Gulf Keystone Petroleum Share Discussion Threads

[habshan] 09/8/2022 14:43

"Any possible compromise will favour Baghdad massively."

No Sarah, it won't.

The Kurds don't need to compromise and will only do so if they consider it in their best interests to do so.

They have the highest law in the land the Constitution, the English High Court, the fact that the so called "Supreme Court" itself is not legitimate and the fact that Iraq has signed up to International Treaties on the protection of investors all on their side.

So both sides know that any International Court of Arbitration would come down on the side of the Kurds.

In any negotiation between the ICG and the Kurds it's the ICG that needs to do the talking.

[urchin1] 09/8/2022 14:40

Anyone know when the next scheduled dividend may be due?Thanks in anticipation of any reply's

[sbb1x] 09/8/2022 14:40

Being chased up to 242...

[bumkin] 09/8/2022 14:09

I don’t know what you are saying doggy but I wholeheartedly agree with Fardels Bear 👍🤣

[gkp_bang_gone] 09/8/2022 13:16

Good Morning across the pond Yankee Doodle Condog!
Congratulations thats #28,114 paid sentiment inhibiting posts so far.
What a body of work!
#Morgan Stanley etc haven't robbed enough stock from retail yet..........
.
He wont stop - it is his job!!!

[habshan] 09/8/2022 13:07

"The Court decision in February was the first move."

Indeed, and the court is clearly made up of idiots like you.

It's definitely not looking good is it Sarah, that's some hole the ICG have dug for themselves, having signed up to all those International Treaties to protect investors the compensation claims will be massive if the IOCs decide they're suffering harm, and who's going to want to invest in Southern Iraq when they can see that the ICG are prepared to just ignore those treaties if it thinks it suits them

"One of the main purposes of the international investment treaty regime that Iraq has signed up to is to protect investors from unreasonable and arbitrary decisions from domestic courts. So investment treaty tribunals very often review decisions by the highest courts of countries to determine if those decisions violate the other obligations that those countries have entered into under those investment treaties, so absolutely tribunals have the ability to review those decisions".

"Iraq has entered into international treaties with 3rd countries that provide protection for foreign investors and those investors have the right to seek redress in international arbitration."

"Foreign investors could hold the Iraqi federal government “liable” for contracts signed between the Kurdish government and international oil operators if contractors suffer from substantial harm as a result of a court ruling against the Kurdistan Region’s oil industry, and could trigger investment arbitration claims a senior lawyer told Rudaw last week."

[gkp_bang_gone] 09/8/2022 12:51

Good Morning across the pond Yankee Doodle Condog!
Congratulations thats #28,113 paid sentiment inhibiting posts so far.
What a body of work!
#Morgan Stanley etc haven't robbed enough stock from retail yet..........

[bigdog5] 09/8/2022 12:48

“This is an internal issue of [Iraq], and the media has exaggerated the disputes,”

Its not overexaggerated, Erbil and Baghdad are miles apart with what each wants and there is little common ground. They've been trying to resolve the problem for 15 years. Its quite clear that Erbil will have to move a long way towards what Baghdad want who have the leverage (some of which is mentioned in the OP article) to make it happen.

The Court decision in February was the first move. Then came the "blacklisting". Leverage on the oil buyers, transporters and oil traders next? Then there's the ongoing Court issue with the "smuggled oil" and Turkey's involvement.

Any possible compromise will favour Baghdad massively, the Politics in Baghdad will demand it happens notwithstanding the views from those giving legal opinions. With all their leverage will they compromise? All the oil belongs to the people of Iraq so it is said.

Just trying to help you clowns with the reality of the situation.

[fardels bear] 09/8/2022 12:35

Oh God, will he? How boring.

[nufc9] 09/8/2022 12:21

It doesn't matter about all that factual legal stuff habsham, Bigdog will be here in a minute to let us know "Baghdad are serious this time" LOL.

[habshan] 09/8/2022 12:10

"the PSC's are a Contract written under International Contract Law"

They're a lot more than that highlander.

The English High Court determined that they are contracts entered into by the KRG under powers conferred on them by the highest law in the land the Constitution ie. the Iraqi State.

As such they have Sovereign immunity and cannot be legally questioned.

In 2005 the then Iraqi government signed up to a Constitution which subsequent politicians have decided they don't like and think they can change willy nilly to suit themselves, it doesn't work like that.

From Justice Butcher:- "I do not consider that in the case of a constitutional allocation of responsibility, the fact that the government of the recognised state opposes the exercise by the separate entity of it's powers means that the separate entity is not acting "for and on behalf" of the state. The government of a recognised federal state cannot be identified with the state itself. It is not difficult to conceive of a situation where, because of a change of political complexion of the central government, its attitude to the exercise of powers by a constituent territory changes. That would not, in my view, affect the question of whether those powers were constitutionally exercised by the constituent territory for and on behalf of the state."

In other words this or any other Iraqi government or so called "Supreme Court" can huff and puff until the cows come home but nothing they can say or do will alter the fact that the Kurds signed the PSCs with the full sovereign powers and authority that Masoud Barzani negotiated for them in the Constitution in 2005.

The PSCs were entered into by the Kurds on behalf of the Iraqi State and the current politicians in Baghdad cannot now say that Masoud Barzani's opposite numbers on the other side of the table didn't really mean it.

It is what it is.

[imnotspartacus] 09/8/2022 11:53

Oil looking better

[punter26] 09/8/2022 11:49

Thanks Oilio, (yes,sorry)...Simon "Watkins"

[highlander7] 09/8/2022 11:15

Thanks Habshan thats an interesting slant on the issue. My point has always been that the PSC's are a Contract written under International Contract Law and as such are legal. XOM demonstrated this a decade ago. So I dont really understand what the ICG hope to achieve by this , other than make themselves look even more incompetent.

H7

[0ili0] 09/8/2022 11:00

Simon Jenkins at oilprice.com...you mean Simon Watkins. Does he post here? 😉

[releasethekraken] 09/8/2022 09:42

- Details of meetings or telephone calls between Mr Zahawi and Ataer Holdings, including the disclosure of any correspondence, dating back to his appointment at BEIS.- Details of meetings or telephone calls between Mr Zahawi and partners of, or employees of, Hannam & Partners, including the disclosure of any correspondence, dating back to his appointment at BEIS.- Details of meetings or telephone calls between Mr Zahawi and Ashti Hawrami, minister for natural resources of the Kurdistan Regional Government, including the disclosure of any correspondence, dating back to his appointment at BEIS.- Details of any visits by Mr Zahawi to Turkey or Iraqi Kurdistan within the past six months.- Details of any correspondent, meeting, or telephone call between Mr Zahawi and representatives of the Turkish government, dating back to his appointment at BEIS.

[releasethekraken] 09/8/2022 09:39

Hannam the architect

[shortsqueezer] 09/8/2022 09:30

And patience

[sbb1x] 09/8/2022 09:30

Oil looking sick

[fardels bear] 09/8/2022 09:22

Peeps who have an interest in dissing this to drive out peeps like us have deep pockets.

[habshan] 09/8/2022 09:11

highlander - "The ICG Courts dont have the authority and the Kurdish PSC's are legal in International Law."

London High Court Justice Sir C.J.Butcher - "In my judgement, the entry into by the KRG of the PSCs were "sovereign or public acts" or acts jure imperii."

Jure imperii - "Acts jure imperii are acts of a sovereign nature and are subject to immunity."

Sovereign immunity - "Sovereign immunity is a legal doctrine whereby a sovereign or state cannot commit a legal wrong and is immune from civil suit or criminal prosecution."

What that means is that the KRG cannot be subjected to court proceedings over their signing of the PSCs without their own consent, they're immune.

That's why they are legally able to ignore the ruling of the so called "Iraqi Supreme Court".

[punter26] 09/8/2022 09:10

'Theoryman'! ...playing his usual drumbeat on the LSE board,(referring to Simon Watkins' 'analysis' in yesterdays Oilprice.com - "All hopes Dashed"..etc)

"thought provoking stuff"...and "tea and biscuits anyone?"...etc...etc.

[fardels bear] 09/8/2022 09:10

I was hoping to pay in somewhere between one and five million today following predictions on here.