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Genel Energy expects lower spending in 2020, posts annual profit

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(Reuters) - Iraqi Kurdistan-focussed Genel Energy said on Thursday capital expenditures can be reduced to as little as $60 million (52.18 million pounds) this year as it looks to combat a plunge in oil prices, while posting an annual operating profit.Based on current oil prices, Genel expects capital expenditure to be around $100 million in 2020, compared with $158.1 million last year. Shares of..
Date Published: Mar 19, 2020
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