Gulf Keystone Petroleum Share Discussion Threads

[highlander7] 07/7/2022 10:25

Malcy.....

Oil price

Oil has taken a tumble in the last couple of days as worldwide recessionary fears take their toll and as I mentioned yesterday the US bond inversion spooked markets. With the IMF saying that the outlook for the Global economy had ‘darkened significantly’ the dollar rose again and is now causing grief around the world.

These recessionary fears have led to hedge funds unwinding their positions which were based on the high oil price being an inflation hedge and accordingly the open interest in WTI is the lowest since May 2016.

However this is likely a short term thing, product markets remain tight, demand is strong despite warnings, still +2m b/d increase and stocks are low. The API stats were mixed, crude built 3.8m which is still obfuscated by SPR releases but gasoline drew 1.8m barrels and distillates drew 635/- b’s.

Interestingly Shell in today’s 2Q update have increased their Brent expectations and released $4.5bn worth of write downs already made. This was better than expected and so were the refining margins which are somewhat acceptable…

[pensioner2] 07/7/2022 10:19

Yep, looks like the kiddie just got the keys to the sweet shop.

[pensioner2] 07/7/2022 10:18

Could BR sell direct to Sinopec and then put the trade through the market after it completed? If that's possible then they could engineer a drop like the last month with no consequences.

[thebabe] 07/7/2022 10:16

Slavvering

[highlander7] 07/7/2022 10:14

BOJO just resigned.

Where will that leave Zahawi ?

H7

[thebabe] 07/7/2022 09:57

They could have sold them /promised them to SINOPEC.....They are always on both sides of big M+A

[johnbuysghost] 07/7/2022 09:49

China is coming for GKP.

Get ready!!

[thebabe] 07/7/2022 09:42

Ashti Hawrami [25] had Adnan Samarrai, country manager of Gulf Keystone Petroleum working in Kirkuk all the way to the Turkish border from 2005 until 2007 preparing the PSC areas. Nadhim Zahawi made $370k on top of his salary as an MP while investors lost [26]. GKP is referred to in the High Court Judgment of 2013 concerning Gulf Keystone, Case No: 2010 Folio 1517 involving Excalibur Ventures LLC. Over a PSC with the KRG.Zahawi who was very close to Ashti Hawrami, reportedly transferred the convertible debt bonds from Gulf Keystone to Chinese state-owned Sinopec in part – but not all – and it can have made him some $75 million. 

[thebabe] 07/7/2022 09:39

He "allegedly" transferred some of the convertible bonds to SINOPEC.

[fairenough11] 07/7/2022 09:33

OAP,
Well, they hold Sinopec as well,so if they are playing both sides they would indeed be buying them back quickly.They are not daft,peeps who bought at £3+ will have been forced out so they were an easy target for them,thus the large fall imo.Let's see what happens.

[fairenough11] 07/7/2022 09:06

He's a snake-oil salesman.Trousered cash for doing nothing while shareholders faced wipeout.but we have recovered,but he's still a snake-oil salesman.
Pre bought next Divi.
I presume it's Blackrock who have been selling while they are under notification level.
One hell of a drop considering the incredible fundamentals here.It points to corporate action and soon imo.

[johnbuysghost] 07/7/2022 08:58

Zahawi is a shady b4stard imo.

[eddie47] 07/7/2022 08:57

It is being alleged on Sky News that Nadhim Zahawi threatened to resign last night if Johnson didn't give him the job of Chancellor. That is called blackmail. So what exactly was he doing at Gulfkeystone and why and how was he appointed.

[thebabe] 07/7/2022 08:48

It's 9.5 p incoming already then 19.5p more next Thursday.So that's 29p , so that makes quite an attraction.So I've put it all in.I still expecting corporate news by end next week.

[johnbuysghost] 07/7/2022 08:48

SP rocketing!!

[shortsqueezer] 07/7/2022 08:46

Around 230 but yes, I've also prebought my divi top up this morning

[beernut] 07/7/2022 08:41

US announces new sanctions related to Iranian oil, threatens more pressure
World
US sanctions
Iranian oil
2022-07-06 20:06
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A
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Shafaq News/ The Treasury Department issued new sanctions on Wednesday related to Iran’s oil sector, a move announced after the latest round of talks to revive the 2015 nuclear deal was dubbed a “wasted occasion” by US Special Envoy for Iran Rob Malley.

The Treasury Department said that the sanctioned network of people and entities used a web of Gulf-based front companies to facilitate the “delivery and sale of hundreds of millions of dollars’ worth of Iranian petroleum and petrochemical products from Iranian companies to East Asia.”

Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said the US was committed to reaching a nuclear deal with Iran despite the sanctions. But, he added: “We will continue to use all our authorities to enforce sanctions on the sale of Iranian petroleum and petrochemicals.̶1;

Among those designated in Wednesday’s move was Iran-based Jam Petrochemical Company, which the Treasury accused of exporting petrochemical products worth hundreds of millions of dollars to companies throughout East Asia, many of which the Treasury said were sold to Iran Petrochemical Commercial Company for shipment to China.

Secretary of State Antony Blinken also spoke on the designated individuals and entities that have “supported Iranian energy trade generating millions of dollars worth of illicit revenue.”

Blinken also said that the US had been “sincere and steadfast” in trying to reach a deal with Iran that would see both sides come back into full compliance with the 2015 nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA).

But he blamed Iran for failing to reciprocate that seriousness. “Absent a change in course from Iran, we will continue to use our sanctions authorities to target exports of petroleum, petroleum products, and petrochemical products from Iran.”

[thebabe] 07/7/2022 08:36

Currently around 220 to buy net of next 19.4 p div.i have now spent both July divs in advance.That's it . Utterly completely full to bursting.I reckon news Before end of next week.

[ptmorris1] 07/7/2022 08:17

@Yogi, Yeah the Euro is falling as well due to oil situation over Ukraine.
hxxps://markets.businessinsider.com/news/currencies/euro-dollar-currency-exchange-rate-central-bank-inflation-recession-2022-7

[luckyclicker] 07/7/2022 08:13

Quite a few 10000 block buys going through this morning

[highlander7] 07/7/2022 07:52

Because the Euro is already low.