2016 is shaping up to be a year to forget for Anglo-Turkish firm Genel Energy. Its operations in Iraqi Kurdistan have endured a torrid first nine months, including a substantial downgrading of its key Taq Taq asset, a 23-day export pipeline outage, low oil prices and unreliable payments from the Kurdistan Regional Government (KRG). Chairman and former CEO Tony Hayward is to step down next year according to Reuters and will be hoping his final months will be more stable.

The firm released a...