25th Feb 2015 06:32
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd is set on Wednesday to say its board is considering a sale or merger, amid protracted talks between the company and the Kurdistan Regional Government in Iraq over delayed payments for oil exports, Sky News reports.
The company on Friday temporarily suspended exporting its crude oil from the Shaikan project in Iraq until it can agree a more "stable payment cycle" with the Kurdistan regional government, as it continues to try to recover money owed to the company.
Sky, citing City sources, said the company is understood to have hired Deutsche Bank to advise on its options and said the sale is likely to attract the attention of rival explorers in the Gulf region.
http://news.sky.com/story/1433665/oil-group-gulf-keystone-to-signal-sale-talks
By Sam Unsted; [email protected]; @SamUAtAlliance
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