Gulf Keystone had previously trucked Shaikan crude to the Turkish border, for onward transport via pipeline to Ceyhan in 2015. It ended trucking in 2019.
Gulf Keystone Petroleum
The region owes Gulf Keystone $102mn, for supplies from October 2022 to January 2023. Kurdistan paid $66mn for August and September 2022 sales.
Iraq’s Ministry of Oil has said it would discuss how to export “Iraqi oil through the Turkish port of Ceyhan” with the authorities in Kurdistan and Turkey.
Gulf Keystone Petroleum has benefited from increased payments from Kurdistan this year and adding the drilling of another well to its plans.
Gulf Keystone Petroleum has declared an additional dividend but warned that production will not grow as much as expected in 2022.
Kurdistan has told producers that it is cutting payments for oil production, in light of continued pressure from COVID-19.
Gulf Keystone Petroleum has restarted its 55,000 barrel per day investment programme, with MOL, in Kurdistan.
Gulf Keystone Petroleum does still intend to increase production to 55,000 barrels per day in Kurdistan but this is dependent on conditions improving, including the resolution of outstanding payments from the local government.
Gulf Keystone Petroleum has taken steps to shore up its financial position, with a knock-on impact to its predicted 2020 production.
The largest operator in the Kurdistan Region of Iraq, Gulf Keystone Petroleum Ltd, is to receive a $15million pay out from the Kurdistan Regional Government (KRG).
Gulf Keystone Petroleum (GKP) said today that it had banked a £9.5million payment from Kurdistan.
Gulf Keystone Petroleum (GKP) narrowed its losses in 2016 after enjoying a year of “safe and secure operations” in its stomping ground of Kurdistan.
Shares in Gulf Keystone Petroleum (GKP) edged up by 3% on the London exchange this morning after the company revealed a large jump in revenues in the first half of 2016.
Gulf Keystone Petroleum made $112million worth of payments to government last year.
Gulf Keystone Petroleum said it has launched a new open offer as it looks to raise up to $25million.
Gulf Keystone Petroleum said it has received a gross payment of $15million from the Kurdistan Regional Government for Shaikan crude oil export sales in June.
A Gulf Keystone Petroleum non-executive chairman is set to retire from the board of directors. Simon Murray will step down, with Andrew Simon, senior independent director assuming the role on an interim basis. A search process for a new non-executive chairman will now begin.
Gulf Keystone Petroleum has appointed a new chief financial officer. The company said Sami Zouari has been appointed to the board of the company following careers in both oil and gas and investment banking. Mr Zouari previously worked for BNP Paribas and Total EP, including as a commercial manager in Libya.