Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange. The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Kurdistan Region of Iraq. Genel continues to seek opportunities to add new resilient and cash-generative assets to its portfolio, with the goal of progressing its dividend in the long-term.
Bilgin Grup Dogalgaz – 23%
Isbank – 19%
Daax – 17%
NR Holdings – 8%
Stichting Value Partners – 7%
Management Ownership – 1%
Andrew Benbow, Head of Communications
Andrew has been at Genel for 11 years, having worked in investor relations and corporate communications since 2004.
Genel has generated material free cash flow in recent years, and returned over $200 million to investors since 2019. The company has recently been impacted by the closure of the Iraq-Turkey pipeline, with its reopening a potentially major share price catalyst. Genel also continues to seek acquisitions outside Kurdistan, diversifying cash flows. We are happy to talk to all potential shareholders and bondholders.
The reopening of the Iraq-Turkey pipeline, and restart of payments, returning Genel to material cash generation.
An M&A deal that diversifies cash flows, creating a more resilient, cash generative company
Continue building our track record as a material and sustainable dividend payer, focused on creating value for shareholders through investor returns
At present it is the shutdown of the Iraq-Turkey pipeline, which has temporarily suspended our route to market
The political instability at the time of writing has impacted our share price, but a resolution promises stability that the Kurdistan oil industry has not previously known. We are a prudent business, focused on balance sheet management, and the payment of sustainable dividends – with over half of our market cap having been paid in dividends in the last four years.
Genel has a clear direction of travel, material free cash flow in recent years, and a robust cash position to fund acquisitive growth.