By John Lee. The United States has pushed the Iraqi government to finalise an agreement with international oil companies (IOCs) to resume crude oil exports through the Iraq-Turkey Pipeline (ITP). At the daily press briefing on Wednesday, State Department spokesperson Tammy Bruce told reporters: "We're urging the Iraqi Government to reach an agreement ... with […]
By John Lee. Representatives from the Association of the Petroleum Industry of Kurdistan (APIKUR) member companies met with officials from the Government of Iraq (GoI) and the Kurdistan Regional Government (KRG) on March 6 to discuss the resumption of oil exports through the Iraq-Türkiye Pipeline. APIKUR reiterated that its member companies are ready to restart […]
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has said its member companies are ready to restart oil exports from Iraqi Kurdistan once agreements are in place. In a statement on X, the association called for written sales and lifting agreements with Baghdad and Erbil ensuring payment transparency and protection from […]
By John Lee. The Federal Ministry of Oil has confirmed the completion of procedures for resuming the export of oil produced in the Kurdistan Region through Ceyhan Port (pictured), in accordance with the mechanisms outlined in the Budget Law and its amendments and within Iraq's OPEC production quota. In a statement on Saturday, the Ministry […]
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 […]
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 […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has met with members of the Parliamentary Finance Committee, led by Chairman Atwan Al-Atwani, to discuss resuming oil exports from the Kurdistan region via the Iraq-Turkey Pipeline (ITP) and the Turkish port of Ceyhan. The meeting focused on strengthening cooperation between the Ministry of Oil and […]
By John Lee. The Iraqi Cabinet has approved an amendment to the Budget Law, compensating the Kurdistan Regional Government (KRG) for production and transportation costs of oil produced in the region and received by the State Oil Marketing Organization (SOMO) or the Federal Ministry of Oil. It said the Federal Ministry of Finance will compensate […]
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 […]
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 […]
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 […]
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 […]
