Gulf Keystone Petroleum Share Discussion Threads

[steephill cove] 20/4/2024 09:14

If you remember, these licencing rounds were deliberately postponed in February 2024, because of issues with Kurdistan IOC contracts not being resolved & the possible ramifications on new Iraq Licencing Rounds 5 (Oil Blocks) & 6 (Gas Blocks).

IMHO:- Given that licencing winning bids are now being opened more quickly suggests Kurdistan; APIKUR & the Kurdistan IOCs are now about to get a positive result.

[steephill cove] 20/4/2024 09:07

Interesting news. Looks like things are now starting to move at pace!

Winning oil bids for both licencing rounds 5+ & 6 are to be opened on the same day & earlier than scheduled.

MEES. Iraq: Oil Bids To Be Opened 27 April.

19 Apr 2024

Issue: 67/16

By: Yesar Al-Maleki.

Iraqs Oil Ministry said on 18 April that a ceremony will be held on 27 April to receive and open competitive offers from international oil companies participating in both of Iraqs licensing rounds planned this year: the fifth licensing round plus annex (LR5+) and the gas focused sixth licensing round (LR6).

In February, the Petroleum Contracts and Licensing Directorate had published a schedule indicating that bid submissions for each round would be held separately (MEES, 9 February), but this no longer appears to be the case.

The new date is even earlier than the previously communicated 28-29 April for LR5+ and LR6s 1-2 May.

[hydrocarbon1] 20/4/2024 08:49

ERBIL, Kurdistan Region - The federal government will continue to pay the salaries of Kurdistan Region’s civil servants, Iraq’s finance minister said on Friday.

“We will continue to send the salaries to the Kurdistan Region as per the federal court ruling,” Taif Sami told Rudaw’s Diyar Kurda in Washington on Friday, referring to a February ruling by the Iraqi Federal Supreme Court that ordered the federal government to pay the salaries of the Kurdistan Regional Government’s (KRG) civil servants and for Erbil to hand over all oil and non-oil revenues to Baghdad.
---------------------------------------------------------------
Lip service

[highlander7] 20/4/2024 08:18

As always with the ICG , if common sense and decency fail , then threaten them.
looks like its worked again.

[beernut1] 20/4/2024 07:56

Turkey offers support to resolve Erbil-Baghdad oil export issue
Highlighting the importance of transparency, Bayraktar indicated that Turkish President Recep Tayyip Erdogan's upcoming visit to Baghdad on Monday may also include a potential stop in Erbil. author_image Kurdistan 24
21 Hours

An petroleum facility in the Kurdistan Region. (Photo: Archive)
An petroleum facility in the Kurdistan Region. (Photo: Archive)
Kurdistan Oil Exports Resumption of Oil Exports Turkey Iraq-KRG Alparslan Bayraktar Receb Tayyib Erdogan
ERBIL (Kurdistan 24) - In a recent television appearance, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar expressed Turkey's readiness to assist in resolving the ongoing oil export dispute between Erbil and Baghdad.

Highlighting the importance of transparency, Bayraktar indicated that Turkish President Recep Tayyip Erdogan's upcoming visit to Baghdad on Monday may also include a potential stop in Erbil.

Bayraktar emphasized the significant capacity of the pipeline connecting Turkey and Iraq, capable of exporting up to 1.4 million barrels of oil per day. Despite this capacity, the pipeline has yet to reach its full potential, a matter Bayraktar hopes to address.

Addressing concerns about delays in oil exports, Bayraktar clarified that Turkey has been prepared for oil exports since October 4 of the previous year, suggesting that the issue lies beyond Turkish involvement.

In related developments, Iraqi Oil Minister Hayyan Abdul Ghani recently affirmed plans to resume oil production and exports from the Kurdistan Region, with daily production estimated at 375,000 to 400,000 barrels, as outlined in the Iraqi budget.

Read More: Iraq, Kurdistan Region in talks to resume oil exports, says Iraqi Oil Minister

The suspension of oil exports from the Kurdistan Region via the Iraq-Turkey pipeline over the past year has led to significant economic losses for Iraq, totaling $11 billion in revenue and $400 million in investments from APIKUR member companies.

Read More: KRG oil export suspension threatens global energy balance, warns expert

Despite the willingness of both Turkish and Kurdistan Regional Governments to address the issue, Iraq has yet to signal readiness to resume oil exports. APIKUR, representing oil companies, stresses the importance of prompt resumption of exports and urges adherence to previously agreed terms.

Read More: APIKUR optimistic about KRG's oil pipeline ahead of White House meeting

The developments highlight ongoing efforts to navigate challenges in the region's oil sector, underscoring the importance of cooperation and dialogue between stakeholders to ensure stability and prosperity.

[beernut1] 20/4/2024 07:53

Turkish President Erdogan to visit Erbil amid talks with Baghdad
Erdogan's visit to the Kurdistan Region and Erbil signifies a notable shift, with specific agenda items outlined. This emphasizes the focus on resolving bilateral issues, contrasting previous visits where the agenda remained unspecified. author_image Kurdistan 24
18 Hours

Turkish President Recep Tayyip Erdogan. (Photo: AP)
Turkish President Recep Tayyip Erdogan. (Photo: AP)
Turkey Receb Tayyib Erdogan Iraq Visit Turkey Turkey-KRG Resumption of Oil Exports
ERBIL (Kurdistan 24) - Turkish President Recep Tayyip Erdogan has announced his intention to include Erbil in his upcoming visit to Iraq, following talks in Baghdad.

Speaking to reporters after Friday prayers, Erdogan emphasized his commitment to addressing the issues between Erbil and Baghdad during his visit.

Erdogan's decision to visit Erbil marks a significant development, as he previously hinted at the possibility of such a visit without specifying the agenda.

This time, however, Erdogan highlighted the specific topics to be discussed in Erbil, underscoring the importance of resolving bilateral issues.

The visit, scheduled to take place on April 22, is expected to be a one-day affair, with discussions encompassing a range of issues, including Turkey-Iraq relations.

"We had planned our visit to Iraq following the elections, which have now concluded. With the help of God, we will proceed with our visit," Erdogan stated, affirming the timing of the visit.

Erdogan emphasized that discussions in Erbil would focus on addressing the challenges between Erbil and Baghdad, while broader aspects of Turkey-Iraq relations would also be part of the agenda, reflecting a comprehensive approach to regional diplomacy.

[beernut1] 20/4/2024 07:50

As per highlander7’s post.
Does mention oil revenue.

Iraq preparing to amend its budget law
Iraq's budget deficit has increased by 16 trillion dinars in the past year, bringing the estimated deficit for this year's budget bill to more than 80 trillion dinars. author_image Kurdistan 24
11 Hours

The meeting of the Iraqi Council of Ministers, Sept. 26, 2023. (Photo: INA)
The meeting of the Iraqi Council of Ministers, Sept. 26, 2023. (Photo: INA)
Iraq Budget law Iraqi Council of Ministers
ERBIL (Kurdistan24) – Khalil Ghazi, A member of the Iraqi parliament's finance committee, revealed to Kurdistan24 that the budget amendment for 2024 has been finalized by the Council of Ministers and is now awaiting the return of the Iraqi Prime Minister from Washington for final review.

Iraq's budget deficit has increased by 16 trillion dinars in the past year, bringing the estimated deficit for this year's budget bill to more than 80 trillion dinars.

The allocation of the budget to provinces in central and southern Iraq, especially those facing high poverty rates and service issues, has caused conflict among factions in parliament. These provinces are dissatisfied with the share of the budget allocated to them.

The Iraqi budget is composed of three main components: revenues, expenditures, and a budget deficit. Revenues include oil exports, taxes, and customs duties, while expenditures cover government spending in various sectors such as education, healthcare, infrastructure, and defense. The budget deficit occurs when expenditures exceed revenues, and it can be financed through borrowing or international aid.

[beernut1] 20/4/2024 07:46

Iraqi PM visits Houston to discuss Iraq’s future in oil and gas

IraqiNews April 19, 2024 1772 4 min
Iraqi PM visits Houston to discuss Iraq’s future in oil and gas
Houston (IraqiNews.com) – Iraqi Prime Minister Mohammed Shia Al-Sudani recently visited Houston, Texas, as part of an official visit to the United States.

Al-Sudani participated in a round table discussion with big US firms specialized in the oil and gas industry. The Arab-American Bilateral Chamber of Commerce hosted this conference, which highlighted Iraq’s commitment to forming strategic alliances on a global scale. Participating firms included Total Energies, Weatherford International, KBR, Schlumberger Limited (SLB), Khudairi Group, and others.

Prime Minister Al-Sudani articulated a vision characterized by collaboration and openness across various domains of engagement with the United States. Following fruitful dialogues, including a meeting with President Biden, the foundation for a robust partnership was laid, one that promises mutual benefit and shared prosperity.

“We came up with a vision for the shape of the relationship with the United States, after the understandings and the meeting with President Biden, that it be based on partnership and openness in all fields,” said Al-Sudani.

Al-Sudani unveiled ambitious plans to shift 40% of the nation’s exports towards value-added oil derivatives. Iraq also aims to reduce the $4 billion it spends annually on gas imports and lessen the negative environmental effects of gas flaring, realizing the cost to the environment.

Iraq wants to transform its energy environment by embracing efficiency and sustainability, and it plans to do it by forming strategic collaborations with multinational companies such as Total and Honeywell.

“Our plan is to stop burning gas through a contract with Total, which is a strategic step, and we encourage Honeywell and all companies to implement similar contracts,” said Al-Sudani.


A major step forward in international cooperation was revealed by the Prime Minister, who revealed intentions to build a petrochemical and refinery complex in the Ain Sokhna area of Egypt. Additionally, the initiation of the Basra-Haditha project’s first phase highlights Iraq’s will to improve export infrastructure, strengthening its standing in the world energy network.

“We developed an idea to establish a complex for petrochemicals and refineries in Ain Sokhna, Egypt, and now we have begun implementing the first phase (Basra – Haditha), which will serve us with flexibility in transporting exports,” said the Iraqi premier.

Al-Sudani mentioned that Iraq solidified its commitment to international partnerships by announcing a landmark agreement with a Chinese firm. The proposed construction of the Al-Faw refinery, boasting a daily capacity of 300,000 barrels.

[highlander7] 20/4/2024 05:25

john @john78846295: 7h

#Iraq is preparing to amend its budget law, which includes revenues from #oil... its been finalised by Council of Ministers & is now awaiting the return of the Iraqi PM from #Washington for final review.

[ptmorris1] 20/4/2024 02:55

I just wish he'd tell us how he really feels. None of this stiff upper lip stuff...

And on a serious note:

[nestoframpers] 19/4/2024 22:50

Sensible Iranian tells the mad mullahs a thing or two.

[0ili0] 19/4/2024 20:15

" Very good post from klassic again I note." said the left hand sock puppet to the right hand sock puppet. 😂😂😂

🐕💩5

[gkpbanggone] 19/4/2024 19:31

Takeover valuations.https://twitter.com/ChicagoJack5/status/1780929628112036209?t=ZZnbddLcFl5Cg8DJEUWmkg&s=19

[bigdog5] 19/4/2024 17:36

mikezen19 Apr '24 - 16:11 - 702826 of 702826
0 2 0

"I wonder how much the IOCs would really need for costs pb , if they didnt need to look after every kurd n his dog first. ???"

Exactly mikezen, its the herd of Elephants in the room that the excuse making clueless idiots lead by sarah the Queen lemming make excuses for, or try to ignore or really don't understand how many troughers there are that want a piece of the pie.

Its the very issue that Baghdad are trying do something about. Koruptistan isn't known for being one of the most corrupt places on the planet for no reason imho.

[mikezen] 19/4/2024 16:11

I wonder how much the IOCs would really need for costs pb , if they didnt need to look after every kurd n his dog first. ???

[gkpbanggone] 19/4/2024 15:51

Takeover valuations.https://twitter.com/ChicagoJack5/status/1780929628112036209?t=ZZnbddLcFl5Cg8DJEUWmkg&s=19

[gkpbanggone] 19/4/2024 15:50

When the powerful want to buy lots of 20 pound notes possibly 50's for a quid the market is going to be held down.

[habshan] 19/4/2024 15:36

"So if it costs $26pb (of course it does, lol) for Koruptistan to produce oil why would Bagdad be happy to pay that when they can produce oil 75% cheaper?"

So where will the billions come from to explore and develop the fields Sarah.

Who pays.

You keep telling us for instance that it'll cost billions to stop the gas flaring.

So if there's no mechanism for recovering their costs the IOCs won't be paying for it will they.

So where will the money come from. Who pays.

"Baghdad if/when they agree new terms with Epicure they will ensure it will be the Producers that will be picking up the costs as regards the massive difference."

So you're stupid enough to think that the IOCs are going to spend $26 a barrel exploring developing and pumping the oil and then agree to a remuneration of $6 a barrel and thus work for a loss of $20 a barrel.

It's just as well you aren't in charge Sarah.

You really are an idiot.

[bigdog5] 19/4/2024 15:29

Good afternoon gullible fantasists how's the Fantasy factory faring today.

Very good post from klassic again I note.

So if it costs $26pb (of course it does, lol) for Koruptistan to produce oil why would Bagdad be happy to pay that when they can produce oil 75% cheaper?

Baghdad if/when they agree new terms with Epicure they will ensure it will be the Producers that will be picking up the costs as regards the massive difference.

Obviously the company isn't sold and hasn't had any offers despite what Carroll the moron from Stockport says as that would be a serious breach to SE rules.

The Express still in reverse and sidings bound whilst the fantasists here hook their wagon up to the water man from Turkey to help them, lol.

[petebreeze37] 19/4/2024 14:50

I would think that what ever comes out of this tri party wash,USa irag and turkey, will have already been decided.
I just hope it has been a good wash for IOCs in Iraq.

[justiceforthemany] 19/4/2024 14:43

Hmm why would Erdogan want or need to go to Erbil?
Yet the share price remains illegally suppressed.