Anglo-Turkish firm Genel suffered an annus horribilis in 2016 and a trading update released this week suggests things are only going to get worse in 2017.

Genel confirmed this week that average output from its flagship Taq Taq field (Genel 44% op, Sinopec 36%, KRG 20%) fell 48% last year to just 60,100 b/d. In a trading and operations update released 24 January, the firm says it expects production to average just 24,000-31,000 b/d in 2017 – a huge output fall of 48-60% (see chart 1).

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