|Bid||0.00 x 2065000|
|Ask||91.00 x 7667300|
|Day's range||86.25 - 98.34|
|52-week range||86.25 - 158.37|
|PE ratio (TTM)||-2.86|
|Earnings date||18 Sep 2017 - 22 Sep 2017|
|Dividend & yield||N/A (N/A)|
|1y target est||0.20|
Iraq on Sunday urged foreign countries to stop importing crude directly from its autonomous Kurdistan region and to restrict oil trading to the central government. The call, published in statement from Prime Minister Haider al-Abadi's office, came in retaliation for the Kurdistan Regional Government's plan to hold a referendum on independence on Monday. The central government's statement seems to be directed primarily at Turkey, the transit country for all the crude produced in Kurdistan.
The investment case for Gulf Keystone Petroleum Limited (LON:GKP) is better than ever, argues G A Chester.
Gulf Keystone Petroleum, an oil producer in Iraq's Kurdistan region, managed to lower its annual losses after cost cuts and a debt-for-equity deal that saved the company but uncertainty remains over raising output from its main oilfield. Gulf Keystone reported an annual pretax loss of $17 million on Thursday, down from a $213 million loss in 2015 after it swapped $500 million of debt for equity last year and made stringent cost cuts. Having turned a corner financially, doubts remain over whether it will be able to make needed investments in time to prevent a natural production drop at its Shaikan oilfield.
Gulf Keystone Petroleum, an oil producer in Iraq's Kurdistan region, cut its annual pretax loss to $17 million last year after a debt-for-equity deal saved it from going under. The oil company, which swapped $500 million of debt for equity in deal that diluted shareholders' ownership to 5 percent, reduced its pretax loss from $213 million in 2015, its annual results statement showed on Thursday. Gulf Keystone, which was worth $3 billion in its heyday around 2012, said it had a cash balance of $112.7 million as of Wednesday, meaning the company has enough money available to invest in increasing production at its flagship Shaikan oil field.
** Stocks of oil producers active in Iraq's Kurdistan rise after Reuters reports details of oil pre-payment deals between Kurdistan, trading houses and Rosneft ** Genel Energy +6.5 pct, DNO +3.2 pct and ...
Shares (Berlin: DI6.BE - news) in Norwegian oil company DNO surged on Thursday as it posted forecast-beating operating profit in the third quarter and guided for lower 2016 capital spending than expected by analysts.
LONDON, Oct (Shenzhen: 000069.SZ - news) 26 (Reuters) - Genel Energy (Other OTC: GEGYF - news) , one of the main oil producers in Iraqi Kurdistan, warned on Wednesday that full-year revenue would be at the lower end of its target because of weaker than expected production, sending its shares to a seven-month low. Production at Genel's main oil asset, the Taq Taq field that has reserves of more than 170 million barrels, fell in the third quarter to 58,600 barrels per day (bpd), against 68,800 bpd in the first half of the year, as output from existing wells declined. This forced Genel to warn that 2016 revenue would hit the lower end of its $200 million to $230 million target, which it had already lowered in July from between $200 million and $275 million.