Genel Energy Reports Strong Q1 and Positive Outlook

Genel Energy (GB:GENL) has released an update.

Genel Energy PLC has reported a strong start to 2024 with balanced income and expenditure, robust local sales from the Tawke licence, and a solid financial position with $372 million in cash. The company anticipates covering its costs with income for the year and expects to maintain a net cash position well above $100 million. Production has seen an increase with zero lost time incidents, and negotiations for the Iraq-Türkiye Pipeline, which could affect future exports, are ongoing.

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