Shares in Genel Energy dropped by more than 20% on Tuesday after the company announced that a British court had rejected its claim for damages against the Kurdistan Regional Government (KRG).
The legal dispute centered on Genel’s claim for compensation over the loss of its rights to develop the Bina Bawi and Miran oil fields in Iraqi Kurdistan.
Additionally, the tribunal has deferred the decision regarding the allocation of arbitration-related costs to a future ruling.
