Tag Archives | Gulf Keystone

The latest Gulf Keystone Business News – Kurdistan, oil finds / discoveries, Sheikh Adi near Erbil, Shaikan, share price rise – brought to you by Iraq Business News

Soden Re-joins GKP Board

Further to the recent announcement that Garrett Soden was to be re-appointed to the Board of Gulf Keystone Petroleum (GKP) as a Non-Independent Non-Executive Director representing funds managed by Lansdowne Partners Austria GmbH, the Company is pleased to confirm that the formal appointment process has now been completed and as such welcomes Mr Soden back […]

Ferrier Steps Down as CEO of GKP

Gulf Keystone Petroleum (GKP) has announced that Jón Ferrier (pictured), Chief Executive Officer, has informed the Board of his intention to retire from the Company upon appointment of a successor and after a period of handover. The Company is now commencing a formal, externally facilitated, search process and will provide an update as and when […]

GKP to Cut Workforce by 40%

By John Lee. Gulf Keystone Petroleum (GKP) has provided an operational and corporate update in advance of Friday's Annual General Meeting: Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "In response to the unprecedented COVID-19 pandemic and macroeconomic conditions, we took decisive actions to preserve liquidity and safeguard the long-term health of the business. We […]

GKP Shares up 10% on Results

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up around 10 percent on Thursday morning, following the company's announcement of its results for the year ended 31 December 2019. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "2019 saw a step change in activity at Shaikan; we delivered production and controlled expenditures […]

GKP appoints new Non-Exec Chairman

Gulf Keystone Petroleum (GKP) has announced the appointment of Jacobus ("Jaap") Huijskes as Non-Executive Chairman effective as of 11 April 2018, immediately following the announcement of the Company's 2017 Full Year Results.   Jaap Huijskes, who replaces Keith Lough as Chairman, joined the Board of Gulf Keystone in November 2017 as a Non-Executive Director.  Today's […]

Shaikan Crude Oil Sales Agreement Signed

Gulf Keystone Petroleum (GKP) has announced that a crude oil sales agreement has been signed between Gulf Keystone Petroleum International Ltd ("GKPI"), on behalf of the Shaikan contractors, and the Kurdistan Regional Government (KRG). Under the agreement, the KRG will purchase Shaikan crude oil at the monthly average Dated Brent oil price minus a total […]

Shaikan Payment Update

By John Lee. Gulf Keystone Petroleum (GKP) has confirmed 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 August 2017. (Source: GKP)

Gulf Keystone appoints New Non-Executive Director

Gulf Keystone Petroleum (GKP) has announced the appointment of Jacobus ("Jaap") Huijskes as a Non-Executive Director with immediate effect. Jaap Huijskes was most recently a Director at OMV, the Austrian integrated oil and gas company listed on the Vienna Stock Exchange. While at OMV, he was responsible for Exploration and Production (E&P) and oversaw the […]

GKP Reports on Payments to Governments

Gulf Keystone Petroleum has issued the details of the payments made to governments for the year ended 31 December 2015, as required under the Disclosure and Transparency Rules of the UK Financial Conduct Authority. Basis for preparation Total payments below £86,000 made to a government are excluded from this report as permitted under the Regulations. […]

GKP seeks Relief with Bondholders

By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed down nearly 3 percent on Friday after it reached agreement with less than 75 percent of its bondholders to delay making interest payments. The company's full statement: Further to the Company's disclosure on 14 April 2016, Gulf Keystone confirms that constructive dialogue continues with a […]

GKP Announces Options; Shares Plunge to New Low

Shares in Gulf Keystone Petroleum (GKP) plunged 30 percent to a new low following the mid-morning announcement of details of fundraising and investment options: Gulf Keystone today publishes further details on potential interim investment scenarios to build a common foundation for stakeholder discussions on the Company's need for near-term fundraising, upcoming debt obligations and possible […]

GKP Shaikan Payment Update

By John Lee. Gulf Keystone Petroleum (GKP) has announced that a gross payment of $7.5 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil exports in February 2016. This gross payment comprises the Company's monthly contractual revenue entitlement under the Shaikan Production Sharing Contract for crude oil exports in February […]