lower oil prices threaten KRG capacity growth

摘要

Investment in exploration in northern Iraq's semi-independent Kurdistan region, particularly by the smaller foreign operators, could suffer from the fall in oil prices, according to Petroleum Argus. 'The reality of $50/b might have an impact on exploration,' London-listed independent Genel Energy's President Mehmet Sepil says. Foreign companies working in Iraqi Kurdistan will incur falling profits or losses, he adds. Genel has reduced its output target for 2015 to 150,000 b/d from 200,000 b/d, citing technical reservoir issues.