Gulf Keystone Petroleum Share Discussion Threads

[beernut1] 31/5/2024 06:50

Nice back up if the pipeline goes down

Iraqi PM orders a study on using "Development Road" for oil, gas transportation
Iraq
Iraqi PM
Iraqi PM orders a study on using "Development Road" for oil, gas transportation
2024-05-30 18:02


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Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani has ordered a feasibility study on using the "Development Road" that links the country with Turkiye for transporting oil and gas, his office announced on Thursday.
The directive was issued during a regular meeting of the High Committee for the Development Road Project.

The Abandoned Village - Sand Invasion





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The meeting was attended by the Minister of Transport, senior officials from the Ministries of Planning, Oil, Electricity, and Communications, and advisers to the Prime Minister.
The meeting, according to the statement, touched on the parallel projects along the transit corridor. This includes routes for optical fiber cables, oil and gas pipelines, and electricity and renewable energy transmission lines.
Al-Sudani instructed the Ministry of Oil to conduct a feasibility study on utilizing the Development Road for "transporting and exporting oil and gas according to an investment and production map".
He also directed relevant ministries to solicit new ideas and consult the High Committee before making any decisions.
Originally conceived in the 1980s, and then known as the "Dry Canal" corridor, the $17 billion Development Road project envisions the construction of approximately 1,200km of two-way rail tracks and a new motorway, stretching from al-Faw in Basrah to the Turkish border in the north. This route traverses Basrah, al-Diwaniyah, Najaf, Karbala, Baghdad, and Mosul, establishing a land corridor that connects Baghdad and Ankara.
Since taking office in October 2022, al-Sudani has been a vigorous champion of the Development Road, regarding it as a pivotal driver for Iraq’s economic progress, for bolstering the nation’s global market linkages, and for generating new sources of revenue and job creation. During the May 2023 Arab League summit in Jeddah and during visits by al-Sudani to the UAE and Turkiye, Iraqi officials lobbied for the project. That month, Baghdad hosted a conference to introduce the Development Road to transport ministers and officials from regional countries and seek their backing. Al-Sudani highlighted the project’s significance as a "pillar for a sustainable, non-oil economy, and a link that serves Iraq’s neighbors and the region."

[habshan] 31/5/2024 06:32

"an agreement between the federal government and the Kurdistan Regional Government (KRG) on the equitable sharing of oil revenues."

An interesting post on LSE which may shed light on certain unexpected things that are currently happening like the withdrawal of Iraqi troops from Kirkuk the backpedalling of the "Supreme Court" on minority representation in Kurdish elections and the sudden urgency by the ICG in wanting a resolution to the pipeline issue. There have been a lot of discussions at the highest levels and in the media about it in recent months.

The United Nations Assistance Mission for Iraq (UNAMI) was established by Security Council resolution 1500 (2003) at the request of the Government of Iraq, revised under resolution 1770 (2007) and has since been extended on an annual basis.

From Kheldar on LSE:-

Iraq: Vote on UNAMI Mandate Renewal.

"The Shia parties aligned with Iran want the UN gone. The UN is voting on a draft resolution today to close down the mission within two years. The draft resolution has the following conditions which must be met before the UN exit:

“ It recommended, however, that the timeline be combined with an indicator-based approach to reassure all Iraqi stakeholders—notably minority groups and civil society actors—of “the sustainability of the current political system and their continued safe participation in it, with or without the Mission’s presence”. The proposed indicators include, among other things, the peaceful holding of parliamentary elections; the undertaking of a constitutional review; a sustainable UN human rights presence beyond UNAMI; an agreement between the federal government and the Kurdistan Regional Government (KRG) on the equitable sharing of oil revenues; and continued progress in providing security in all areas of Iraq, including through the progressive transfer of security tasks from the military to the police.”



This may explain Iraq governments eagerness to resolve the oil issue. As reported earlier this week the Iraqi army have pulled out of Kirkuk handing control back to the Kurds.

This may be me putting 2 and 2 together and coming up with 5 so as usual dyor

ATB to all shareholders."

[hydrocarbon1] 31/5/2024 06:07

How many times has this con man said all looks very good in the past year, I have lost count. Check his net worth, he is not worried.

[highlander7] 31/5/2024 04:52

john @john78846295: 8h

PM Barzani: There will be a meeting in #Baghdad next week between Ministry of Natural Resources, Ministry of Oil, & IOCs. The meetings so far have been good & we hope we can bring good news to citizens.

[highlander7] 31/5/2024 04:42

"The question on everybody's lips Broadford is why don't YOU know any of that"

Because he doesnt know what he is talking about its all from Google. But dont just take my word for it try one of his old posts where he admits it himself.


BB POST 579321 of 579339

I have never, ever claimed to be an "Expert" - not on ESP, not on turbines, not on geo-physical or -petroleum areas. Never.

I do have very specialist knowledge of several areas of technology, none of which I believe you even have an inkling of and all in the design & application of specialist engineering equipment not in the O&G industry.

Note

"Not in the O&G Industry"

[luckyclicker] 31/5/2024 04:36

Masrour Barzani: The political parties support the resolution of the issues between Erbil and Baghdadhttps://www.kurdistan24.net/ckb/story/259183-%D9%85%DB%95%D8%B3%D8%B1%D9%88%D8%B1-%D8%A8%D8%A7%D8%B1%D8%B2%D8%A7%D9%86%DB%8C:-%D9%84%D8%A7%DB%8C%DB%95%D9%86%DB%95-%D8%B3%DB%8C%D8%A7%D8%B3%DB%8C%DB%8C%DB%95%DA%A9%D8%A7%D9%86-%D9%BE%D8%B4%D8%AA%DB%8C%D9%88%D8%A7%D9%86%DB%8C%DB%8C-%DA%86%D8%A7%D8%B1%DB%95%DA%A9%D8%B1%D8%AF%D9%86%DB%8C-%DA%A9%DB%8E%D8%B4%DB%95%DA%A9%D8%A7%D9%86%DB%8C-%D9%86%DB%8E%D9%88%D8%A7%D9%86-%D9%87%DB%95%D9%88%D9%84%DB%8E%D8%B1-%D9%88-%D8%A8%DB%95%D8%BA%D8%AF%D8%A7-%D8%AF%DB%95%DA%A9%DB%95%D9%86

[deano64] 31/5/2024 00:30

I think all LTH are well conditioned by now. I certainly have not raised any hopes just yet.

[davetedjack] 30/5/2024 22:12

I have said it before but it is worth saying again I will only believe that a deal has been done and the company is pumping through the pipeline when the company issues an RNS to that effect Nothing else is worth getting excited about

[hangthedj] 30/5/2024 22:11

I'm not arguing with anyone, merely having a reasonable discussion about how I believe the payments to the contractors are calculated via the PSC.

[bigdog5] 30/5/2024 22:07

hangthedj, you're wasting your time arguing with sarah, she's out to mislead all here with tales of unicorns and rainbows I can assure you. Just laugh at her.

Do I have to remind you of just a few of the BS and lies that sarah has come up with over the years in trying to spin and hype the issues?

SOMO are going to move from $6pb to $26 are they?

[redbed] 30/5/2024 21:16

https://x.com/111notout1/status/1796246608193196530?s=61&t=EEAJRmerpfLiAmForyb8Dw

[redbed] 30/5/2024 21:16

Production share implies oilcos own reservesThat's politically a no noProfit share comes to the same thing economicallyThat's easy to sell politically.Its the basis for new contract rounds in the south..Its just what SINOPEC ordered

[confused _gerbill] 30/5/2024 21:15

From.LSE


Khamis al-Khanjar, leader of the Sunni Sovereignty Alliance, underscored the importance of PM Barzani's visit to Baghdad, predicting that all issues will be resolved in the next few days.

Hope this dudes predictions are better than the oil ministers prediction about the 3 days.

It’s been reported on multiple outlets so appears promising.

hxxps://www.basnews.com/en/babat/850126

hxxps://www.kurdistan24.net/en/story/35171-PM-Masrour-Barzani-stresses-Baghdad%E2%80%99s-responsibilities-in-resolving-Erbil-Baghdad-issues

Also

PM Barzani: There will be a meeting in Baghdad next week between Ministry of Natural Resources, Ministry of Oil, & IOCs.

hxxps://x.com/john78846295/status/1796254567598076111

In the meantime, local sales, strong FCF, and buybacks continue.

[redbed] 30/5/2024 21:15

https://x.com/111notout1/status/1796246608193196530?s=61&t=EEAJRmerpfLiAmForyb8Dw

[redbed] 30/5/2024 21:13

Production share implies oilcos own reservesThat's politically a no noProfit share comes to the same thing economicallyThat's easy to sell politically.Its the basis for new contract rounds in the south..Its just what SINOPEC ordered

[redbed] 30/5/2024 21:13

Genel up over 6% today.

[redbed] 30/5/2024 21:12

Iraqi Foreign Minister last April - "Iraqi Foreign Minister Fuad Hussein said during an interview with Rudaw that the Kurdish oil will be sold at the same price SOMO sells it's own oil in the global markets following a deal between Erbil and Baghdad."

[hangthedj] 30/5/2024 20:49

Yes but the discount will still apply when paying the contractors via the PSC calculation.

Think MINISTER Faud has been known to speak with forked tongue and that's being kind to him.

[habshan] 30/5/2024 20:33

Iraqi Foreign Minister last April - "Iraqi Foreign Minister Fuad Hussein said during an interview with Rudaw that the Kurdish oil will be sold at the same price SOMO sells it's own oil in the global markets following a deal between Erbil and Baghdad."

[hangthedj] 30/5/2024 20:25

Surely a bit unrealistic to expect the approx $32 discount to Brent which was in place prior to pipeline closure to be eliminated completely?

[hangthedj] 30/5/2024 19:17

The terms of the PSC and contractor payments is quite a complicated equation to get your head around but basically after historical costs are recouped the 36% figure will no longer apply, It'll be a lower percentage.
Think probably $50 rather than $86 per barrel more realistic with pipeline open when you consider historical discount even if sales are legitimised via SOM0 or however.
Finally not sure ongoing expenditure will remain as low as $6m per month if we're to maintain 60kbpd.

Still very profitable but perhaps more realistic?