Gulf Keystone Petroleum Share Discussion Threads

[theythinkitsallover] 03/6/2023 17:33

“Dilshad Shahab, the Kurdistan Regional Government (KRG) president, said that the Kurdistan Regional Government (KRG) will not hold a bilateral meeting with the Turkish president today "They will have a continuous relationship with the Kurdistan Region and will work on the issue of oil exports in the near future."

hxxps://www.rudaw.net/sorani/kurdistan/0306202312

[habshan] 03/6/2023 16:41

"Maybe Baghdad are quite happy with only receiving 200,000 and paying the KRG for that."

That's not how it works.

Like everywhere else in Iraq, how much the Kurds get paid from the budget doesn't depend on how much oil they produce, if it did then Basra would get almost all of it, it depends on their percentage of the Iraqi population which is 12.67% and that apparently works out at $1.6 billion a month.

[theythinkitsallover] 03/6/2023 16:38

Suppose we will just have to wait and see……

[habshan] 03/6/2023 16:31

"the Shiite political forces clearly don’t want the KRG producing from those fields."

And this is what the Federal Supreme Court wants:-

"The Federal Court has ruled that any additions or changes outside the agreement between Erbil and Baghdad are not acceptable by the Finance Committee and the text of the agreement cannot be changed. It is against the agreement between Erbil and Baghdad."

[theythinkitsallover] 03/6/2023 16:30

“The sources pointed out that the federal government is committed to paying the money of 400 thousand barrels from the sale of oil to Erbil in the event that it receives it”

Maybe Baghdad are quite happy with only receiving 200,000 and paying the KRG for that. While taking control of the other fields

[theythinkitsallover] 03/6/2023 16:26

No idea Habsham, but it’s clearly still be discussed and the Shiite political forces clearly don’t want the KRG producing from those fields.

If the KRG have to stop oil production from Shaikan, I would imagine we will then have to sign a contract with Baghdad…

[habshan] 03/6/2023 16:23

Ttiao, answer me this.

How in your opinion are the KRG going to deliver 400kbpd if their output is reduced by 200kbpd.

[theythinkitsallover] 03/6/2023 16:14

Erm here…?

"discussions are underway regarding the management of border crossings between the federal government and the region, and preventing the extraction of oil from the Nineveh and Kirkuk fields by Kurdistan."

[habshan] 03/6/2023 16:13

Ttiao - "Please read this article below. It is still being argued about."

I can't see anywhere in that article any reference to paragraph 10 and the shutting in of 200kbpd.

What I CAN see is this:-

"On Tuesday, May 31, economist Nabil Al-Marsoumi declared that the coordination framework that includes the ruling Shiite political forces in the country had submitted a new proposal on paragraphs 13 and 14 of the budget for the Kurdistan Region.

According to what is stipulated in the proposal, it is for the Kurdistan Region to deliver 400 thousand barrels of oil per day to the National Oil Marketing Company "SOMO",

The sources pointed out that the federal government is committed to paying the money of 400 thousand barrels from the sale of oil to Erbil,"

[40quidminimum] 03/6/2023 15:51

Hostile Bid any day...

[lookintomyeyes] 03/6/2023 14:56

HOSTILE acquirers

[theythinkitsallover] 03/6/2023 14:46

Al-Sabah newspaper report:
• The Finance Committee of the Iraqi parliament is currently awaiting a political compromise and the outcome of the governing coalition's meeting to address the ongoing disputes regarding the Kurdistan region's share.
• A committee member stated that amendments to the already passed budget bill are possible if political parties can reach an agreement.
• Given the legislative recess starting on June 9, parliament aims to vote on the budget before that date. The budget vote is anticipated to take place on Sunday or Monday.

[highlander7] 03/6/2023 14:15

hxxps://www.thales-ld.com

The United States has had a long history of providing foreign aid to Turkey, especially in the form of economic and military assistance. Since the 1950s, the US has provided Turkey with billions of dollars in development aid, and currently provides the country with $2.3 billion in total annual aid.

[theythinkitsallover] 03/6/2023 14:13

Thanks. Always like reading your replies as do many others. Still, I think it’s something we all need to keep a close eye on.

[habshan] 03/6/2023 14:08

Ttiao - "Big week or two coming up. Looks like they're still arguing about article 14 and whether or not to shut in production from Shaikan!"

Where does it say they're arguing about paragraph 10, they're far more likely to be arguing about paragraphs 1 and 9 which is what we keep hearing about:-

"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 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."

"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."

Paragraph 10 is not being mentioned.

[theythinkitsallover] 03/6/2023 13:57

Correct PT, yet H7 keeps quoting a figure of $5 billion……;hence he was asked where he got that figure from, but didn’t reply. I think he’s just making it up

[theythinkitsallover] 03/6/2023 13:43

Big week or two coming up. Looks like they’re still arguing about article 14 and whether or not to shut in production from Shaikan!

Budget disputes over the Kurdistan Region's share should not be turned into political disputes

"According to our information, after the meeting of the state management coalition, an agreement was reached on Article 13 and the Kurdistan Region has no problems with dealing with its oil," Kochar said "It means that it agrees to hand over its oil to the Oil Marketing Company (SOMO). What remains is Article 14, which does not seem to have been agreed upon yet.

hxxps://www.rudaw.net/sorani/business/030620232

[theythinkitsallover] 03/6/2023 11:54

“but as you say the Share price never lies.”

Well this could be read both ways. share price of £1.40 for a massive land based oil field is way way way too cheap…. So clearly the market is adding on MASSIVE political risk.

but as you say the Share price never lies.

H7, you never did answer the question about where you got your figures from regarding the amount of aid USA gives to Turkey

[highlander7] 03/6/2023 11:06

Looks like it. PI's are always the last to know , but as you say the Share price never lies.

[theythinkitsallover] 03/6/2023 10:38

Iraq Budget Amendments Violate Sudani Cabinet's Agenda: Official

Recent alterations made to Iraq's federal budget bill are essentially against Prime Minister Mohammed Shia' al-Sudani’s cabinet objectives, and violate standing agreements with Erbil, according to a prominent Iraqi politician.

"Changes made to articles 13 and 14 of the federal budget bill are against the contents of the existing agreements and government agenda," Aseer al-Sharih, member of the Al-Bedaya Movement's politburo, told Kurdistan 24 today.

The Kurdistan Regional Government (KRG) and the federal government of Iraq have previously reached a joint agreement on outstanding problems. Any changes made will therefore harm the government agenda."

Last year, the KRG and Iraqi factions party to the State Administration Coalition signed a 24-point agreement that ended the political impasse which ensued the October 2021 parliamentary elections and led to the formation of this federal cabinet in Baghdad.

The agreement outlines a consensus approach to resolve lingering problems between Erbil and Baghdad, and all parties to the agreement have signed it.

The final draft of the federal budget bill was intended to reflect the agreement reached among parties to the State Administration Coalition, as well as address ongoing efforts to resolve other remaining disputes. However, last month, certain members from some special interest groups on the Finance Committee in the federal parliament made changes to the budget bill, altering its details and adding additional provisions that are widely viewed as violations of standing agreements between Erbil and Baghdad.

Kurdistan Region authorities, including the the Region's president, have characterized these unilateral budget amendments as "unconstitutional" clauses that violate Kurdistan's federal status, which is protected by the country's constitution. There is a growing consensus among Iraqi and Kurdish officials that these alterations are hostile towards Erbil, and will only result in further complications in relations between Erbil and Baghdad if not reversed.

hxxps://www.basnews.com/en/babat/809920

[jackpotjack] 03/6/2023 10:17

Agree but we moving up so looks like pipe restart soonish.