Company, chaired by former BP boss Tony Hayward, revised down reserves held within Taq Taq to 356m barrels from 683m
Shares in the former BP boss Tony Hayward’s Kurdistan-focused oil company Genel Energy have plunged more than 40% after it slashed the estimated value of its largest oilfield by $1bn (£720m).
Genel said it had revised down reserves held within Taq Taq to 356m barrels from a 683m-barrel figure given in 2011.
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