tony Hayward, and chief financial officer Ben Monaghan, who have announced plans to depart.