Ex-BP head's new venture to buy Turkish energy group

7th September 2011, Comments 0 comments

Vallares, the investment vehicle led by former BP boss Tony Hayward, said Wednesday it had agreed to buy Genel Energy International, the largest oil producer in the Kurdistan region of Iraq, for $2.1 billion.

"The transaction is subject to the approval of the Kurdistan Regional Government which is expected to be given later this month," Vallares said in a statement.

© 2011 AFP

0 Comments To This Article