Gulf Keystone Petroleum Share Discussion Threads

[nestoframpers] 31/5/2023 21:54

Come on GKP get thee self sold.

[sniff_the_tip] 31/5/2023 20:24

Kurdistan Region President congratulates Turkish President

Moreover, the Turkish President thanked the KRI President for his support and reaffirmed his country's desire to strengthen ties with Iraq and the Kurdistan Region.

Kurdistan Region President, Nechirvan Barzani, in a phone call, on Wednesday, congratulated Turkish President Recep Tayyip Erdogan on his re-election, according to a statement.

The KRI President wished Erdogan success and expressed the Kurdistan Region's readiness to expand relations with Turkey in all sectors, according to a statement from the Kurdistan Region Presidency.

Moreover, the Turkish President thanked the KRI President for his support and reaffirmed his country's desire to strengthen ties with Iraq and the Kurdistan Region. He then invited the KRI President to the swearing-in ceremony in Ankara, the statement added.

The two sides also discussed the situation in the region and other issues of common interest, according to the statement.

Erdogan received 52 percent of the votes, while his rival Kemal Kilicdaroglu received 48 percent of the vote.

In 2010, the Turkish consulate officially opened in Erbil. Since then, the relationship between Erbil and Ankara has grown substantially, particularly in energy and trade.

Furthermore, on May 10, a new border crossing was opened between Turkey and the Kurdistan Region.

hxxps://www.kurdistan24.net/en/story/31561-Kurdistan-Region-President-congratulates-Turkish-President

[sniff_the_tip] 31/5/2023 20:16

I like to think I’m more intelligent and thoughtful.

[johnbuysghost] 31/5/2023 20:15

Bigdog is the number 1 troll on here.
Sniff is just a Littledog in comparison.

[habshan] 31/5/2023 20:08

You've done some good newshounding today sniff.

Well done.

[sniff_the_tip] 31/5/2023 20:01

I would say that’s a fair assumption Habsham.

[habshan] 31/5/2023 19:55

Well ok sniff so it was part of article 14 but the two sides have still reached a preliminary agreement on the budget amendments with no mention of it even being discussed.

"The amendments under dispute relate to establishing Iraq's State Oil Marketing Organization (SOMO) as the responsible party for selling the Kurdistan Region's oil, decreasing the time for Erbil to pay off its debts from seven years to five, creating an account for the Region's oil revenues in the Iraqi central bank, and granting the finance minister the power to authorize the Region's prime minister to make withdrawals from that account. In the previous draft, that power was held by the Iraqi prime minister, Mohammed Shia al-Sudani."

So it's never been brought up for discussion, the issue of disputed territories is FAR FAR too big an issue to be brought into this now and is such a big issue that successive governments have avoided going anywhere near it.

"Article 140 of the Iraqi constitution details steps to resolve a dispute between the federal and regional government who both claim jurisdiction over disputed areas of the country such as Kirkuk province. Successive federal governments have failed to implement the article."

Apart from which the new budget obligates the Kurds to hand over a minimum of 400kbpd, how are they supposed to do that if they lose 200kbpd and can only therefore produce 200-250kbpd.

So I think we can forget that nonsense.

[sniff_the_tip] 31/5/2023 19:39

So is that specific article not under dispute ? Is that because the KRG have accepted it (ok not likely but can’t be sure) or is that because the other side have agreed to get rid of it completely? Who bloody knows

[sniff_the_tip] 31/5/2023 19:37

Here it is:

Kurdistan Watch

@KurdistanWatch
During the Iraqi governing coalition meeting, the KDP called for several changes to the proposed Iraqi budget bill currently under discussion in the Parliament's Finance Committee.

- In respect to Article (14), paragraph (9), concerning the budget allocation for protesting provinces, the KDP delegation objected to the direct funding, sparking strong opposition from the PUK and the Shiite parties supported the PUK demand.

- On the topic of oil money expenditure authority, as defined in Article (14), paragraph (1), the KDP was adamant in refusing to allow the Iraqi Finance Minister, supervised by the supervisory Bureau, to grant spending authority to the KRG Prime Minister.

- In relation to Article (14), paragraph (10) about oil extraction from Kirkuk and Nineveh provinces, the KDP urged for the removal of the clause prohibiting oil extraction from these areas, currently under KRG control, particularly the Khormala and Kormor fields.

- As for other KDP comments, Shiite parties promised to discuss the matter with their MPs. While several changes are expected, the PUK insisted on retaining the provisions regarding budget allocation for protesting provinces and the phased repayment of KRG public servant salaries in the draft

[sniff_the_tip] 31/5/2023 19:33

“There has been no mention anywhere of the ridiculous amendment to article 10 in which the Finance Committee requested stopping production of 200kbpd in disputed territories.”

Habsham, I read on an article (can’t remember which one), that stated it was paragraph/clause 10, not article 10, It was paragraph/clause 10 of either article 13 or 14. I will try and find it but I’m not sure I will be able to atm

[habshan] 31/5/2023 19:31

Ttiao - "So, does that mean the budget cannot get passed? Or does that mean the budget will be passed without the finance committee?"

This morning beernut posted up a report headlined - "Iraqi, Kurdish parties reach preliminary agreement on budget amendments."

That report and every report we've seen over the last few days has only talked about amendments to articles 13 & 14 of the budget bill, which address these points:-

"The amendments under dispute relate to establishing Iraq's State Oil Marketing Organization (SOMO) as the responsible party for selling the Kurdistan Region's oil, decreasing the time for Erbil to pay off its debts from seven years to five, creating an account for the Region's oil revenues in the Iraqi central bank, and granting the finance minister the power to authorize the Region's prime minister to make withdrawals from that account. In the previous draft, that power was held by the Iraqi prime minister, Mohammed Shia al-Sudani."

So it looks as though there is preliminary agreement on all that.

There has been no mention anywhere of the ridiculous amendment to article 10 in which the Finance Committee requested stopping production of 200kbpd in disputed territories.

There could NEVER have been agreement on that so it looks like it's been dropped.

If this preliminary agreement is turned into a final agreement then I can see no reason why the parliamentary vote can't be resheduled.

[sniff_the_tip] 31/5/2023 19:23

I was hoping I might get an invite to the takeover party tbh

[pittcock] 31/5/2023 19:20

Half the twits on this board will disappear forever once production resumes.

[theythinkitsallover] 31/5/2023 19:16

If the budget gets passed and the pipeline reopens I believe takeover is a certainty….

Let’s just hope these idiots do what’s best for their country and our wallets….

[theythinkitsallover] 31/5/2023 19:14

Their intention is to end the KRG oil industry, and therefore Kurd oilers, but I also believe it’s could be politicians trying to settle old scores and get one over each other.

[jackpotjack] 31/5/2023 19:12

Bit rich SBB.... At least Sniff is always negative GKP.I suspect you will flip to pro GKP soon once you close your short for a few quid and go long.

[pittcock] 31/5/2023 19:12

But theythinkitsallover said that their intervention would be the end of the Kurd oilers. He can't have been wrong can he? Or is he just a nob?

[theythinkitsallover] 31/5/2023 19:08

“In turn, a member of the Finance Committee, Saad Awad Al-Tobi, told Al-Sabah: “A letter arrived from the second deputy, Shakhwan Abdullah, in which we demanded the suspension of our work,” indicating that the committee had almost finished its work and there was nothing left but to vote on the budget as a whole. Suspension of the committee's work violates the parliament's bylaws, which stipulate that suspending the work of the committees is exclusively the prerogative of the Speaker of Parliament, indicating that the committee will continue its side work and discussions, as he put it”

To be honest, I’m not sure the politicians know what’s going on let alone anyone on this board….

[theythinkitsallover] 31/5/2023 19:05

So, does that mean the budget cannot get passed? Or does that mean the budget will be passed without the finance committee?

[habshan] 31/5/2023 18:57

28th May - @DrawMediaNet

Finance Committee of the Iraqi Parliament:
🔻We suspended the work of the committee at the request of the Deputy Speaker of Parliament.
"The Finance Committee of the Iraqi Parliament suspended its work indefinitely, on the request of Shakhawan Abdullah, Deputy Speaker of the Parliament.", A member of the committee told Al-Sabah newspaper.

26th May - Michael Knights @Mikeknightsiraq

Excellent thread on the intentionally crazy deal-breaking amendments being suggested to the draft budget. No doubt these kind of ideas are popular but I'd be surprised if the CF and Sudani wasted months negotiating a more generous deal just to give in to a couple of MPs now.

[stevensupertrader] 31/5/2023 18:14

King Kong would suit you 😊

[buyingacastle1] 31/5/2023 18:05

My girlfriend's kids call me Lord Kiltman Pete with Smelly Feet; Sbb1x - I don't think you are far off with that but I am happy to call you King [something] - you have to make it a bit more fun than just 'King' though when you Lord it up.

[shortsqueezer] 31/5/2023 18:00

Spread Bet Boy. Best ignored tbh.

[johnbuysghost] 31/5/2023 17:40

Listen to me Sbb1x you charlatan, I called the closing bottom at 127p.