Genel Energy takes a charge on operations in the Kurdish north of Iraq because of a weak market and a lower reserve estimate. Photo courtesy of Genel Energy LONDON, Feb. 29 (UPI) — Lower crude oil prices and a downward revision in the recoverable reserve estimate in the Kurdish north of Iraq means a charge on the books, Genel Energy said. An internal review of the Taq Taq basin in the Kurdish north of Iraq put the estimated recoverable proven and probable reserves at 356 million barrels, about half as much as estimated in June 2011. The company reported net production for the first half of 2015 was an average 88,800 barrels per day, a 41 percent increase year-on-year. The company exports oil from the Kurdish north through the Turkish sea port of Ceyhan. Genel, which has headquarters in London, said it and its partners at the field, received […]