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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Gulf Keystone Petroleum Ltd | GKP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| -9.40 | -7.68% | 113.00 | 16:35:23 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 120.00 | 111.00 | 120.00 | 113.00 | 122.40 |
| Industry Sector |
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| OIL & GAS PRODUCERS |
| Top Posts |
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Posted at 01/4/2024 08:53 by beernut1 Oil rises as investors bet on tighter supply, China's economyEconomy Oil China Oil rises as investors bet on tighter supply, China's economy 2024-04-01 07:36 Font Shafaq News / Oil prices rose on Monday, adding to recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and as upbeat Chinese manufacturing data supported outlooks for improving demand. Brent crude rose 29 cents, or 0.3%, to $87.29 a barrel by 0331 GMT after rising 2.4% last week. U.S. West Texas Intermediate crude was at $83.48 a barrel, up 31 cents, or 0.4%, following a 3.2% gain last week. Trade volumes are expected to be thin on Monday as several countries are closed for Easter holidays. Both benchmarks finished higher for a third consecutive month in March, with Brent holding above $85 a barrel since the middle of last month, as the Organization of the Petroleum Exporting Countries (OPEC) and their allies, a group known as OPEC+, pledged to extend production cuts to the end of June which could tighten crude supply during summer in the Northern Hemisphere. Russian Deputy Prime Minister Alexander Novak said on Friday that its oil companies will focus on reducing output rather than exports in the second quarter in order to evenly spread production cuts with other OPEC+ member countries. Drone attacks from Ukraine have knocked out several Russian refineries, which is expected to reduce Russia's fuel exports. "Geopolitical risks to crude and heavy feedstock supplies add to strong Q2 24 demand fundamentals," Energy Aspects analysts said in a note. Almost 1 million barrels per day (bpd) of Russian crude processing capacity is offline from the attacks, impacting its high-sulphur fuel oil exports which are processed at Chinese and Indian refineries, the consultancy added. In Europe, oil demand was firmer than expected, rising 100,000 bpd on year in February, Goldman Sachs analysts said, versus its forecast of a 200,000 bpd contraction in 2024. Europe's firm demand, softness in U.S. supply growth coupled with a possible extension of OPEC+ cuts through 2024 outweigh downside risk from persistent softness in China's demand, they said in a note. Crude oil production by the United States, the world's largest producer, dropped 6% in January from December's record high, following freezing weather, data from the Energy Information Administration showed on Friday. "We see the risks to our forecast that Brent will average $83/bbl in 2024Q4 as skewed moderately to the upside," the analysts said. Also supportive for prices, China's manufacturing activity expanded for the first time in six months in March, an official factory survey showed on Sunday, supporting oil demand at the world's largest crude importer, even as a crisis in the property sector remains a drag on the economy. Investors are also scouring U.S. economic data for signs of when the Federal Reserve will cut interest rates this year which will support the global economy and oil demand. |
Posted at 21/3/2024 09:59 by mmt1 Investor & analyst presentationGKP's management team will be hosting a presentation for analysts and investors at 10:00am (GMT) today via live audio webcast: hxxps://brrmedia.new Management will also be hosting an additional webcast presentation focused on retail investors via the Investor Meet Company ("IMC") platform at 12:00pm (GMT) today. The presentation is open to all existing and potential shareholders and participants will be able to submit questions at any time during the event. hxxps://www.investor |
Posted at 02/3/2024 12:13 by punter26 American energy expert: Kurdistan Region is the most suitable place for investments(PeyamaKurd - 2.03.2024 ) "Energy expert Matthew Zeiss stated that there are investment opportunities in the Kurdistan Region and said that Kurdistan is the most suitable place for investment compared to other regions of Iraq. Zeiss stated that there are many investment opportunities in the Kurdistan Region, especially in the field of agriculture, and said, "There are many investment opportunities in the Kurdistan Region, especially in the field of agriculture. The opportunities provided by the government have drawn the world's attention to investing in the Kurdistan Region. Kurdistan Region can become Iraq's food basket by industrializing its agriculture, this is a very important success in itself." Matthew Zeiss said about the visit of the delegation of the Kurdistan Regional Government to the United States, "The goal of the government delegation in Washington is to stabilize the security of the Kurdistan Region and make more American companies invest in the Kurdistan Region." The American expert pointed out that the Kurdistan Region is the most suitable place for investments compared to other regions of Iraq, because its economy is diverse and said, "America can play an important role in restoring the Kurdistan Region's oil exports. Turkey has announced that it is ready to restart the oil pipeline to the Kurdistan Region and there is no problem for the oil pipeline, now it is Baghdad's turn to approve the restart of the process. Unfortunately, the situation in Baghdad is as follows: "Some parties don't want the oil export to continue, so the US needs to put pressure on Baghdad. If the oil export to the Kurdistan Region is not started again, it will affect the political stability in Iraq and the price of the world oil market." The American expert Zeiss pointed out that the Kurdistan Regional Government has initiated economic reforms to diversify its economy and said, "The Kurdistan Region exported pomegranates and honey. Kurdistan is a major agricultural producer and has a good potential to become an exporter, not an exporter. The President of Erbil Chamber of Commerce and Industry Geylan Haji Said said about the investments in the Kurdistan Region, "The Kurdistan Region, which has a suitable geography in terms of investment, stands out with its stability." Haji Said pointed out the importance of Prime Minister Masrur Barzani's visit to the United States and said: "It was a very important visit. We expect many American investors to visit the Kurdistan Region and invest in different sectors. The United States needs its support for the region. "Prove Kurdistan. Because, as he explained, they have strong economic relations, especially with trade partners." Haji Saeed pointed out that the investment laws in Kurdistan encourage investors and said that the Kurdistan Region gives the most opportunities for foreign investors to come to the Kurdistan Region, evaluate investment opportunities and start working. On Thursday 29.02.2024, the American Chamber of Commerce welcomed Prime Minister Masrur Barzani. At the reception, which was attended by many officials, employers, investors and personalities of the Kurdish diaspora in America, President Barzani thanked the support and friendship of America and its companies for investments in the Kurdistan Region. The prime minister also emphasized on the reform agenda of the ninth cabinet in the field of economic diversity and building a strong infrastructure in the Kurdistan Region and requested American companies and investors to visit the Kurdistan Region and find investment opportunities in different fields." |
Posted at 02/3/2024 12:12 by punter26 A rare photo showing HKN Energy's Matthew Zais looking uncharacteristically happy! :) - taken two days ago. (Punter26)Matthew Zeiss: Kurdistan is the best place to invest compared to other parts of Iraq Kurdistan24 "After the visit of Prime Minister Masrour Barzani to the United States, a large number of US investors are expected to come to the Kurdistan Region, an energy expert says: investment and opportunities in the Kurdistan Region are many. “We have a strong relationship with the US Chamber of Commerce. Matthew Zeiss, an energy expert, and Gaylan Haji Saeed, president of the Erbil Chamber of Commerce and Industry, spoke about the visit of the Kurdistan Regional Government (KRG) Prime Minister to the United States It will focus on the economic and political situation in the Kurdistan Region. The two sides also discussed the investment opportunities in various sectors and the facilities provided by the Kurdistan Regional Government to investors in this field. At the beginning, Matthew Zeiss, an energy expert, said that there are many investment opportunities in the Kurdistan Region, especially in the field of agriculture, which has a very good opportunity, the opportunities in the Kurdistan Region are very different. The energy expert also mentioned the facilities of the Kurdistan Regional Government in this sector and said: There are many investment opportunities in the Kurdistan Region in most sectors, especially in the agricultural sector, and the facilities of the Kurdistan Regional Government in this field The eyes of the world should be on investing in the Kurdistan Region. “The Kurdistan Region can industrialize its agriculture to become a basket of food for Iraq and export it, which is a very important achievement in itself,” he said. Matthew Zais, spoke about the visit of the Kurdistan Regional Government delegation to the United States and said that the government delegation in Washington aims to stabilize the security of the Kurdistan Region and to attract more US companies to invest in the Kurdistan Region. The energy expert pointed out that the Kurdistan Region is the best place for investment compared to other parts of Iraq, because the Kurdistan Region has a diversified economy and there are investment opportunities in different sectors. "The United States can play an important role in resuming oil exports from the Kurdistan Region, while the Turkish government has said the pipeline is ready and they have no objection to resuming it," he said "Obviously, some forces in Baghdad do not want to resume oil exports, so the United States must put pressure on Baghdad," he said. "Until the Kurdistan Region resumes oil exports, it will affect political stability in Iraq, the pressure on the region will continue, and will also affect oil prices in the world markets," he said. "It is very important for the Kurdistan Region to resume oil exports, and it is also very important for the United States," Zeiss said. The energy expert, in his speech, considered it necessary to talk about economic reform, in this regard, pointed out that the Kurdistan Regional Government has launched economic reform to diversify its economy. “As we have seen, the Kurdistan Region exported pomegranates and honey, and Kurdistan has good potential to become a major agricultural producer, an exporter rather than an importer,” he said. For his part, Gaylan Haji Saeed, President of the Erbil Chamber of Commerce and Industry, expressed his views on investment in the Kurdistan Region, saying: “The Kurdistan Region is an important geographical place for investment, and its stability is distinguished from all other Iraqi cities. The President of the Erbil Chamber of Commerce and Industry said that the opportunities for investment in the Kurdistan Region are very important, and there are investment opportunities in many different sectors. Gaylan Haji Saeed, on the importance of Prime Minister Masrour Barzani's visit to the United States, said: "It was a very important visit, and we expect a large number of US investors to visit the Kurdistan Region and invest in different sectors. The President of the Erbil Chamber of Commerce and Industry said that the United States must prove its support for the Kurdistan Region, because as he points out, they have a strong economic relationship with the United States, especially with their Chamber of Commerce. He hoped that the United States will increase the number of companies in the Kurdistan Region, in order to further revive the region's economy. He added that the Kurdistan Region has provided the most facilities for foreign investors to come to the Kurdistan Region and see investment opportunities and start working. Gaylan Haji Saeed, pointed out that the investment laws in Kurdistan are an incentive for investors, and stressed that the progress of the Kurdistan Region is proof that there are many investment opportunities. The US Chamber of Commerce in Washington on Thursday evening (February 29, 2024) organized a meeting to welcome Masrour Barzani, Prime Minister of the Kurdistan Regional Government. In the reception, which was attended by a large number of prominent US officials, employers and investors and several Kurdish diaspora personalities living in the United States, Prime Minister Masrour Barzani delivered a speech and thanked the friendship and support of the US and US companies for their investments in the Kurdistan Region. The Prime Minister also referred to the reform agenda of the ninth cabinet in the field of economic diversification and building a strong infrastructure in the Kurdistan Region, and called on US companies and investors to visit the Kurdistan Region and see investment opportunities in various fields." |
Posted at 28/2/2024 11:41 by shareho1der Update on Shaikan Field local sales & Notice of 2023 Full Year ResultsToday 07:00Gulf Keystone Petroleum Ltd (GKP) Update on Shaikan Field local sales & Notice of 2023 Full Year Results 28-Feb-2024 / 07:00 GMT/BST 28 February 2024 Gulf Keystone Petroleum Ltd. (LSE: GKP)("Gulf Keystone", "GKP", "the Group" or "the Company") Update on Shaikan Field local sales & Notice of 2023 Full Year Results Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, is today providing an update on Shaikan Field local sales ahead of its 2023 Full Year Results on 21 March 2024. Local sales update Local sales volumes have rebounded in recent weeks with gross average sales this month to 26 February of c.38,400 bopd, reflecting higher market demand for certain refined products, the easing of seasonal logistic challenges and a realised price of c.$25/bbl. The increase has brought gross average sales in 2024 year to date to c.29,600 bopd. At current volumes and realised prices, sales for February 2024 are expected to be c.$10m net to GKP, above expected monthly net capex and costs of c.$6 million (breakeven at gross sales of c.22,200 bopd), enabling the continued reduction of accounts payable balances. The Company continues to receive advance payments for its net entitlement of 36% of gross sales revenue. Looking ahead, while we expect demand in 2024 to remain variable, we see strong local market demand as we enter March and are looking to increase sales above current levels. Notice of 2023 Full Year Results The Company confirms it will be announcing its results for the full year ended 31 December 2023 on Thursday 21 March 2024. GKP's management team will be hosting a presentation for analysts and investors at 10:00am (GMT) via live audio webcast: https://brrmedia.new |
Posted at 01/2/2024 08:37 by beernut1 KRG Council of Ministers addresses financial entitlementsAt the start of the meeting, Prime Minister Barzani discussed the results of the KRG delegation to the Forum in Davos, Switzerland earlier in January. author_image Kurdistan 24 16 Hours The meeting of the KRG Council of Ministers, Jan. 31, 2024. (Photo: KRG) The meeting of the KRG Council of Ministers, Jan. 31, 2024. (Photo: KRG) Kurdistan Masrour Barzani KRG Counsil of Ministers Financial entitlements ERBIL (Kurdistan 24) – Kurdistan Region Prime Minister Masrour Barzani on Wednesday said their primary focus at the World Economic Forum in Davos was to underscore the “significance of upholding security, peace, and stability in the Kurdistan Region,” as well as putting an “end to the attacks targeting the region,” according to a Kurdistan Regional Government (KRG) statement. The remarks came during a KRG Council of Ministers meeting in Erbil, which the premier chaired. At the start of the meeting, Prime Minister Barzani discussed the results of the KRG delegation to the Forum in Davos, Switzerland earlier in January. The premier further emphasized that the Forum was a highly significant event, and it reflected the Kurdistan Region's geopolitical standing positively to world leaders. Barzani also noted that this year, in Davos, they successfully inaugurated the Kurdish House, a place for leaders and investors to learn more about the Kurdistan Region and its economic outlook. “This event saw the participation of numerous investors with the aim of fostering economic and trade relations between the private sector, as well as both domestic and foreign investors,” he added. The Prime Minister, on behalf of the Council, extended his condolences once again to the families of martyr Peshraw Dizayee and all the victims of the attack and oppression targeting the people of the Kurdistan Region. Later, the acting Minister of Natural Resources, Kamal Mohammed, presented the latest updates on the negotiations with Baghdad regarding the budget, salaries, production costs, and oil belonging to the Kurds. The members of the KRG negotiating delegation and relevant ministers stressed that Erbil has fulfilled its obligations. The delegation had submitted a draft amendment to the federal budget law to remove obstacles currently preventing the remittance of the KRG's financial entitlements, particularly the salaries of its “civil servants,” a term used to denote government employees. However, despite the Federal Council of Ministers' decision to partially fund the region's salary expenditure on January 14th in the form of loans, unfortunately, the delegation lamented that 17 days have passed with no action having been taken by Baghdad. Editing by Dastan Muwaffaq |
Posted at 30/1/2024 17:17 by tankerted PC, he doesn't work in isolation tho'.IMHO it's a message flagging that existing investors in Iraq are getting shafted, new investors need to measure twice. There was a parallel " Invest in Kurdistan/Iraq" message posted recently. They want investment, they need to ensure existing investors are treated as per contract. JMV. No ships today. TT |
Posted at 25/1/2024 17:47 by habshan Confused_Gerbill yesterday - "Click bait, they share information with a zillion analytical and data mining companies."This was the article on EnergyVoice that C_G was referring to:- "Investors should stay away from E&P companies working in Kurdistan, Panmure Gordon research analyst Ashley Kelty has said." Swell2316 on LSE 20 mins ago:- "If I’m going to avoid anything, it’s recommendations from utter-manure-gordon. I took a recommendation from them many years ago and lost the whole stake. I even attended a meeting with them and their client and was told with a straight face that everything was kosher so I bit lip and 3 months later they had bailed out and the company folded. If I could get my hands round that chinless wonder’s throat…..there So while the pi's were buying, they were bailing. And they'll also do the opposite of course. They'll post a "Research Analysts" report telling private investors that something should be avoided, meanwhile they're sweepng up all the shares that they've caused the pi's to bail out of. Beware "Research Analysts". Woody Allen - “A stockbroker is someone who invests other people’s money until it's all gone.” |
Posted at 03/1/2024 15:45 by habshan justiceforthemany - "1 million a day payable to Turkey by Baghdad each day the pipeline remains offline."Talking about justice for the many. In my opinion, once the IOCs have secured their legal rights in a cast iron agreement and the oil is flowing again both they and Turkey should head straight to the International Court of Arbitration to seek redress for the immense harm that they've suffered at the hands of the Iraqi Government through no fault of their own over the last almost two decades. If it hadn't been for the shenanigans of politicians in Baghdad who through arrogance and ignorance thought they could ride roughshod over international law and the Iraqi constitution GKP would have been producing 100kbpd ten years ago, there would have been no restructuring, we'd have been receiving regular dividends and it would all look very different. Under international law the PSCs are and always have been legal and under international law we are entitled to redress, both the IOCs and we their investors are entitled to appropriate compensation. It galls me to think that once the oil is flowing again the ICG could be allowed to just walk away from the mess they created put it all behind them and carry on regardless as though nothing had happened. International Arbitrator Jeffrey Sullivan KC who sits on the London Court of International Arbitration:- Question (Rudaw) - What are the legal avenues that an IOC may use to seek redress for harm they may suffer? Answer - "There are two avenues. One is investment arbitration, Iraq has entered into international treaties with 3rd countries that provide protection for foreign investors and those investors have the right to seek redress in international arbitration. The second is that there are contractual relationships with the KRG which tend to be governed by English law and the Federal Government could also be held liable under those contracts." Question (Rudaw) - Would the ruling by the Supreme Court itself be considered a violation? Answer - "There is the potential for a violation if the contracts were not honoured. Under the investment treaties there's a very good chance they've already violated those investment treaties because the decision of the court itself interferes with the investors investments so if we're looking at redress under investment treaties there's the possibility that the Government of Iraq has itself violated those treaties through the decision of the Supreme Court." |
Posted at 17/11/2023 13:21 by habshan The ICG/SOMO are in a tough spot of their own making, a mountain of face saving required.Ttiao yesterday - "Iraq has become a member of the European Bank for Reconstruction and Development (EBRD). It means, Iraq can apply for the Bank's finance and policy support to develop Iraq's economy further, above all the private sector." The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. With the biggest single shareholder being the United States the EBRD is owned by 71 countries and two European Union institutions. Having just become the 74th member of this institution so that they can access investment to build Iraq's economy "above all the private sector" I find it hard to imagine that even the ICG will as their first act after joining, demonstrate they are unwilling to honour legally binding internationally recognised contracts and are prepared to ignore and violate every international treaty they have signed that exist to protect international investors and their investments thereby causing APIKUR to drag them through international courts for years fighting a case that both the ICG and the international investment community know the ICG would lose. Rudaw interview with international arbitrator Jeffrey Sullivan KC who sits on the London Court of International Arbitration:- Question (Rudaw) - What are the legal avenues that an IOC may use to seek redress for harm they may suffer? Answer - "There are two avenues. One is investment arbitration, Iraq has entered into international treaties with 3rd countries that provide protection for foreign investors and those investors have the right to seek redress in international arbitration. The second is that there are contractual relationships with the KRG which tend to be governed by English law and the Federal Government could also be held liable under those contracts." Question (Rudaw) - Would the ruling by the Supreme Court itself be considered a violation? Answer - "There is the potential for a violation if the contracts were not honoured. Under the investment treaties there's a very good chance they've already violated those investment treaties because the decision of the court itself interferes with the investors investments so if we're looking at redress under investment treaties there's the possibility that the Government of Iraq has itself violated those treaties through the decision of the Supreme Court." Question (Rudaw) - Is it possible that an International Court or any other International Institution can legally have the right to make any ruling about a ruling from the Supreme Court of a country. "One of the main purposes of the international investment treaty regime is to protect investors from unreasonable and arbitrary decisions from domestic courts. So investment treaty tribunals very often review decisions by the highest courts of countries to determine if those decisions violate the other obligations that those countries have entered into under those investment treaties, so absolutely tribunals have the ability to review those decisions". And as Shuan Zulal, Managing Director at Carduchi-Kurdistan oil & gas. A Research Associate at the European Centre for Energy and Resource Security (EUCERS), Kings College London said only a few days ago:- "The companies can file a complaint and the court will probably decide in favor of the companies. The Iraqi government does not put pressure on the companies because it knows it will be harmful and that if the companies take the complaint to court that will not be in the interest of Iraq." |
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