 Similar to Kevs post
Iraq signs $2 billion deal for Kirkuk oil refinery
Iraqi judiciary confirms oil contracts legality, Kurdistan Region declares
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Iraqi judiciary confirms oil contracts legality, Kurdistan Region declares
2025-01-30 21:13
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Shafaq News/ The Ministry of Natural Resources in the Kurdistan Region announced, on Thursday, that the Iraqi Court of Cassation issued a ruling confirming the legality of contracts between the region and oil companies.
"The Karkh Court, after several judicial sessions and a review of previous rulings, decided to reverse its prior decisions that had favored the Iraqi Ministry of Oil against the Kurdistan Region’s oil policy” the ministry said in a statement.
Criticizing the Federal Ministry of Oil, of “attempting once again to challenge the rulings in its favor”, the statement welcomed the final ruling noting that “the Iraqi Court of Cassation reinforced the legal standing of the oil contracts signed by the Kurdistan Region with operating oil and gas companies."
The ministry emphasized that this decision affirms the validity of the procedures followed by the region in signing agreements with foreign companies.
This ruling comes amid the ongoing dispute between the Iraqi government and the Kurdistan Region over the management of oil resources. The region asserts its right to independently regulate the oil and gas sector according to the Iraqi constitution, while Baghdad seeks to exert full control over the sector.
The oil and gas issue remains one of the most sensitive topics between Baghdad and Erbil, with recent years seeing a legal and political escalation regarding the legitimacy of the contracts signed by the region with foreign companies.
In 2022, the Iraqi Federal Supreme Court ruled that the Kurdistan Region's oil and gas law was unconstitutional, prompting the central government to attempt to assert control over the sector.
Despite this, the region continues to defend its position, citing its interpretation of the Iraqi constitution, which grants it extensive powers to manage its natural resources. |
Needs to break the 172 double top ,then we should be on our wayPJ |
Fortunately the company will announce the most obvious incoming takeover in history long before then... |
I doubt anything would be sorted this weekend. My bet is waiting for September |
170.8 on bid |
We should have an RNS shortly rgds CEO stay bonus.They need to have bought in around 75,000 -80,000 more shares to complete the bonus.I suspect also the company may start up the buyback program soon, |
Correct. In any case it will take weeks/months to compile a new PSC or modify the existing one. We dont need to know until then. |
You don't have to know the details at this stage.If Apikur(IOCS)are happy I'm happy in the knowledge that the contracts right now are legal therefore terms that are worse will not be tolerated/accepted.No speculation needed. |
Just for the record , the new terms and conditions will be formalised in a new PSC/TSC (or what ever) that will be made available to investors . It would be a tactical error / naive of APIKUR's to put these details in the public domain until they are confirmed in writing and signed off and while negotiations are still ongoing. |
Morning Habs. Fair comment. I'm sure the relevant parties will have all been made aware of it. Looks like a good day ahead ! |
Morning ss, I doubt if APIKUR will want to comment on that until the vote has been passed the negotiations complete and the pipeline reopened, they've probably decided that in the meantime it's best just left hanging where everybody knows it's there but nobody wants to talk about it.
But it's an important card that's for sure. Even if it isn't true the ICG know it's coming and importantly there's been no denial. |
All wonderful news which I missed due to an early night. KRG have such a strong hand now I wonder if we will hear any more talk of suing ICG for compensation. |
Kev – "Republican congress member Joe Wilson, stated on Thursday that Iraq’s Supreme Court is unconstitutional and has become an Iranian regime tool.
“Iraq’s Supreme Court is unconstitutional and has become an Iranian regime tool. Chief Justice Jassim Abboud Ameri is Iranian and Badr Corps puppet,” Wilson posted on his personal X account."
This guy Wilson has got the bit between his teeth and Iran firmly in his sights.
1waving - "Now we know that senior US politicians with clout are going to be making things happen in Iraq..
Wilson is a senior member of the House Foreign Affairs Committee, serving as Chair of the Middle East, North Africa, and Central Asia Subcommittee and a member of the Europe Subcommittee. He is also the most senior member of the House Armed Services Committee, where he sits on the Readiness and Strategic Forces Subcommittees."
BasNews - US Congressman Urges Sanctions on Iraq’s Largest Bank Over Alleged Iran Ties.
ERBIL — US Congressman Joe Wilson on Thursday called for punitive measures against Iraq’s Rafidain Bank, accusing it of facilitating financial transactions for Iran’s regime.
In a post on X, Wilson stated, “During the Biden administration and Brett McGurk’s tenure, the US Treasury and Federal Reserve have allowed Iraq’s Rafidain Bank, the country’s largest financial institution, to become a vehicle for laundering money to Iran and its assets to obtain US dollars.” He further urged, “This bank must face severe sanctions. President Trump will correct this mistake.” |
Just got in from my night shift, so that's a no from me. What subject was being discussed? |
Is anyone watching Hardtalk??? |
OK so do the Kurds go for it on Sunday ? I guess it depends on how much has been hammered out behind the scenes. Personally I think they get more back than they give so Sunday will be the first big step to getting the pipeline open.
The next bridge is the IoCs. Well getting oil pumping will make all of them worth a lot more, so they will probably go for it assuming the deal is close to what they have now.
GKP wise, well they have been planning the sale for a long time without knowing who too. Getting all the ducks lined up ready for the pipeline to open and then they can go to the market in a position of strength. (I did this when I sold my company, you have to have plan for it if you want a smooth transaction). I would expect them to drive up the share price using the $10million they have allocated, but only once the share price reaches a stable market level after the oil starts flowing (£2 - £3?) So maybe start buying in March assuming things happen as quickly as I think they will, not sure how much 10 million will drive up the price, depends on liquidity. Then its what price will they settle for from one of the big boys. £20 would be my guess (an offer for 4 Billion). We shall see. Anything more is a bonus.
I have a lot of shares in this company and will not be selling any of them until we get close to the final number.
However, this is GKP and Iraq, so who knows if there is one more spanner waiting in the wings..... |
Urchin 888
105 quid for me.
Coming soon! |
#gkp #gkptakeoverPeeps getting revved up rgds pipe opening ,OKIn reality real news of a positive vote Sunday is thatKurd oil industry is finally LEGITIMISED. IOC can buy in.@Gulf_Keystoneobviously been sold STC for at least 18mths.After Sunday IOC can close deal. |
Lots of good news but what does it all mean in the real world and why would the KRG and IOCs want to sign anything with Iraq - just wait till September and they can do what they want. |
All the illegal schemes of al-Ameri, al-Maliki, the illegal "Federal Supreme Court" and the other Iranian leaning deadbeats to control and subjugate the Kurds have been blown out of the water.
And September is fast approaching, no wonder they're panicking to get in on a pipeline deal and salvage something before it's too late and they've also got BP breathing down their neck who have suddenly decided they need to start talking to the Kurds.
The Kurds will only be entertaining them now because it's in their interests to continue trying to get along, and the Turks and Americans will want to see some kind of a sensible relationship.
The Kurds are firmly in the driving seat. |
5quid a share - I retire! Fingers crossed |
https://www.rudaw.net/english/business/30012025 ERBIL, Kurdistan Region - The Kurdistan Region's natural resources ministry said on Thursday that it had won a case against the federal oil ministry over its contracts with several international oil companies. "After several court sessions and appeals by the Ministry of Natural Resources against the decisions of the Karkh Court, which were issued following the Federal Supreme Court of Iraq's decisions against Kurdistan's Oil and Gas Law, the Karkh Court, after a long period of multiple trials, ruled in favor of the Ministry of Natural Resources and reversed its previous decisions," said the Kurdish ministry in a statement. "Although the Federal Oil Ministry again appealed these decisions, the Iraqi Court of Review decided to approve the decisions of the Karkh Court of Appeals, thus legally establishing that the contracts between the Ministry of Natural Resources and oil and gas companies in the Kurdistan Region are valid and legitimate," it added. According to all documents obtained by Rudaw, the contracts are with DNO, Addax Petroleum, Dana Gas, Shamaran Petroleum, Western Zagros, Gazprom, Gulf Keystone Petroleum, HKN Energy, and Genel Energy.On February 15, 2022, the Federal Supreme Court deemed Kurdistan Region's Oil and Gas Law unconstitutional and obligated the Kurdistan Regional Government to hand over oil to the federal government and Iraq's Oil Ministry. |
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