Iraq: GKP up for sale

Shaikan operator Gulf Keystone Petroleum (GKP) has confirmed rumours that it is potentially for sale. In a 25 February strategic update, the company said it had “recently engaged in discussions with a number of parties in relation to possible asset transactions or a sale of the company”. Though it stressed the talks were preliminary and a sale far from certain, shares leapt from 35.50p at close of trading on 24 February to 54.75p by the end of 25 February, after Sky News broke the story in the early hours that day.