Gulf Keystone Petroleum Share Discussion Threads

[khorsiangchew] 23/12/2024 12:01

The contract is confirmed legal. Is there still a need to amend say production sharing to profit sharing or fr current $25? as per contract for transport/distribution to expert assessed figure? Yr view is much appreciated

[0ili0] 23/12/2024 10:43

Barney and Oscar thougt the news was positive. Hugo was happy too. Rupert is desperate to get his fund invested now.
📈📈📈🏦7975;

[habshan] 23/12/2024 09:22

B_G - "That ruling = green light for M+A here."



"The parliamentary committee member highlighted the broader ramifications of this ruling that marks an important legal victory for the Kurdistan Region's energy sector, observing that it serves as a strong encouragement for existing operators in the Kurdistan Region's oil and gas sector to increase their investments and operations.

Moreover, the decision is likely to improve the Kurdistan Region's attractiveness to new international energy companies considering market entry and investment.

This legal development signifies a vital turning point in the ongoing dialogue between Baghdad and Erbil concerning the management of Kurdistan Region's hydrocarbon resources, potentially paving the way for improved stability in the region's energy sector."

[bang_gone] 23/12/2024 09:10

That ruling = green light for M+A here.They have obviously long since agreed a sale.The conditions necessary for it to publically complete must now be very nearly satisfied .

[habshan] 23/12/2024 08:09

Rudaw Digital.

Miles Cagins, spokesman for the Kurdistan Oil Industry Association (Epicor), told Rudaw that the damage caused by the suspension of oil exports from the Kurdistan Region through the Iraq-Turkey pipeline has reached "$23 billion to $24 billion."

The spokesman said the decision of the Karkh Court of Appeal in Baghdad not to cancel the oil contracts between the Kurdistan Regional Government and international companies will dispel the concerns of Iraqi officials, who previously doubted the legality of the contracts.

International oil companies operating in the Kurdistan Region of Iraq (KRG) won a major legal victory in Baghdad on November 18 after the Karkh Court of Appeal rejected a request by the Iraqi Oil Ministry and quashed previous decisions nullifying contracts between the companies and the Kurdistan Regional Government.

The Karkh Court of Appeal ended the legal campaign of the Iraqi Oil Ministry against nine companies, including; Adax, Dana Gas, DNO, Gazprom Neft, Ganal Energy, Gulf Keystone, HKN, Shamaran and Western Zagros.

"This decision will eliminate a problem that was being discussed behind the scenes. We would hear Baghdad officials expressing concerns about whether our contracts are legal or not," Kagins told Rudaw's 07:00 bulletin.

"For many years we have been saying that our contracts are legal and supported by the London Court of Arbitration. Now everyone in Iraq understands that the contracts between international oil companies and the Kurdistan Regional Government are good, fair and legal," he said.

[ozzmosiz] 23/12/2024 07:53

That's correct, close if 12:30 on Tuesday and reopens on Friday 27th, normal open and closing time

[bang_gone] 23/12/2024 07:44

Yes me too , got paid a week early so my usual monthly £ 800 going in this am.I think we are no more than 3weeks from sale announcement.Could be just days.

[bang_gone] 23/12/2024 07:13

#gkp #GenlThis decision will eliminate a problem that was being discussed behind the scenes. We would hear Baghdad officials expressing concerns about whether our contracts are legal or not said Apikur spokesmanHTTPS://x.com/kheldardrasnia/status/1871082139464405325?s=61&t=EEAJRmerpfLiAmForyb8Dw

[shortsqueezer] 23/12/2024 07:13

Normal time 8 I think. Closes 12:30 lunchtime tomorrow.

[pittcock] 23/12/2024 07:11

I believe it's normal trading today. From 8am.

[beernut1] 23/12/2024 07:07

Morning Guys. What time does stock market open today anyone. I’m going for possibly my last buy in. Gla

[bang_gone] 23/12/2024 07:07

#gkp #GenlThis decision will eliminate a problem that was being discussed behind the scenes. We would hear Baghdad officials expressing concerns about whether our contracts are legal or not said Apikur spokesmanHTTPS://x.com/kheldardrasnia/status/1871082139464405325?s=61&t=EEAJRmerpfLiAmForyb8Dw

[putup] 23/12/2024 07:05

#gkp #Genl
This decision will eliminate a problem that was being discussed behind the scenes. We would hear Baghdad officials expressing concerns about whether our contracts are legal or not said Apikur spokesman

[shareho1der] 23/12/2024 00:30

The fact that people like Abdul Ghani and others in the Ministry of Oil thought they could have a law that was only enacted in 2022 applied retroactively to annul contracts that were signed 15 years earlier defies belief. It's just common sense that applies the world over that you can't do that.And that apparently is the basis on which the Appeals Court rejected their case.How on earth has it taken 3 years to throw it out.Draw Media - Kurdistan Regional Government's oil contracts are valid.The Karkhi court in Baghdad has rejected the Iraqi Oil Ministry's complaint to cancel the Kurdistan Region's oil contracts with foreign oil companies, saying the reasons relied on by the Federal Supreme Court in its February 2022 decision cannot be applied to oil contracts signed before the decision. It will pave the way for the resumption of oil exports from the beginning of next year.The Baghdad Court of Appeal has rejected a complaint filed by the Iraqi Oil Ministry seeking the cancellation of oil contracts with the Kurdistan Region. The complaint was filed against nine foreign oil companies in the Kurdistan Regional Government (KRG) oil sector, including (Adax, Dana Gas, DNO, Gazprom Neft, Genel Energy, Gulf Keystone, HKN Energy, Shamaran, Western Zagros). On November 18, he issued his decision dismissing the complaint.The Karkh court ruled that even if the contracts of the Kurdistan Region are based on the legal principles that the Iraqi Federal Supreme Court in February 2022 declared unconstitutional, the contracts are still considered "valid.In mid-February 2022, the Iraqi Federal Supreme Court annulled the Kurdistan Region's oil and gas law based on a complaint filed by the Iraqi Oil Ministry, obliging the region to hand over its oil and gas to the federal government.In July 2022, the Karkh court ruled to cancel the contracts of seven companies, but did not rule on the cases of Dana Gas and Gazprom.However, the Ministry of Natural Resources did not stop and appealed the decisions of the Karkh court."The Karkh court rejected the complaint and annulled a number of 2022 decisions of the Iraqi Oil Ministry that nullified several oil contracts of the Kurdistan Regional Government," said Sabah Subhi, a member of the Kurdistan Democratic Party (KDP) faction.In rejecting the Oil Ministry's complaint, the Karkh court said the reasons relied on by the Federal Court in the February 2022 decision cannot be applied to contracts signed before the court's decision, based on a general principle of Iraqi civil law.According to the decision, the oil contracts signed by the Kurdistan Region with the companies are considered "valid and binding for both parties" and no party outside the contracts has the right to appeal."The Iraqi Oil Ministry has 30 days to appeal the court's decision. If the ministry does not appeal the court's decision, the case will be closed," Subhi said.The decision comes as the two governments of Baghdad and Erbil recently agreed on an amendment to the article on the price of oil production and transportation in the Kurdistan Region and the amendment is scheduled to be approved in early 2025 and export oil through pipelines to resume the Turkish World Port, which has been suspended since March 25, 2023, due to the decision of the Paris International Court of Arbitration against Turkey in using the Iraq-Turkey oil pipeline to export Kurdistan oil without the consent of the Iraqi federal government.

[shareho1der] 23/12/2024 00:29

I don't know

[36redhill] 22/12/2024 21:47

Will we get an announcement tomorrow?

[putup] 22/12/2024 21:25

Gkp is sold.

[nestoframpers] 22/12/2024 20:00

Iraqis know that the Infidels will profit from this and they hate us for what Bush and Blair did, that and the fact the Kurds will too . Crazy stuff but emotions cloud sound judgement. Thanks all the posters who have made an effort to talk sense on here , you have helped me keep positive.

[habshan] 22/12/2024 18:21

The fact that people like Abdul Ghani and others in the Ministry of Oil thought they could have a law that was only enacted in 2022 applied retroactively to annul contracts that were signed 15 years earlier defies belief. It's just common sense that applies the world over that you can't do that.

And that apparently is the basis on which the Appeals Court rejected their case.

How on earth has it taken 3 years to throw it out.

Draw Media - Kurdistan Regional Government's oil contracts are valid.

The Karkhi court in Baghdad has rejected the Iraqi Oil Ministry's complaint to cancel the Kurdistan Region's oil contracts with foreign oil companies, saying the reasons relied on by the Federal Supreme Court in its February 2022 decision cannot be applied to oil contracts signed before the decision. It will pave the way for the resumption of oil exports from the beginning of next year.

The Baghdad Court of Appeal has rejected a complaint filed by the Iraqi Oil Ministry seeking the cancellation of oil contracts with the Kurdistan Region. The complaint was filed against nine foreign oil companies in the Kurdistan Regional Government (KRG) oil sector, including (Adax, Dana Gas, DNO, Gazprom Neft, Genel Energy, Gulf Keystone, HKN Energy, Shamaran, Western Zagros). On November 18, he issued his decision dismissing the complaint.

The Karkh court ruled that even if the contracts of the Kurdistan Region are based on the legal principles that the Iraqi Federal Supreme Court in February 2022 declared unconstitutional, the contracts are still considered "valid.

In mid-February 2022, the Iraqi Federal Supreme Court annulled the Kurdistan Region's oil and gas law based on a complaint filed by the Iraqi Oil Ministry, obliging the region to hand over its oil and gas to the federal government.

In July 2022, the Karkh court ruled to cancel the contracts of seven companies, but did not rule on the cases of Dana Gas and Gazprom.

However, the Ministry of Natural Resources did not stop and appealed the decisions of the Karkh court.

"The Karkh court rejected the complaint and annulled a number of 2022 decisions of the Iraqi Oil Ministry that nullified several oil contracts of the Kurdistan Regional Government," said Sabah Subhi, a member of the Kurdistan Democratic Party (KDP) faction.

In rejecting the Oil Ministry's complaint, the Karkh court said the reasons relied on by the Federal Court in the February 2022 decision cannot be applied to contracts signed before the court's decision, based on a general principle of Iraqi civil law.

According to the decision, the oil contracts signed by the Kurdistan Region with the companies are considered "valid and binding for both parties" and no party outside the contracts has the right to appeal.

"The Iraqi Oil Ministry has 30 days to appeal the court's decision. If the ministry does not appeal the court's decision, the case will be closed," Subhi said.

The decision comes as the two governments of Baghdad and Erbil recently agreed on an amendment to the article on the price of oil production and transportation in the Kurdistan Region and the amendment is scheduled to be approved in early 2025 and export oil through pipelines to resume the Turkish World Port, which has been suspended since March 25, 2023, due to the decision of the Paris International Court of Arbitration against Turkey in using the Iraq-Turkey oil pipeline to export Kurdistan oil without the consent of the Iraqi federal government.

[redbed] 22/12/2024 17:19

How about let IOC buy the company and build their own pipelines....LolIts wakey wakey peeps...Lol he company is obviously sold

[habshan] 22/12/2024 17:16

shortsqueezer - "So with this ruling. Does it mean that the KRG can go it alone without going via SOMO ?"

Both the KRG and APIKUR have said they're happy to go via SOMO, but this new ruling may change that, it depends on what the KRG want to do, it completely changes the dynamic.

The "Supreme Court" ruled that the PSCs were illegal because they weren't in line with the constitution.

The Karkh Court has now ruled that they are legal, which means that they have studied the constitution and determined that the PSCs are in line with it.

If they aren't in line with the constitution they can't be legal.

The PSCs can only be legal and in line with the constitution if the constitution says that the Kurds have the right to sign them, and the Kurds would only have the right to sign them if the constitution conferred on them the powers to manage their own O&G sector.

And if the Kurds have the right to manage their own O&G sector then no they cannot be made to sell via SOMO if they don't want to.

However, the Federal Government have said that in exchange for their share of the budget they want the Kurds to send SOMO 400kbpd at Ceyhan, which the Kurds would probably agree to go along with until they decide otherwise as long as a rock solid payment mechanism is in place and which APIKUR would have to agree to.

There's no doubt however that the Kurds would just prefer that Baghdad was out of their lives altogether as would we all.

SOMO aren't trustworthy , they could come up with a hundred and one reasons to throw a spanner in the works and stop the oil flowing, one day the oil is within specified parameters and the next day it isn't for instance, they could fabricate all sorts of problems on the orders of the MoO.

Let's see.

[shortsqueezer] 22/12/2024 16:45

So with this ruling. Does it mean that the KRG can go it alone without going via SOMO ? And if so would it not be worth waiting until September and then hit the throttle? I just don't see what advantage there is to get the ICG involved any more.

[redbed] 22/12/2024 16:24

CorrectI think perhaps peeps might finally get what has been obvious for months - GKP is sold TBA - and this news probably the last pre closing precedent of the sales implementation agreement they have been in for well over a year.SOLD.

[steephill cove] 22/12/2024 16:00

Because he is a plant 🪴 ✅

[johnbuysghost] 22/12/2024 15:15

Why is Broadford lying again?