15th Oct 2026 13:30
Gulf Keystone Petroleum Ltd - oil producer focused on the Kurdistan region - Says first cargo "was recently lifted" after Iraq's State Oil Marketing Organisation allocated additional barrels, to compensate Gulf Keystone and other parties to the tripartite interim export agreements. Says the top-up barrels reconcile export sales in the fourth quarter of 2025 to international prices. They also start repayments of Gulf Keystone's outstanding top-up receivables.
"The commencement of the top-up payments is a significant positive milestone for the company and the Kurdistan oil industry. The receipt of full PSC entitlement at international prices for our export sales is aligned with the amended budget law and our contracts. We welcome the commitment shown by the Kurdistan Regional Government and the government of Iraq in taking this important step, which reinforces Kurdistan and Iraq as attractive destinations for international oil industry investment.
"As the precedent for payment has now been established, we will continue to pursue recovery of the remaining balance of our top-up receivables. This maiden top-up payment will boost GKP's momentum towards development of the Shaikan Field's large, low-cost reserves and resources base."
Current stock price: 212.00 pence, up 6.5% on Thursday afternoon in London
12-month change: up 13%
By Emma Curzon, Alliance News reporter
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