Canada’s Shamaran Petroleum, which holds a 27.6% interest in the 50,000 b/d Atrush heavy oil field in Iraqi Kurdistan, released an update this week claiming that the firm “has not received any expression of interest from [Atrush operator] Taqa” following rumors in recent weeks. The firm also hosted a “virtual town-hall” on 24 September when CEO Adel Chaouch again sought to play down such rumors.
Shamaran’s share price jumped 40% on the back of the rumor, but Mr Chaouch said “clearly this rumor is not correct.” (CONTINUED - 158 WORDS)