Gulf Keystone Petroleum Share Discussion Threads

[beernut1] 09/4/2024 05:43

From Lse
Article was posted yesterday

Russian companies in KRG and pipeline8 Apr 2024 23:48
What do you guys make of this? Is the bottleneck the transportation fee the Russians want? It looks Sudani talked to these russian companies first.



Representatives of two major Russian oil companies, Lukoil and Gazprom, arrived in Erbil today to discuss KRG oil exports and the development of Kurdistan's oil fields.

Details: A delegation from the two companies separately met with the Minister of Natural Resources and the Head of the Diwan of Prime Ministry Omed Sabah in Erbil.

According to Sabah, the meetings discussed the agreement between the KRG and the Iraqi government to resume oil exports, as well as the investment activities of Russian companies in the region.

Later, Vadim Botakov, Director General of Russian Gazprom in Iraq and the Middle East, visited the Prime Minister's Office.

Sabah stated that the meeting emphasized continuous coordination between the KRG and oil companies, as well as the KRG's ongoing efforts for strategic partnerships with oil companies and resolving oil and gas issues between the Iraqi Federal Government and the KRG within the constitutional rights of the Kurdistan Region.

The development of oil fields was another topic discussed between the Head of the Bureau and the Russian company's representative. Sabah reaffirmed the KRG's support for the energy sector and oil companies operating in the Kurdistan Region.

In 2017, the Russians established a presence in the KRG's oil sector, with Rosneft owning 60% of the Kurdistan oil pipeline worth $1.7 billion, according to an agreement signed in the presence of the KRG Prime Minister, Deputy Prime Minister, and Minister of Natural Resources.

Oil exports from the KRG have been suspended since March 25, 2023, prompting foreign oil companies to write a letter to the United States demanding pressure on Baghdad to resume exports.

Despite the suspension of exports to the Turkish port of Ceyhan, companies are currently producing 200,000 to 220,000 barrels of oil per day in the Kurdistan Region.

After resolving the salary issue, the Iraqi authorities are expected to work on resuming oil exports from the Kurdistan Region, as the budget law requires the KRG to export 400,000 barrels of oil per day, with the revenues going directly to the Federal Ministry of Finance. The only disputed issue between Erbil, Baghdad, and foreign companies remains the cost of oil production in the Kurdistan Region.

[punter26] 08/4/2024 21:27

Michael Knights@Mikeknightsiraq (April 8 2024)

"This thread is well worth a read. Fuad is a lovely man and did all his early post-2003 work in helping to reshape the old Baathist-era curriculum into a modern system. I knew his wife was Dutch but not that she was of the Montessori family, so a lot of things click now."


IMO Fuad Hussein is an honorable man who has always fought for the Kurdish cause. I believe we are fortunate that he occupies the (often difficult) position of Iraqi FM, and is a skilled statesman with it.(Punter26)

[jackpotjack] 08/4/2024 18:54

How does that work with the war and a FTSE company?

[justiceforthemany] 08/4/2024 18:53

LUKOIL and GAZPROM held meetings in Erbil over the weekend, looking to develop its oil fields.
Interesting....
M&A anyone?

[justiceforthemany] 08/4/2024 16:48

IOCs need to forget about the $6/barrel production cost and just sell at spot price. No point arguing over the $6 when the selling price will go up by $65!
APIKUR should have already contacted Baghdad about such matters.

[petebreeze37] 08/4/2024 15:57

If the pipeline is not certified as open in one or two weeks then krg have every justification to go independent.
I have my doubts about the two war lords who are more interested in fleecing their people and are working in tandem in this deception.

[habshan] 08/4/2024 15:56

Bigdog - "Well delusional fantasists, can you see who is really holding all the cards now:-)"

Bigdog - "I keep telling you whatever gets announced out there cannot be trusted. Something you idiots have never learnt."

So why do you trust it Sarah.

Don't let yourself be swayed by Iraqi newspaper headlines and off the cuff quotes from Iraqi politicians.

That refurbished pipeline may be ready to go on 1st May or whatever but it still goes through Kurdish territory and the metering station at Fishkabour, and we've heard nothing about it from the Kurds, will they allow it to be used.

And Turkey may have said that the pipe from Fishkabour to Ceyhan has been ready to receive oil since last October and I'm sure that's true.

But that doesn't mean they've agreed to it being used, Iraq has to agree Turkey's terms first and that means Iraq agreeing to Turkey's demands for transit fees, discounted oil, agreement over the fines that were imposed in Paris and then there's the $800,000 a day fine to be paid by Iraq for not using the pipe since last October when Turkey told them the pipe was ready.

And then there's the water issue which Erdogan has tied to the export issue.

All of those issues need to be resolved to Turkey's satisfaction before Erdogan will allow oil to flow.

And today we're told that the Russians who own 60% of the system also want a transit fee of $6 a barrel

There's some way to go yet.

[bigdog5] 08/4/2024 15:43

Well delusional fantasists, can you see who is really holding all the cards now:-)

[petebreeze37] 08/4/2024 14:42

Venga , venga!

[hangthedj] 08/4/2024 14:39

A year ago the master plan which was signed and sealed, was for KRG to deliver 450kbopd and the ICG would transfer 12.6% of the budget and the IOC's would be paid from that.

Of course it never materialised but maybe we're heading back to that now with ICG monitoring all KRG exports via Kirkuk-Ceyhan pipeline and not paying Rosneft $6 per barrel fees = $81m per month

[fairenough11] 08/4/2024 14:10

Genel flash crash--later released news piece pushed out---definate jiggery pokery.
We've seen it all before.
Let's see what Apikur have to say as they don't have to accept anything that's less
than current contracts and which doesn't meet their requests.
They'll see them in court.

[mmt1] 08/4/2024 14:03

Well I phoned GKP and GENEL. No one from investor relations currently available but hopefully someone will give me a call back... Lets see if they do know of anything in regard to the second pipeline...

[furenstaurus] 08/4/2024 13:13

#gkp #gkptakeoverAbsence of further 2024 awards = a deal has been agreed as at FY 2023 audit, no more dilutive options can subsequently be issued.Hence it's clear you have sold up@Gulf_Keystoneat last....😎ðŸ'?When you announcing? @HSFlegal.......................Fill yer boots and hold