The founder of Kurdistan-focused oil company Gulf Keystone, Todd Kozel, has stepped down from the its board, the company said at its annual general meeting on Thursday, giving in to shareholder pressure.
Gulf Keystone also announc
Oil producer Gulf Keystone Petroleum said plans to increase production from its Shaikan oil field in Iraqi Kurdistan were on track despite escalating violence in the region.
The London-listed oil firm said on Friday three wells at
Kurdistan-focused oil explorer Gulf Keystone won a court case over its ownership of giant oilfields on Tuesday, removing a legal shadow hanging over the company and making it more attractive to potential suitors.
UK-listed oil exploration firm Gulf Keystone has restarted production in Kurdistan, ending a half-year hiatus since the regional government asked operators there to stop pumping, industry sources said.
The company is now producing
US oil major Exxon Mobil is mulling a 7 billion pound ($10.9 billion) takeover of Kurdistan-focused explorer Gulf Keystone Petroleum, the Independent on Sunday reported.
The newspaper said that Exxon is considering making an estimated 800
Gulf Keystone Petroleum said it has raised 25.1 million pounds ($49.8 million) by placing about 89.51 million shares at 28 pence each as part of its plans to fund its projects in Algeria and Kurdistan.
Gulf Keystone Petroleum is an indepen
Gulf Keystone Petroleum Limited has reported a full-year pretax loss of $29.5 million.
“2007 was a year of significant challenges for Gulf Keystone Petroleum from which I believe the Company has emerged both operationally and strategically