Gulf Keystone struggles to overcome oil crash

Gulf Keystone struggles to overcome oil crash

With the oil price crash dominating its first half, Gulf Keystone Petroleum (GKP) cut operating costs and maintained a net cash position despite the major loss of revenue. The long-running delays in getting paid by the Kurdistan authority for production have also continued, with recent months’ payment coming through but $73m (£55m) due from November to February still outstanding. 

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