Gulf Keystone Petroleum Share Discussion Threads

[hearts1] 05/10/2016 20:20

They've tried to set up a moderated thread a few times, but after a few days they find that trying to ' talk up ' amongst themselves doesn't carry much appeal. It's much better to respond to a ' troll ' and create a gang warfare situation than face the reality of their investment.

[nestoframpers] 05/10/2016 20:10

Who reckons this is where GKPs production cash went ?

[nestoframpers] 05/10/2016 20:06

It's a good read here is the rest of it



The issue of transportation of Kurdish oil through Turkish territory generated a diplomatic rift with Baghdad, which accused Ankara of breaching relevant articles of Iraq's constitution that regulate the oil trade, including redistribution of oil income through the central government and selling oil to third parties after obtaining permission from Baghdad.

Baghdad's warnings went unheeded as Ankara inked a lucrative deal with the Kurdish administration, constructing new oil pipelines in an attempt to increase the daily oil flow from northern Iraq. For Baghdad, it was a clear violation of its sovereignty and constitution, and the move would encourage separatist feeling in Arbil. For Erdoğan's government, however, it was just a business deal.
After he meticulously worked on details to build a coherent account in his book, Tanış reveals an underreported aspect of the story, in which Erdoğan appears as a central actor behind the oil deal. In his book, Tanış claims that it was Erdoğan's son-in-law who was in charge of the Turkish company that controversially won the tender to distribute the Kurdish oil. Tanış painstakingly untangles the complicated web of relations and affairs that obscure the real ownership of the company, Powertrans, and argues that Berat Albayrak, who is married to Erdoğan's daughter, Esra Albayrak, runs the operations of the firm that was granted the distribution rights for the Kurdish oil.

The company managed its operations by setting up new sub-companies abroad. Grand Fortune Ventures and Lucky Ventures are two companies that sprang into existence in Singapore. The companies own Powertrans. Albayrak at age 26 became CEO of the Çalık Business Group, owned by the Çalık family, which is close to Erdoğan. His lightning ascent to the pinnacle of power in the business world, Tanış argues, owes much to Erdoğan, who became personally involved in high-profile tenders and business deals to grant favorable shares to his family network.

Albayrak ran Powertrans' oil operations while he was CEO of the Çalık Business Group. The company has so far earned nearly $700 million from its financial operations in Turkey. The book points to an emerging pattern suggesting that dozens of companies have recently sprung up after getting approval from the Cabinet, whose functions have been reduced to clear the way for establishing new firms in a short time. Patronage lay at the heart of this pattern, revealing politicians' close connections to the business world, the journalist asserts in his book.

Tanış's detailed account also reveals the network of business relations between the Erdoğan and KRG President Massoud Barzani's family and other relatives, which helped overcome political disputes that once threatened to end in open confrontation between Turkey and the KRG in the 2000s. What opened the way for blossoming economic ties, the book claims, was the US-sponsored detente between Turkey and the KRG in 2007, leading to the establishment of the Turkish Consulate in Arbil in 2010. Erdoğan's visit to the Kurdish region further cemented flourishing diplomatic ties, forging a new alliance between Arbil and Ankara to the envy of the central government in Baghdad.

[oil_investor] 05/10/2016 20:03

GKPhero: and the trolls are all aboard, many more of them live next door...

[gkphero] 05/10/2016 20:02

No.......don't thank me.

[gkphero] 05/10/2016 19:58

tess wants paid too.

Ben demanded a post and that's what we got at 19.57.

[tess_tickle] 05/10/2016 19:57

2⃣️3419;️,㈸1;😱😱,😱😱😱,😱😱😱 shares

S😍😍N

[ccr1958] 05/10/2016 19:55

PoO...oo... Boooooooooooooooom !!!

[gkphero] 05/10/2016 19:47

Brent rocketing and GKP a screaming buy.

[lardner23] 05/10/2016 19:35

I'm here to discuss GKP, past and present, and the Kurdistan oil sector. The GKP story is fascinating, as are the pysches of many bb contributors.

Also here to occasionally point things out that people may like to research further (BER, anyone?).

And also for the enormous entertainment value provided.

If everything in the garden were rosy, there'd be little to talk about, but then again I guess the fun side of this board would also fall away.

How about you? Do you like to see both sides of the story or just read the Sunshine Gazette?

[shaftdrive1] 05/10/2016 19:23

Deloitte signs contract with krg?!.....'ang on,I'll make sure the 'laundry' is up and running! Pricele$$!....this films gonna get me a mefta !..arf

[roverite12] 05/10/2016 19:21

No point you being here then , Lard , if it's a hopeless case .

....er ....why are you here by the way ?

[lardner23] 05/10/2016 19:09

Lol, tt.

If rogues are determined and smart enough, I guess it's a tough job for any auditor.

Madoff, Enron, WorldCom, BCCI, FreddieMac, Cattles...the list of audit failures is endless, and that's only what's known.

It reminds me of the ratings agencies accepting what they were told about the sub-prime garbage to give it a triple A.

No one should base any investment decision on an audit of the KRG, IMO.

[roverite12] 05/10/2016 19:03

KRG signs contract with Deloitte.

More details on independent auditing (courtesy of choc chip cookie on iii)

hxxp://www.nrttv.com/EN/Details.aspx?Jimare=10296.


KRG SIGNS CONTRACT WITH DELOITTE AUDITING FIRM FOR TRANSPARENCY IN OIL REVENUE
47 mins ago
Views 471


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SULAIMANI — The Kurdistan Regional Government (KRG) signed a contract on Wednesday (October 5) with international auditing firm Deloitte to help the region in transparent assessments of revenue generated by the sale of oil.

A signing ceremony was held in Erbil with the participation of KRG Prime Minister Nechirvan Barzani, KRG Deputy Prime Minister Qubad Talabani and a number of Kurdish ministers to finalize the contract which would cover energy production and marketing in the audit.

The auditing firm is expected to launch a website for international oil companies in the region and the KRG’s Ministry of Natural Resources to release their data on oil inventory.

Deloitte is an international auditing firm based in New York City in the United States and will help the Kurdistan Region’s Ministry of Natural Resources by providing auditing and consulting.

KRG Spokesman Safin Dizayee said, “The company will independently audit the process of extraction, marketing and the revenue of oil and it will release its reports monthly.”

A government website reported KRG officials selected two firms to audit the region’s revenue from natural resources, Dizayee said.

Lawmakers and political figures have previously criticized and accused the KRG over a lack of transparency on oil exports and revenue.

Members of Kurdistan Parliament have claimed millions of dollars have gone missing from the region. The region’s Ministry of Natural Resources has denied those accusations and said they are unfounded.

[1712notout] 05/10/2016 18:42

Boom
Huge buy
👍😊😱😯8561;😇Ԁ77;😊💪;💪

[tess_tickle] 05/10/2016 18:29

Lardner23,

Thought i might spot ETAMIC, but .........not yet.

But there are others involved who .........

[ccr1958] 05/10/2016 18:18

PoO.....oo.....booooooooooooooooom !!!!

[joseki] 05/10/2016 18:17

If you heeded big dog though, wouldn't you have protected yourself from dilution and the drop to 2p? What was he conning you from? You own incurred losses?

Well aren't Team Bob a bunch of bright sparks? :)

[lardner23] 05/10/2016 18:13

WR, from what little I know of auditing, I'd say Deloittes are taking on an impossible task in terms of giving an opinion on an entire state oil industry in that part of the world with a good degree of confidence. But they will take the fees and load their report with the usual caveats.

I'd say it's a superficial box ticking exercise, to please Baghdad and the IMF.

[1712notout] 05/10/2016 18:11

Big dog is a con man

Obvious