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

GKP Remains Focused on Maximising Local Sales

Gulf Keystone Petroleum (GKP) has this morning issued an operational and corporate update. The information contained in this announcement has not been audited and may be subject to further review. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "2023 was a challenging year for GKP and our industry as Kurdistan crude exports were suspended in […]

GKP Shares move on Increased Local Sales from Shaikan

By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed up ten percent on Monday, after the company announced an increase in local sales of oil from its Shaikan field. The shares fell back five percent in trading on Tuesday morning. Statement from GKP: Update on Shaikan Field local sales Gross average sales in September […]

Shares in GKP Fall on Going Concern Worries

By John Lee. Shares in Gulf Keystone Petroleum (GKP), which operates oilfields in Iraqi Kurdistan, were trading down 7 percent at lunchtime on Thursday, after the company announced a "material uncertainty" regarding its continuation as a going concern. In its results for the half year ended 30 June 2023, the company said: "Nonetheless, given the […]

GKP partially Restarts Oil Production at Shaikan, for Local Market

By John Lee. Share in Gulf Keystone Petroleum (GKP) were trading up nearly 7 percent this morning (Wednesday), follow a fall that saw the shares down 25 percent at one point yesterday. In an operational and corporate update, the company said it has, "commenced local sales in July and partially restarted Shaikan Field production, increasing […]

GKP Production towards Lower End of Guidance

By John Lee. Share in Gulf Keystone Petroleum (GKP) were trading down around 3 percent on Monday as the company said that production for 2022 would be towards the lower end of its guidance range. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "Our leverage to strong oil prices, low-cost production base and focus on […]

GKP Shares Rally on Half-Year Results

By John Lee. Shares in Gulf Keystone Petroleum (GKP), a leading independent operator and producer in the Kurdistan Region of Iraq, were trading 12 percent higher today after the company announced its results for the half year ended 30 June 2021. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "I am pleased to report […]

GKP Shares Rise on Corporate Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) ended the day up more than 6 percent on Friday, as the Kurdistan-focused oil producer gave an operational and corporate update: Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "We continue to safely navigate a challenging operating environment due to COVID-19, with gross average year-to-date […]

Gulf Keystone announces Special Dividend

Gulf Keystone Petroleum (GKP) has announced that its Board has approved the declaration of a special dividend of $25 million. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "Given continuing strong oil prices, improving macroeconomic conditions and our robust financial position, we are pleased to deliver on our commitment to consider further shareholder distributions […]

GKP Shares Rally following Update

By John Lee. Shares in Gulf Keystone Petroleum, have rallied more than 20 percent after the company issued an operational and corporate update on Tuesday: Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "We have made significant operational strides in recent months, ensuring we remain on-track to achieve our revised targets for the year. I […]

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 […]