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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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British Genel Energy Expects Double Cash Flow Backed By Kurdistan Payments

rocky
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British Genel Energy Expects Double Cash Flow Backed By Kurdistan Payments Empty British Genel Energy Expects Double Cash Flow Backed By Kurdistan Payments

Post by rocky Tue Jan 18, 2022 8:31 am

[size=38]British Genel Energy Expects Double Cash Flow Backed By Kurdistan Payments
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01/18/2022 | 1:11 PM
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The information/translation …
The British company Genel Energy expected, today, Tuesday, that its free cash flow will more than double in 2022, supported by the increase in global oil prices, even as the Kurdistan region of Iraq focuses its production in the region at the same level as last year.
"The British company entered into a legal dispute with the Kurdistan region of Iraq, and last month began arbitration against them in London over claims related to two canceled contracts for joint gas projects in the region," Reuters reported in a report translated by the agency "Information".
He added, "The company, which has been operating in the Kurdish region for more than 20 years and has four fields there, benefited from the recovery in oil prices after stagnation during the early stages of the pandemic when supplies were in excess."
The company said it expects free cash flow of up to $200 million, before dividends, at Brent oil prices of $75 a barrel, raising its subsidiary shares by 2.1 percent to 145 pence by 8:35 GMT.
The company, which revealed an average production of 31,710 barrels of oil per day in 2021, warned that an increase or decrease of $10 per barrel in Brent prices would affect the annual cash flow by $50 million.
A number of oil traders said that “Feverish oil buying, spurred by supply disruptions and signals that the Omicron variant will not be as disruptive to fuel demand as previously feared, has pushed some crude oil grades to multi-year highs, suggesting that the rally in futures contracts For Brent crude can last longer. finished/ 25 z
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