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Credit Suisse (a leading global financial services company headquartered in Zurich.) has upgraded Genel Energy as a result of what it described as "irreversible progress" towards achieving large scale oil exports via Turkey.
 
Believing that the Iraqi Kurdistan oil play is now lower risk, analyst Thomas Adolff says that progress has been very impressive since 2011 and "we treat recent events - the signing of the energy agreement with Turkey last week - as irreversible progress ... We believe Genel could be the bright-spot again in the UK E&P space in 2014."

 

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