Gulf Keystone News

Oil companies in Iraqi Kurdistan began withdrawing more staff on Friday in the siege of militants from the Islamic State to the capital of the region, with Afren became the first to announce that he was reducing their production. Shares in London-listed oil and operating in northern Iraq fell for a second day because the closure and evacuation of personnel at other sites became more likely in a region hitherto considered relatively safe compared to rest of the country. The United Islamic group considered non-Muslims and adherents of Shia Islam as apostates and in many cities that has taken control made a tough proposition: become, escape or die.

Oil explorer Gulf Keystone on Thursday denied a media report that its board and investors planned to call for the resignation of founder and Chief Executive Todd Kozel within months. British broadcaster Sky News reported that several Gulf Keystone directors had held talks this week about Kozel's departure, prompted by a series of rows over executive pay and shareholder returns. Gulf Keystone spokesman Terence Franklin denied the report and told Reuters there was no substance to these "rumours". Franklin confirmed the meetings but said he did not know what had been discussed. Sky, citing sources, said some board members wanted an announcement about a succession plan before the company's annual meeting, typically held in July.