Gulf Keystone Petroleum Share Discussion Threads

[nobull] 03/2/2022 08:22

And what about the accounting rules on contingent liabilities?

[nobull] 03/2/2022 08:19

"Bermuda registered companies are not bound by listing rules, certainly not in OFF market transactions." But it does comply with the listing rules. It did in the last buyback. It complied with Rule 12.4.6.

[mr_todd_f_kozel] 03/2/2022 08:15

BERENBERG RAISES GULF KEYSTONE PRICE TARGET TO 300 (280) PENCE - 'BUY

[mr_todd_f_kozel] 03/2/2022 08:14

Bermuda registered companies are not bound by listing rules, certainly not in OFF market transactions.There is no reason at all why the company could not agree with a third party to purchase a lump of stock from them, at a future date and agreed price.And there could be several third parties.All they needed was their own shareholders to agree to such transactions , and they got that agreement via resolution to amend bye laws in June 2019......................................................................................They gave themselves authority in June 2019 to buy their own stock , “on any terms the board saw fitâ€?The most obvious value accretive strategy they could use given the obvious huge value of the company at TO.Of course not requiring any new resolution ie shareholder mandate , or need to inform the market, when/how , made it the cheapest way to acquire as much stock as possible as cheaply as possible over a long period.

[mr_todd_f_kozel] 03/2/2022 08:14

https://twitter.com/chicagojack5/status/1488880975006375936?s=21

[mr_todd_f_kozel] 03/2/2022 08:13

Actually beginning to wonder if NOBULL is a paid basher or just incredibly thick...One thing's for sure ",he doth protest too much "LOLOLDon't think he's thick , well obvs not brightest, but clearly paid to talk this down

[mr_todd_f_kozel] 03/2/2022 07:43

https://twitter.com/chicagojack5/status/1488880975006375936?s=21

[beernut] 03/2/2022 06:13

Iraq presidential vote next Tuesday

Parliament has completed the preparations for the presidential election, Deputy Parliament Speaker says
Iraq News
Shakhwan Abdullah
2022-02-02 16:15
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Shafaq News/ The Deputy Speaker of the Iraqi Parliament, Shakhwan Abdullah, said that the preparations for the election of a new president on the February 8th session have been completed.

Abdullah remarks came upon receiving the Deputy Head of Mission at the British Embassy in Iraq, Adam Sambrook, in his bureau in the Iraqi capital, Baghdad, earlier today, Wednesday.

According to a readout issued by his bureau, Abdullah discussed with his guest updates on the political situation in Iraq and ways to develop the ties between Iraq and the United Kingdom.

"The Council of Representatives has completed the technical and administrative preparations for the election of the president in the parliament session scheduled on February 8th," the Iraqi lawmaker said, "talks are underway between the political and national forces to address the impasse and ensure the participation of all parties in the political process."

[beernut] 03/2/2022 06:07

China pours money into Iraq as US retreats from Middle East
Economy
China
Economic Relations
2022-02-02 16:52
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Shafaq News/ Iraq has become one of the biggest beneficiaries of Xi Jinping’s Belt and Road Initiative as China deepens its economic ties across the Middle East through billion-dollar construction and energy contracts.

Beijing struck $10.5bn in new construction deals in Iraq last year, part of a “strong shift” in its engagement towards the Middle East despite a broader downturn in Chinese outbound investment.

The findings were revealed in a report published on Wednesday by the Green Finance & Development Center at Fudan University in Shanghai and reviewed by the Financial Times.

Beijing’s efforts to foster deeper economic ties with Iraq, Opec’s second-largest oil producer, coincides with a growing perception among Arab leaders that the US is disengaging from the Middle East.

The researchers noted that the Chinese Ministry of Commerce’s five-year plan to 2025 promised investment overseas, including non-BRI projects, of $550bn, down 25 per cent from $740bn in 2016-2021.

But in Middle Eastern and Arab countries, the level of construction investments and contracts rose 360 per cent and 116 per cent, respectively, mostly in energy and transport infrastructure.

Christoph Nedopil Wang, director of the Green Finance & Development Center, said the researchers were “surprisedR21; by the extent of China’s engagement with Middle East and Arab states.

“We believed that the focus would be much more on south-east Asia, including infrastructure,̶1; he said. “But actually it was particularly driven by Iraq . . . and a strong shift towards Africa and Middle Eastern countries.”

China has cemented its position in the region in the same year that President Joe Biden formally ended the US combat mission in Iraq and the Taliban retook control of Afghanistan after the chaotic exit of coalition forces.

The US retains about 2,500 troops in Iraq, where they have been integral to fighting Isis militants, but they have transitioned to a training and advisory role.

While Beijing relies on the Middle East for most of its energy imports, Arab states are expanding the relationship, tapping into Chinese technology and extending trade relations with the world’s second-biggest economy.

Ties between Beijing and Baghdad strengthened under Adel Abdul Mahdi, the former Iraqi prime minister, who in 2019 described Sino-Iraqi relations as poised for a “quantum leap”.

Iraq is already the third-biggest exporter of oil to China, but officials in Baghdad have been keen to secure Chinese investment to help upgrade decaying infrastructure. Many western companies have been reluctant to invest in the country, which is still blighted by political instability and sporadic bouts of violence, outside the oil and gas sectors.

New deals signed between Chinese and Iraqi groups include the big Al-Khairat heavy oil power plant in Karbala province, rebuilding the international airport in Nasiriyah and developing the Mansuriya gasfield near the Iran border.

In December, Iraq signed an agreement with Chinese companies Power Construction Corporation of China and Sinotech to build 1,000 schools, which will be paid for through oil products.

Kirk Sowell, publisher of Inside Iraqi Politics, a newsletter, said that while Iraq had been seeking to increase ties with China in recent years “it’s not like Iraq is becoming an economic colony of China”. He added: “The concern among Iraqi critics of the China agreements is how much of Iraq’s oil is being mortgaged off to pay for Chinese investment, and that’s a question we don’t know the answer to.”

Xi launched the BRI in 2013 but after years of rapid growth, the pace of lending on the initiative has recently slowed.

There was a total of $59.5bn in Chinese finance investments and contractual co-operation across the 144 BRI countries in 2021 — down from $60.5bn in 2020, according to the Green Finance & Development Center report. Contract values reached $45.6bn — up from $37bn, as investments shrank to $13.9bn from $23.4bn.

Total BRI engagement remains down about 48 per cent from pre-pandemic levels. Fudan University researchers did not expect the BRI to return to the heights of the late 2010s, owing to closer scrutiny of deals in many foreign capitals as well as tighter controls in Beijing over outbound investment.

According to the report, no new coal projects received financing or investments in 2021, while green energy deals increased slightly to a record $6.3bn. That also reflected a preference for smaller and more sustainable projects, the researchers said.

The latest BRI data came amid renewed international debate over whether China was pushing developing countries into so-called debt traps, under which Beijing could seize assets when it is owed money.

Anxiety over China’s rising international dominance has prompted the US and EU over the past year to try to counter the BRI with new international development finance efforts.

Source

[beernut] 03/2/2022 06:05

Kurdistan’s President meets with Erdogan, stresses to strengthen the relations between Erbil and Ankara
Kurdistan
Erdogan
Nechirvan Barzani
2022-02-02 18:22
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Shafaq News/ On Wednesday, the Kurdish President Nechirvan Barzani arrived in Ankara and met with Turkey’s President, Recep Tayyip Erdogan.

According to the Kurdish Presidency, the meeting focused on bilateral relations of Turkey with Iraq and the Kurdistan Region, reaffirming the mutual willingness to strengthen further the essential commercial and economic ties between the two sides.

Discussions also highlighted other areas of joint partnership, the political status in Iraq, and the latest regional developments.

[highlander7] 03/2/2022 05:55

ProActive ...


Neither rocket scientists nor quantum mathematicians aren’t needed in the analysis of the oil sector.

ExxonMobil last night reported its highest profit since 2014 (the last time oil prices were as high as they are today) and it is very likely Shell PLC's (LSE:SHEL, NYSE:SHEL, EURONEXT:SHELL) numbers will be similar.

As Brent crude today trades above US$90 per barrel its impossible to look past revenue and profit numbers from oil sales, even if the company’s preferred corporate narrative is more focussed on energy transition.

Shell will appear as a company transformed on Thursday, according to Allegra Dawes, senior analyst at Third Bridge, but, bigger changes could come in the future.

“Surging energy prices and a series of divestitures have left the company flush with cash,” Dawes said.

"The dilemma facing Shell is similar to its peers: how to manage the energy transition when the world’s energy needs are growing today.

“Third Bridge experts see the merits in splitting the company to meet targeted greenhouse gas emissions goals. However, the cost of investing in renewable energy may be prohibitive as a company that is independent of the legacy oil & gas business.”

Shell’s management team face critical investment and capital allocation decisions, she added,

“Shareholder activism has emerged as a key theme in the major integrated oil space, and Shell finds itself front-and-centre in the debate.

“In several aspects renewable energy has disappointed over the past year, but at the same time demand for fossil fuels has increased, driving energy prices higher as the world recovers from the pandemic. The timing over which the energy transition occurs is still uncertain.

[highlander7] 03/2/2022 05:53

Bloomberg..


Oil Supply Fears

OPEC and its allies agreed to revive more halted oil production, yet struggles to fulfill supply pledges left markets fearful of a potential shortfall. Oil held near a fresh seven-year high. The group and its allies said they will lift output by 400,000 barrels a day in March, maintaining the modest pace of restoring supply shuttered at the height of the pandemic. Still, there’s concern some members can’t meet their production targets, adding to a sense of tightness in the oil market.

[highlander7] 03/2/2022 05:12

Malcy.....

Oil price- Swing baby swing…

Its Groundhog Day so expect worries about hibernation but over at the Opec+ meeting it might be slightly tricky. I know that it is always tricky one way and another especially in the bigger group but this time it is almost an embarrassment of riches, $90 oil is perfect.

So roll over and do it again to paraphrase the song, let the 400/- b/d rise under the production agreement go through in the full knowledge that the members can’t do that much. If the price rises towards $100 by next month that will be time for my favourite Opec action, the KSA stepping in as swing producer as the only one (with a little help from Kuwait, Iraq and the UAE) able to must enough oil to bring down the price otherwise at that level demand will disappear like snow flakes in the spring.

There is a fly in the ointment of course, it’s Opec+ you would expect that. What if Russia invades The Ukraine and triggers sanctions from the US, Europe and others? Not just oil suffers (Russia exports an interesting amount of oil to the US) but presumably currency and banking would be hit à la Iran so that sweet equation goes west, or east or….never mind!

Back in the real world I couldn’t help noticing that Exxon are finally moving to Houston with its management leaving the ‘God Pod’ in Irving to join the Spring campus. It comes with a reorganisation of the business into three divisions.

[releasethekraken] 02/2/2022 20:40

Bid incoming

[releasethekraken] 02/2/2022 20:13

Bermuda registered companies are not bound by listing rules, certainly not in OFF market transactions.There is no reason at all why the company could not agree with a third party to purchase a lump of stock from them, at a future date and agreed price.And there could be several third parties.All they needed was their own shareholders to agree to such transactions , and they got that agreement via resolution to amend bye laws in June 2019......................................................................................They gave themselves authority in June 2019 to buy their own stock , “on any terms the board saw fitâ€?The most obvious value accretive strategy they could use given the obvious huge value of the company at TO.Of course not requiring any new resolution ie shareholder mandate , or need to inform the market, when/how , made it the cheapest way to acquire as much stock as possible as cheaply as possible over a long period.

[releasethekraken] 02/2/2022 20:12

BERENBERG RAISES GULF KEYSTONE PRICE TARGET TO 300 (280) PENCE - 'BUY

[releasethekraken] 02/2/2022 20:11

https://twitter.com/chicagojack5/status/1488880975006375936?s=21

[releasethekraken] 02/2/2022 20:11

US Condog , it's breakfast time on East coast...The BIGGEST BUY SIGNAL on the planet.#27,359 BASHING posts.LOL

[bigdog5] 02/2/2022 20:02

There is no proxy and buying of shares "under the radar".

No one is interested. If the field was considered worthwhile it would have been bought years ago. It could have been taken at the time of the restructure for a pittance. DNO walked away after offering way less than £1ps. Reserves are falling by the minute. Just a look at the latest CPR confirms. Water found at S12 means the Reserves will need another reduction. All the latest wells have failed either in part or completely. No 55k a day that's been coming since 2015.

The Ratner of the oil world?