Gulf Keystone Petroleum Share Discussion Threads

[0ili0] 16/7/2019 23:04

Blimey. That's a strong accusation.Anyway, it's World Emoji Day tomorrow. :)

[frenchybannedme] 16/7/2019 23:03

Funny how all roads seem to lead to the OilyStrawManChild.

[beernut] 16/7/2019 21:34

Kurdistan PM meets with senior Iraqi officials during trip to Baghdad
Hiwa Shilani Hiwa Shilani | 2 كات;ژم®2;ر لەم;ەو¦2;ێش
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Kurdistan PM meets with senior Iraqi officials during trip to Baghdad
Masrour Barzani, Prime Minister of the autonomous Kurdistan Region. (Photo: Archive)
Kurdistan Iraq Masrour Barzani KRG Baghdad A+AA-
ERBIL (Kurdistan 24) – The Prime Minister of the autonomous Kurdistan Region, Masrour Barzani, along with a high-level delegation, met separately with senior Iraqi officials in Baghdad on Tuesday, including his counterpart Adil Abdul Mahdi and Iraqi Parliament Speaker Mohammed al-Halbousi, to discuss progress in the relations between Erbil and Baghdad.

During his meeting with Abdul Mahdi, Prime Minister Barzani underscored the new Kurdistan Regional Government’s (KRG) readiness “to work together [in cooperation], and strengthen positive relations with the federal government to resolve all outstanding issues in accordance with the Constitution,” a statement on the Iraqi prime minister’s media office read.


For his part, the Iraqi PM extended his congratulations to Barzani on his election as new KRG prime minister, and the formation of a new government, the statement added.

Abdul Mahdi also “welcomed the atmosphere of collaboration with the KRG and the federal government to enhance integration and solve all the problems” according to the Iraqi Constitution.

Elsewhere, PM Barzani met with Iraqi Parliament Speaker Halbousi where the two discussed ways to find solutions to all the differences between the KRG and the Iraqi government, a statement on Halbousi’s press office read.

Halbousi “congratulated Barzani on the formation of a new [KRG] government, and stressed the importance of resolving all outstanding problems between the region and the federal government,” it continued.


According to the statement, Barzani underlined the Kurdistan Region’s “sincere intentions to work to clear all problems in the spirit of brotherhood and national belonging.”

Read More: Kurdistan PM, Iraqi President look to constitution to solve Erbil-Baghdad issues

Prime Minister Barzani spoke to reporters following his meeting with Halbousi and highlighted that all the sessions on Tuesday with senior Iraqi officials were positive.

“All our meetings today were based on mutual understanding of the issues at hand between Erbil and Baghdad,” the prime minister said. “We addressed our differences, and hope technical efforts will be initiated soon to address them.”

Halbousi, meanwhile, told reporters the meetings were good and that he is confident in PM Barzani’s ability to lead the autonomous Kurdish government.

This was the new KRG cabinet’s first visit to Baghdad since its formation on June 10.

[beernut] 16/7/2019 21:33

PM of Iraq's Kurdish region meets top officials in Baghdad
ByTHE ASSOCIATED PRESS
BAGHDAD — Jul 16, 2019, 12:08 PM ET
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Adel Abdel-Mahdi, Masrour BarzaniThe Associated Press
Iraqi Prime Minister Adel Abdel-Mahdi, center right, meets with the prime minister of Iraq's self-ruled Kurdish region Masrour Barzani, center left, in Baghdad, Iraq, Tuesday, July 16, 2019. Barzani, the newly confirmed prime minister of Iraq's self-ruled Kurdish region is meeting with top officials in the Iraqi capital in his first visit to Baghdad since he was named for the post last month. (Iraqi Prime Minister's Press Office via AP)more +
The newly confirmed prime minister of Iraq's self-ruled Kurdish region is meeting with top officials on his first visit to the Iraqi capital since he was named to the post last month.

Masrour Barzani met with Iraqi Prime Minister Adel Abdul-Mahdi and was later received by the Iraqi president during the visit, which was meant to convey a "goodwill message" from Barzani's new Cabinet.

The visit comes nearly two years after a vote for independence in the Kurdish region sparked a punishing backlash from Baghdad and left Kurdish leaders deeply divided.

A statement issued Tuesday said Barzani would discuss all outstanding issues between the Kurdish region and the federal government.

Barzani was sworn in last week. The new government has said it seeks a constructive and stable partnership with Baghdad.

[beernut] 16/7/2019 21:31

Kurdistan PM, Iraqi President look to constitution to solve Erbil-Baghdad issues
Sangar Ali Sangar Ali | 8 كات;ژم®2;ر لەم;ەو¦2;ێش
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Kurdistan PM, Iraqi President look to constitution to solve Erbil-Baghdad issues
Prime Minister of the autonomous Kurdistan Region Masrour Barzani (L) met with Iraqi President Barham Salih in Baghdad, July 16, 2019. (Photo: Kurdistan 24)
Kurdistan Iraq Baghdad Erbil A+AA-
ERBIL (Kurdistan 24) – The Prime Minister of the autonomous Kurdistan Region, Masrour Barzani, on Tuesday met with Iraqi President, Barham Salih, to discuss issues between Erbil and Baghdad to be resolved on the basis of the Iraqi Constitution.

Barzani, heading the Kurdistan Regional Government (KRG) delegation, highlighted the need to intensify efforts for a proper dialogue and resort to the constitution to find a common ground to improve bilateral relations, according to the press office of the Iraqi President.

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#HappeningNow: The Prime Minister of the Kurdistan Region @masrour_barzani meets with Iraqi President @BarhamSalih in Baghdad.#TwitterKurds #Iraq

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It is the first visit of the new KRG cabinet to Baghdad since its formation last Wednesday.

The two sides also discussed the political developments in the country, region, and on the international stage.

Last time the two leaders met was in Erbil on June 10 during Nechirvan Barzani’s inauguration as the President of the Kurdistan Region.


The KRG delegation includes Deputy Prime Minister, Qubad Talabani, Minister of Justice, Firsat Ahmed, Interior Minister, Rebar Ahmed, Minister of Peshmerga, Shorish Ismael, Minister of Finance and Economy, Awat Sheikh-Janab, and Chief of Staff to the Kurdistan Region Presidency, Fawzi Hariri.

Barzani also met with Prime Minister of Iraq Adil Abdul-Mahdi in Baghdad, and touched upon improving relations between the two governments and resolving outstanding issues between Erbil and Baghdad.

Editing by Nadia Riva

[beernut] 16/7/2019 21:29

Iraqi parliament says keen on solving pending issues with Kurdistan
by Mohammed Ebraheem Jul 16, 2019, 8:07 pm

Baghdad (IraqiNews.com) – Speaker of the Iraqi parliament Mohamed Halboussi has confirmed the federal legislature’s strong desire to solve all pending disputes with the Kurdistan region.


During a meeting with Kurdish President Masrour Barzani on Tuesday, Halboussi urged Kurdistan’s government to go ahead with “adopting a balanced and transparent approach to resolve all outstanding issues between the semi-autonomous region and the federal government.”

“The Iraqi parliament will provide a political and legislative cover for them (Kurdistan’s government) in accordance with the constitution,” Halboussi said.


For his part, Barzani said that his current visit to Baghdad comes just one day after his government’s formation, reflecting sincere intentions to work on solving all problems with the federal government in Baghdad in an atmosphere of brotherhood and national dialogue.

He pointed out that the Kurdistan region is “an important part of Iraq,” adding that the Kurdish people and their political forces are a key partner in the process of new democratic construction in Iraq.

[urals] 16/7/2019 18:05

Buyback update 7 days progress :794,730 cumulative VWAP £2.25 Cost to date $ 2,230,000 approx14. 87 % % cash initially committed of $15mRun rate $319 k per day

[habshan] 16/7/2019 17:11

Date of purchase

16 July 2019

Number of Ordinary Shares purchased

142,500

Highest price paid per Ordinary Share

226.000 pence

Lowest price paid per Ordinary Shares

223.000 pence

Volume weighted average price per Ordinary Share

224.186 pence

[mcfly02] 16/7/2019 17:10

Welshki/Indridcold = Robert Waterhouse = Bipolar 🤷‍a94;️

[bigdog5] 16/7/2019 15:56

Thanks Broadford that's real interesting. I would imagine it won't be long before the MNR adjust their take with the oilys with or without any oil price hikes.

So it does put a huge question mark against why the MNR would have handed 20% of shaiCON over to the company for free as believed by many here:-)

Anyway I only popped in to see how the Chinese takeaway's prediction of an imminent takeaway and the 50% buyback of the company was doing:-)

[broadford bay] 16/7/2019 12:39

bigdog,

The current GoI payment of KRG salaries is under threat - because of the KRG's refusal to pump the agreed 250Mbop from Southern fields.

These GoI remittances currently amount to around $4.5Bn p.a. and cover only about 50% of the KRG salary/wages bill of $8.8Bn (if you believe what the KRG claim). Nuri al Maliki (he's not alone in this) is agitating for these payments to be withheld, reduced or tied to fulfilling the 250Mbopd export agreement.
Peshmerga remittances from the USA continue at around the $140M- $150M p.a.

If the central government drastically reduces the salary remittances, or even stops them completely, then the KRG will be in even more hot water than it is at present - all of its spending plans go out the window, gov salaries are cut again and delays are re-introduced, and infrastructure spending, little though it currently is, dries up completely; significant or large outstanding payments to IOCs fall under that particular rubrich.

I would say that the KRG have very little, if any, leverage at this point in time. The Americans are pushing for the 250Mbopd agreement to be honoured and the oilcos are pushing for their PSCs to be honoured completely and/or modified to suit circumstances. Since no-one wants to give the Oilcos any extra cash, and now that Cashti's influence has been greatly reduced, it's going to get tougher rather than easier.

All the nice words between Mansour and Abdul-Mahdi won't change much, if anything.

The re-jigging of forward sales contracts is challenging, bearing in mind the higher-value (API) streams from Kirkuk area. A lot of the $/bbl added value would flow to the oilcos - something that the centre (and Erbil) wants to avoid.

Have a look at the state of KRG finances; it' a shockingly bad picture.

[bigdog5] 16/7/2019 10:33

Erbil do appear to have great problems sticking to agreements so it will be interesting to see how long any new one lasts? Wasn't a figure of $14b debt mentioned awhile ago? Oil traders still to be paid off for forward sold oil?

Seems very odd that the MNR would hand over, according to the Chinese takeaway Guru, their percentage of shaiCON for free when they're that much in debt and haven't provided Baghdad with 250k barrels a day ever.

[beernut] 16/7/2019 09:55

New KRG delegation to visit Baghdad, meet with senior officials
Sangar Ali Sangar Ali | 2 كات;ژم®2;ر لەم;ەو¦2;ێش
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New KRG delegation to visit Baghdad, meet with senior officials
Prime Minister of the Kurdistan Region Masrour Barzani holds a meeting with his cabinet ministers on Monday. (Photo: Kurdistan 24)
Kurdistan KRG Iraq Baghdad Erbil A+AA-
ERBIL (Kurdistan 24) – A delegation from the newly formed Kurdistan Regional Government (KRG) cabinet will visit Baghdad on Tuesday “with a goodwill message” to address longstanding issues between Erbil and Baghdad on the basis of the Constitution of Iraq, the government said in a statement.

It is the first visit of the new KRG cabinet to Baghdad headed by Prime Minister Masrour Barzani.

Kurdistan 24 has learned that the delegation includes Deputy Prime Minister, Qubad Talabani, Minister of Justice, Firsat Ahmed, Interior Minister, Rebar Ahmed, Minister of Peshmerga, Shorish Ismael, Minister of Finance and Economy, Awat Sheikh-Janab, and Chief of Staff to the Kurdistan Region Presidency, Fawzi Hariri.

The KRG delegates will meet with the Prime Minister of Iraq, Adil Abdul-Mahdi, Parliament Speaker Mohammed al-Halbousi, and President Barham Salih.

The Kurdistan Parliament last Wednesday, by a majority vote, approved the new cabinet which aims to make reforms, improve governance, and deepen ties between the Kurdistan Region and the federal government of Iraq.

[dudishes] 16/7/2019 09:41

£1.3M, now £11750? Guess who?

[mcfly02] 16/7/2019 09:34

Good Morning Robert 😃

Why are you posting as Welshki ???

I'm still up for that meet ???

[shortsqueezer] 16/7/2019 07:41

Sounds promising!

[beernut] 16/7/2019 07:24

Can KRG delegation break oil-for-budget deadlock in Baghdad?
By Zhelwan Z. Wali 22 hours ago
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Can KRG delegation break oil-for-budget deadlock in Baghdad?
Balloons in the Kurdistan Region’s national colors are released during the official opening of the Khurmala oilfield, Erbil province, July 18, 2009. File photo: AFP
ERBIL, Kurdistan Region – A delegation from the Kurdistan Regional Government (KRG) is set to visit Baghdad later this week with the aim of resolving the long-standing disagreement with the central government over the delivery of Kurdish oil in exchange for a share of the federal budget.

Under the 2019 budget agreement, approved in January 2019, the KRG was granted a 12.67 percent share of the federal budget – short of its pre-2014 share of 17 percent – on the condition it sends 250,000 barrels of oil per day to the state marketing body SOMO and deposits all revenues into the central treasury.

However, the KRG has so far failed to keep its end of the deal. As parliament prepares to discuss the 2020 budget, Iraqi lawmakers are concerned the KRG will again fail to keep its end of the bargain.

When Kurdistan Region President Nechirvan Barzani met with Baghdad officials on June 20, he said he discussed oil matters with Iraqi Prime Minister Adil Abdul-Mahdi and emphasized that an agreement should be reached that would be acceptable to both parties.

Abdul-Mahdi and Barzani agreed to form two committees to set the agenda for future talks.

“We have reached the final stages and what is left is the just a visit from a high ranking KRG delegation to Baghdad to sign a final agreement as we have already spoken on all the issues,” Shakawan Abdulla, a former Kurdistan Democratic Party (KDP) MP and negotiator in Baghdad said.

The KRG delegation is expected to consist of KRG Prime Minister Masrour Barzani, Finance Minister Awat Sheikh Janab, Peshmerga Minister Shorish Ismael, and MPs from various parties.

Iraqi lawmakers are piling pressure on Abdul-Mahdi’s government to implement the agreement, accusing him of being too soft on the KRG, which is yet to send a single barrel of oil to Baghdad in exchange of its 2019 budget share.

Iraqi MPs have even urged the government to freeze the KRG’s share of the budget until oil deliveries are secured.

The KRG has been using revenues earned through its independent oil sales to clear its debts, which piled up in recent years after Baghdad cut its share of the federal budget to zero, global oil prices crashed, and the region was struck by war and financial crisis.

“In principle, we do not have any issues with handing over the 250,000 barrels of oil per day to Baghdad,” said Barzani, but added “before it happens, agreements should be made.”

“The matter is not just that we should hand over 250,000 barrels of oil. There are also legal dimensions. There is an accumulation of loans on the KRG because of budget cuts from 2014. We have discussed these things and talked about how we can reach a deal that Baghdad and the Kurdistan Region can agree on.”

A leading member of the Patriotic Union of Kurdistan (PUK), who spoke to Rudaw on condition of anonymity, said last week: “The Americans and UN and even Europeans have pressured both sides to hold constructive and fruitful meetings [and] not just waste time.”

“Good understanding has emerged between Erbil and Baghdad in order for Erbil to hand over 250,000 barrels of oil per day and for Baghdad to continue the budget that it does now and the matter of the budget law should no longer be the center of issues.”

“The signing of the first agreement will give way to a second agreement on the subject of disputed and Kurdistani areas outside KRG and Peshmerga control,” he added.

Dana Jaza, a KDP MP in Baghdad, described the KRG visit to Baghdad as “instrumental”.

“There is a strong possibility that an agreement will be signed,” Jaza added.

The KRG began selling oil independently of Baghdad in 2013, leading then-PM Nouri al-Maliki to suspend the Region’s budget share altogether.

When Peshmerga forces took control of security in Kirkuk in 2014, the KRG also seized the province’s bountiful oilfields.

When Iraqi forces retook these oilfields in October 2017, the KRG lost around half of its oil revenues. Oil exports via the pipeline linking the Kurdistan Region to ports in Turkey were suspended for several months.

Erbil-Baghdad relations have vastly improved since Abdul-Mahdi took office, and exports have resumed. Although a smaller share than before, the Region is again receiving federal funding.

If the KRG does not show it is willing to send even a portion of the oil quota to Baghdad, the Iraqi government may again cut its budget.

Although Iraq is unlikely to use force, the events of October 2017 remain fresh in the minds of Kurdish leaders.

If criticism of Abdul-Mahdi continues, MPs may remove him from office. His predecessor Haider al-Abadi, who took a more uncompromising approach to the KRG, recently hinted he would like to return to power.

[bigdog5] 15/7/2019 23:40

GKPhero
15 Jul '19 - 08:37 - 3533 of 3541
0 14 0
"$10 billion with the curret share issue works out around £40 per share.

I will take it if I must. :)"


More evidence of johnyboy's maths. A postman for a teacher?

[bigdog5] 15/7/2019 21:28

Could they be looking in the wrong place for the misdoings?

Anyways no takeaway today, so will it be tomorrow oh Chinese guru?