Tag Archives | GKP

KRG Directs Resumption of Oil Exports in Coordination with Baghdad

By John Lee. The Council of Ministers of the Kurdistan Regional Government (KRG) has instructed the Ministry of Natural Resources (MNR) to maintain coordination with the federal Ministry of Oil, State oil Marketing Organization (SOMO), and oil-producing companies in the region to ensure the swift resumption of Kurdistan Region's oil exports through SOMO, with the […]

Progress on Plans to Resume Kurdistan Oil Exports

By John Lee. The Iraqi Parliament has voted to approve the first amendment to the Federal Budget Law (No. 13 of 2023) for the fiscal years 2023, 2024, and 2025. Proposed by the Finance Committee, the amendment aims to appoint an international technical advisory firm to assess fair production and transportation costs for oil fields […]

GKP: Near-Term Local Sales Outlook "Strong"

By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed the day down 5 percent on Thursday following the company's Operational and Corporate Update. The company announced increased production, sales and cash balances, and described the near-term local sales outlook as "strong." Full statement from the company: Gulf Keystone, a leading independent operator and producer […]

GKP: "Near-Term Local Sales Outlook is Strong"

By John Lee. Gulf Keystone Petroleum (GKP) has said its near-term local sales outlook is strong. In an operational and corporate update issued today (Wednesday), the operator of the Shaikan Field in the Kurdistan Region of Iraq added that a number of key details remain outstanding regarding payment surety for future oil exports, the repayment […]

GKP Appoints New Non-Executive Directors

By John Lee. Gulf Keystone Petroleum (GKP) has announced the appointment of two new independent non-executive directors: Catherine Krajicek, who has previously held senior positions at ConocoPhillips, Marathon Oil and Cairn Energy; and, Marianne Daryabegui, formerly at Total, BNP Paribas and Natixis, amongst others. Full statement from GKP: Gulf Keystone, a leading independent operator and […]

GKP confirms Interim Chair

By John Lee. Gulf Keystone Petroleum (GKP) has confirmed that Deputy Chair of the Board and interim Senior Independent Director David Thomas will assume the role of Interim Chair until further notice. The announcement follows the passing of Chairman Martin Angle earlier this week. In a statement, Jon Harris, Gulf Keystone's Chief Executive Officer, paid […]

GKP announces Return to Profitability

By John Lee. Gulf Keystone Petroleum (GKP) has announced its results for the half year ended 30 June 2024: Jon Harris, Gulf Keystone's Chief Executive Officer, said: "We have safely delivered a solid operational and financial performance in the first half of 2024, with robust local sales combined with sustained capital and cost discipline supporting […]

GKP Shares Rise on Dividend Announcement

By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed up more than six percent on Friday, after the company announced that it will pay an interim dividend. The company had cancelled its dividend in May 2023, follow disruption to oil exports from the Kurdistan Region. An increase in sales to local customers had allowed […]

GKP outlines Payments to Govts for 2023

By John Lee. Gulf Keystone Petroleum (GKP) has just published details of its payments to governments for the year 2023: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ("Gulf Keystone") for the year ended 31 December 2023 as required under Disclosure and […]

GKP Full Year Results

By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed the day down nearly four percent on Thursday, after it announced its results for the full year ended 31 December 2023.   Jon Harris, Gulf Keystone's Chief Executive Officer, said: "Following a challenging year in 2023, in which our operational and financial performance was impacted […]

GKP says Local Sales Volumes have Rebounded

By John Lee. Gulf Keystone Petroleum (GKP) has said that local sales volumes have rebounded in recent weeks. It adds that sales for February are expected to be above expected monthly net capex and costs. Full statement from GKP: Update on Shaikan Field local sales & Notice of 2023 Full Year Results Gulf Keystone, a […]

GKP announces Management and Board Changes

By John Lee. Gulf Keystone Petroleum (GKP) has announced management and board changes as follows: Ian Weatherdon to retire as Chief Financial Officer (CFO); Gabriel Papineau-Legris, currently Chief Commercial Officer (CCO), to replace Weatherdon as CFO; Kimberley Wood, Senior independent Director, resigns from the Board due to other commitments. Full statement from GKP: Management & […]