Genel Energy director buys 0.5m shares
Chakib Sbiti, independent director at Genel Energy, on Wednesday bought 0.5m shares for 642.9p in the oil explorer and producer.
Genel Energy
83.40p
16:45 19/04/24
Oil & Gas Producers
9,468.77
17:10 19/04/24
Sbiti, who joined the company in 2012, spent £321,450 in the transaction, and now holds a total of 0.8m shares.
The Middle Eastern oil producer, which is headed by former BP boss Tony Hayward, this month started to receive government payments for oil exported from its operations in Kurdistan.
Genel said it had received a $30m gross payment from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline from the Taq Taq field that it runs with partners.
"Genel believes this is an important first step towards the normalisation of payments for oil exported through the pipeline," it said at the time in a statement.
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