Monthly oil exports of over 412,000 BPD, selling at an average of $32.44 per barrel
Lower oil prices and “adverse geopolitical developments” have led GKP to default on debt obligations and cash flow problems.
According to North Oil Company (NOC) statement on 29th March 2016, this amount has accounted for 65% of Iraqi Kurdistan's total oil exports.
Kurdish Prime Minister, Nechirvan Barzani said low oil prices have dealt a "painful blow" to the regional economy.
Gulf Keystone Petroleum Ltd., which largely operates within Kurdistan has announced the company's shares have gone down 25%
'The original deal between Baghdad and Kurdistan required KRG to export 300,000 bpd to Iraq’s Federal State Organisation for the Marketing of Oil'
'Lower oil prices and “adverse geopolitical developments” have led GKP to default on debt obligations and cash flow problems.
'The KRG exported 10,148,487 barrels of crude oil (an average of 327,371 barrels per day (bpd)) in the month of March through the Kurdistan pipeline network to the port of Ceyhan in Turkey.'
'GPK has done recompletion of Shewashan-1; phase 1 production will be processed at 10,000 bopd. Phase 1 investment budget is $77US million.
'According to North Oil Company (NOC) statement on 29th March 2016, this amount has accounted for 65% of Iraqi Kurdistan's total oil exports. '
'Financial advising to the Qaiwan Group was provided by CT&F Consulting DMCC.
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'Were it not for war that is currently going on in Iraqi Kurdistan, the Kurdistan Regional Government (KRG) Would have Invested $1US billion'
'Genel has confirmed receipt of payments of around US$24mln for crude oil exports from the Tawke and Taq Taq fields in the Kurdistan region of northern Iraq.'
'The ongoing dispute between Iraq and Iraqi Kurdistan continues as has not not yet pumped oil to Turkey via the Kurdish pipeline, according to the Iraqi Minister of Oil.
Genel's share price has gone down 42% forcing chairman'
'Kurdish Prime Minister, Nechirvan Barzani said low oil prices have dealt a "painful blow" to the regional economy. '
'Operating losses for DNO in 2015 were $174US million.'
'Gulf Keystone Petroleum Ltd., which largely operates within Kurdistan has announced the company's shares have gone down 25% '
'Baghdad Halts Kirkuk Oil Exports via KRI
'The Norwegian oil and gas operator, DNO ASA which largely operates in Iraqi Kurdistan has released its annual 2015 report which indicated record levels of operations '
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'The KRG will therefore make an allotment of oil for Glencore in its oil reserves in the future months.
'Kurdistan resumes oil exports after three-week break squeezes budget'
'"The recent reserve downgrades are another blow to optimism about Kurdish oil production," said Richard Mallinson, geopolitical analyst at consultancy Energy Aspects.
The three-week outage of Iraqi Kurdistan's pipeline which carries oil to the Mediterranean port of Ceyhan could likely open soon.'
'Despite the fact that Kurdistan-Ceyhan pipeline has been down for 13 days and is still in fact currently not operational.
'The pipeline will be in operation by the end of the week. '
'Similar pipeline disruptions in Nigeria with a spill and maintenance in the UAE also affected oil output.
'Pipeline will not operate for a further two weeks. '
'Kurds put Abadi in the position of either finding a way to follow through or risk being blamed for the failure of the proposal'
'The report provides a comprehensive overview of activity in the Kurdistan Region’s oil and gas sector in 2015, including the revenues derived from oil exports.
'Under a new agreement announced February 1, 2016, Norwegian oil and gas operator, DNO ASA, received 21.45 m from Kurdistan Regional Government '
'The KRG exported 18,656,131 barrels of crude oil'
'Payments will be subject to full reconciliation with the terms of the production sharing contract in due course.
'Adel Abdul Mahdi has agreed to allow any decision by OPEC and non-OPEC members when considering a cut in crude production.'
'Three of the region’s key decision makers all made the agreement to sell Kirkurk’s Oil'
'Genel Energy provide trading and operations update'
'MOL Group remains committed to maximize the value of its investments in the Kurdistan Region of Iraq, among others in the Shaikan Block'
'The payment, to be shared pro-rata with Tawke license partner Genel Energy plc'
'Following the payment, the Company's current cash position is US$58.4 million.'
'Genel Energy confirm receipt of payment for KRI oil exports from Taq Taq field'
'The first exploration well will be drilled in Halabja in 2016'
'Cost management continues to be an ongoing focus. '
'We are delighted to resume drilling activities at the Demir Dagh field after a period of inactivity'
'Genel’s share of the gross Taq Taq payment is $16.5 million'
'The KRG exported 18,023,075 barrels of crude oil - an average of 600,769 barrels per day'
'Kurdistan Arbitration– High Court of England Update'
'The report also includes information on the Region’s oil revenue'
'The payment is the third such monthly payment received in 2015.'
'Total payments US$86 million gross for Shaikan crude oil export sales'
'9M 2015 revenue is US$324 million and net profit is US$10 million'
'The order relates to an interim payment of $100 million decided by the Tribunal last year on a provisional and reversible basis, because of the purportedly precarious financial condition of Dana.'
'HKN has also declared that the East Swara Tika-1 well, drilled adjacent to the Swara Tika structure, is commercial.'
'The Company remains committed to advancing development on the Garmian and Kurdamir Blocks to grow production and cash flow'
'Kurdistan-Iraq Oil & Gas Conference & Exhibition 2015 '
'TAQA Atrush BV, and a Kurdistan Regional Government approved pipeline contractor.'
'Reported third quarter operated production of 152,507 barrels of oil equivalent per day (boepd) with year-to-date volumes up nearly 30 percent from 2014'
'Gas Plus Khalakan ("GPK"), the sole contractor of the Khalakan Block in the Kurdistan Region of Iraq'
'Tawke field partners have received a gross payment of $30 million for oil exported through the Kurdistan Region of Iraq-Turkey pipeline'
'Revenue for Q3 2015 of $77 million, with total revenue for the first nine months of 2015 of $276 million.'
'The survey was completed safely with zero loss time injuries (LTI). '
'Following the payment, the Company's current cash position is US$76.2 million. In line with its existing debt payment obligations'
'KRG are targeting 900,000 barrels a day by the end of 2015.
'Production from the Sarqala-1 well in the third quarter remained on target, averaging approximately 5,000 barrels of light oil per day '
'Competent Person's Report Update'
'Confirms the evaluation of 215 million barrels of estimated gross (working interest) proved plus probable oil reserves reflected in the year end 2014 evaluation of reserves'
'ShaMaran announces corporate update'
'The consideration comprises an upfront payment of $5 million. A contingent payment of $70 million is payable once gas production exceeds agreed threshold volumes from the Miran and Bina Bawi fields'
'Shaikan field has now surpassed 15 million barrels with the current daily average production in excess of 40,000 barrels of oil '
'Confirmed receipt of USD 30 million as a gross payment '
'Taken with the Taq Taq export payment announced on 8 September 2015, Genel's total September 2015 export payment is $24.5 million.'
'Gulf Keystone now looks forward to the establishment of regular payments for Shaikan export sales. '
'The problem was caused on the Turkish side of the pipeline from Kurdistan '
'Phase 1 of the development includes the installation of an Early Production Facility'
'The CK-8 development well was drilled in the third quarter of 2014.'
'Genel Energy to increase by 17 per cent higher and Gulf Keystone Petroleum was up 7 per cen'
'Damage to mail oil pipeline is stopping growth of region'
'I hope it will operate for more than 140 years, and the income belongs to our Iraqi brothers. '
'The CK-5 well test results are in line with expectations and confirm excellent well productivities'
'We have established a strong financial position for our Company and are well positioned to weather the adverse global market conditions.'
'KRG reported a 6.5% decline over June when the KRG exported 17,130,639 barrels '
'The following operational updates were announced during Oryx Petroleum second quarter financial results'
'Second quarter production from the Sarqala-1 well averaged 5,427 barrels of oil per day '
'The KRG has also been pleased with the level of technical cooperation on the ground from federal government entities such as the North Oil Company (NOC) and SOMO'
'Production totalled 43,700 barrels with 39,500 barrels (240 trucks) loaded by a domestic offtaker for onward sale'
'"Last month the Kurdistan Region exported 4.4 million barrels of oil through SOMO Marketing Company, Baghdad in return sent 166 billion Iraqi Dinars to Kurdistan region,”'
'Tawke production in the third quarter to date averaged 157,000 barrels of oil per day (bopd), of which 134,000 bopd was transferred to the Kurdistan Regional Government for export '
'"Just after the explosion we've closed the oil valves to stop extra oil flow. We have taken measures and the attack won't have an effect on oil supply and demand," '
'At Tawke, wellhead, processing and pipeline capacity was successfully doubled to 200,000 bopd
during H1 2015.'
'The Company continues to produce at stable rates from both Shaikan production facilities (PF-1 and PF-2)'
'the Consortium’s exclusive long-term rights to develop and produce gas and petroleum from both the Khor Mor and Chemchemal fields for the duration of the Contract, being not less than 25 years.'
'Jón Ferrier, (57) will join Gulf Keystone as CEO following three decades spent in exploration, commercial, strategic and leadership positions in the oil and gas and mining industries. '
'Production from the Sarqala-1 well in the Garmian Block commenced on February 11, 2015, and for the remainder of the quarter averaged 5,221 barrels of oil per day'
'Oil flows out of Kurdistan region have hit a new high reaching a rate of 650,000 barrels per day.'
'Provides an operational update for its Garmian Block in Kurdistan'