Tag Archives | GKP

GKP Shares Down on Half-Year Results

Shares in Gulf Keystone Petroleum (GKP) were trading down 3 percent this morning following the announcement of its results for the half year ended 30 June 2017. Reuters quotes analysts at Cenkos Securities as saying that further clarity on payment is required before GKP can commit to proper capital expenditure. Highlights to 30 June 2017 […]

GKP confirms Shaikan Payment

By John Lee. Gulf Keystone Petroleum (GKP) confirmed today that a gross payment of $15.0 million ($12.0 million net to GKP) has been received from the Kurdistan Regional Government (KRG) for Shaikan crude oil export sales in March 2017. (Source: Gulf Keystone)

GKP Trims Losses

Gulf Keystone Petroleum (GKP) has announced its results for the year ended 31 December 2016, which show reduced losses for the period: Highlights to 31 December 2016 and post reporting period Operational: Gulf Keystone’s operations in the Kurdistan Region remained safe and secure throughout 2016. Plant uptime (at PF-1 and PF-2) of over 98%, once […]

Gulf Keystone: Statement Regarding Recent Media

Further to reports in the media this week, Gulf Keystone (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, is today clarifying certain points regarding the marketing of Shaikan crude. Recent media does not correctly represent the views of the Company and its Executives. The inference is that the company does not know […]

Shaikan Crude to be Exported by Truck

Gulf Keystone Petroleum (GKP), operator of the Shaikan Field in Iraqi Kurdistan, has said the Kurdistan Regional Government’s Ministry of Natural Resources (MNR) is to begin exporting all Shaikan crude production via trucks to Turkey, from the end of February. Subsequently, no Shaikan crude will be injected into the Kirkuk-Ceyhan export pipeline at Fishkhabour, until […]

Gulf Keystone gains following Trading Statement

Shares in Gulf Keystone Petroleum (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, closed up 1.7 percent on Wednesday followingn a trading and operational update. This is in advance of the Company’s full year results for the period ended 31 December 2016 which will be announced on Thursday 6 April 2017. […]

Iraq Considers Retaliatory Ban on US Visitors

By John Lee. According to various media reports, Iraqi lawmakers have said that they might ban US nationals from entering the country in retaliation against Donald Trump’s executive order to deny Iraqis entry to the United States. The parliament’s foreign affairs committee called on the government to act after Trump controversially ordered that citizens from […]

Gulf Keystone, Shaikan Payment Update

Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $15.0 million has been received from the Kurdistan Regional Government (“KRG”) for Shaikan crude oil export sales in October 2016. Gulf Keystone and the KRG’s Ministry of Natural Resources (“MNR”) continue to work towards agreeing the final form of the invoices for May to […]

Gulf Keystone names new COO

Gulf Keystone Petroleum (GKP) has announced that it has appointed Stuart Catterall as Chief Operating Officer (“COO”) and a member of the Executive and Leadership teams. Catterall will have responsibility for operational and technical activities within GKP, across the full spectrum of activities including procurement, budgeting and HSSE and will direct the execution of the […]

Sinopec considers Bid for GKP

By John Lee. Bloomberg reports that Sinopec — the state-owned China Petroleum & Chemical Corporation — is considering a takeover of the recently restructured Gulf Keystone Petroleum (GKP). The news agency cites un-named sources as saying that the world’s biggest refiner is working with advisers and has made an approach to the company, which was […]

DNO Considers Revised Offer for GKP

By John Lee. Norway’s DNO has stated that its July 2016 proposal to acquire Gulf Keystone Petroleum (GKP) has expired, “as certain conditions to the recent financial restructuring set by Gulf Keystone itself appear not to have been met.” In a statement, the company said: “Given the resulting uncertainties about Gulf Keystone’s asset, commercial oulook […]