Gulf Keystone Petroleum Share Discussion Threads

[arcadian] 23/4/2024 11:00

GKPBANGone



I wrote recently

Not the words of a federalist....." Nothing else matters"

Can`t be long. Sounds ominous.

Declare independence, restart the oil flow. get Turkey to pay them ,reassure AKIPUR
,get investors and military from US etc

Stranger things have happened but they must be worn down by constant visits,committees getting nowhere with no money.Iraq could join Iran- makes sense on so many fronts and the hate lines would be better defined.

Has it been announced yet? HABS Punnter Beernut???????
Arcadian - 27 Mar 2024 - 10:57:27 - 701374 of 703275 THE NEW GKP / Drilling for Super Giants (moderated) - GKP
H7

Joking when I wrote this but things are afoot as the Kurds are not happy.

Arcadian - 28 Feb 2024 - 10:58:52 - 699830 of 701372 THE NEW GKP / Drilling for Super Giants (moderated) - GKP
Given all these attempts at rapprochement with the US,the Kurds could ask to become part of Turkey.They are both Sunni and could supply it with oil through the pipeline and get water in exchange. They more in common with the Turks than the rest of IRAQ and would become part of NATO eventually applying to join The European Union.With the world adopting right wing leaders, consolidation is the key, on the principle that he that is not for us is against us as exemplified by this BB when someone does not show 100% allegiance.

[worldquant] 23/4/2024 10:52

Almost certainly as part of the sale agreement the 71m owed by GKP to MNR will be set off v 151m o/s.
Then an adjustment / extension of the PSC terms to set off the balance the MNR will still owe.
All of this is noise - company clearly sold TBA in May pre AGM to vote through.

[hangthedj] 23/4/2024 10:45

Remember KRG were 6 months behind with payments to IOC's and that couldn't be allowed to continue. Personally I was happy when exports for free stopped.
There wasn't even any communication from KRG as to how they were going to catch up with overdue payments, total shambles in the end.

[justiceforthemany] 23/4/2024 10:35

We've been saying for a while, the KRG and IOCs were far too hasty in shutting off exports. Like frightened mice. They could have appealed the ruling for example. In that part of the world anything goes, literally.

[pittcock] 23/4/2024 10:18

When was KRG statement released? I'm guessing after Erdos visit

[gkpbanggone] 23/4/2024 10:03

I agree F11, and the corporate clues 99.99% = an agreed sale TBA..Just a game imo.They already know the conclusion.Maybe last chance for the bad actors to make a few quid and the accumulators to add a few more.Remember Cove shenanigans which got rid of many PIs before the final blockbuster offer.GLA

[arcadian] 23/4/2024 10:02

MMT et al Even better summary than limbo

Is this what Ghani is thinking about the coming days (or was it perhaps Macbeth?)

: I am in blood / Stepped in so far, that, should I wade no more, / Returning were as tedious as go o'er

[gkpbanggone] 23/4/2024 09:56

I agree F11, and the corporate clues 99.99% = an agreed sale TBA..Just a game imo.They already know the conclusion.Maybe last chance for the bad actors to make a few quid and the accumulators to add a few more.Remember Cove shenanigans which got rid of many PIs before the final blockbuster offer.GLA

[limmershin] 23/4/2024 09:19

Perhaps Erdogan's visit to USA on 9th May could have some significance as to how this plays out.
Certainly some "leverage" could be applied - hopefully!

[hydrocarbon1] 23/4/2024 09:17

Yes great we wait 5-10 years for court settlement.
Iraqi topdogs don't give a damn about law, if they did we would not be where we are now.
Their hatred and greed are all that drives them. Never believe what they say either.

[habshan] 23/4/2024 09:02

"Those lawyers include the late Professor James Crawford, a Judge of the International Court of Justice, and more recently Judge Stephen Schwebel, a former President of the International Court of Justice."

Habshan 22nd March:-

"If it went to arbitration it would be DEVASTATING to the Federal Government were the legal and constitutional validity of the so called Iraqi Supreme Court itself be ruled against. That would mean that EVERY decision made by that court since it's inception some 20 years ago including it's ruling against the PSCs would be deemed illegal and invalid.

However there's worse, far far worse.

International Arbitrator Judge Stephen M. Schwebel:-

"It's also the case that the arbitral court in assessing the legality of the contracts, the Kurdish energy industry and the Kurdish Oil & Gas Law, would rule on "the issue of Articles 110, 114, 115, and 121 of the Constitution, which do not grant the Federal Government exclusive authority over oil and gas resources. Instead, these articles empower regions to manage the production of oil and gas within their territories."

THAT has already been ruled on by the English High Court and would inevitably form part of the arbitral court's deliberations, and a ruling on THAT would be CATASTROPHIC for the Iraqi state and could potentially lead to the break up of the country.

Arbitration is something that the Federal Government needs to avoid at all cost."

[shortsqueezer] 23/4/2024 08:53

Well if Erdogan and the Kurds agree to ignoring the stupid French court judgement and the Iraquis belligerence then why not? Nothing to lose apart from their piece of the budget which may arrive or may not. All hands to the pumps!

[gkpbanggone] 23/4/2024 08:49

I am starting to think the KRG are going to go it alone with Erdogan's support

[shortsqueezer] 23/4/2024 08:36

Probably one of the pro Iranian meddlers

[1waving] 23/4/2024 08:33

.
This statement should have been released a long time ago.


" As the MOI well knows, there is no provision of the 2005 Constitution of Iraq that confers any power upon the FGI to “approve”; contracts issued by the KRG. The legal basis for those production contracts is the 2007 KRG Oil and Gas Law, passed unanimously by the democratically-elected Kurdistan parliament. That 2007 law is acknowledged by the world’s leading constitutional and international lawyers as having a solid basis in the 2005 Constitution of Iraq. Those lawyers include the late Professor James Crawford, a Judge of the International Court of Justice, and more recently Judge Stephen Schwebel, a former President of the International Court of Justice. Both lawyers published their opinions. Those eminent opinions have, quite rightly, been the basis of hundreds of billions of dollars of investment, including a great deal of western investment, in Iraqi Kurdistan.

By contrast, the MOI relies on nothing more than a February 2022 “order” from a panel or committee of political appointees in Baghdad that asserts the unconstitutionality of the 2007 KRG law. While the MOI publicly refers to that committee as the “Federal Supreme Court”, everyone knows that it is no such thing. The so-called “court” was not convened in accordance with the relevant provisions of the 2005 Constitution. It is revealing that the MOI does not even argue for the legitimacy of that committee. As one would expect, the February 2022 “order” of the political committee is, like the Saddam-era orders on which it is modelled, almost comically devoid of even the most rudimentary legal reasoning. It is an embarrassment to the people of Iraq. The KRG executive pointed out this plain fact from the moment the “order” was issued, followed soon after by the KRG legislature and judiciary. The KRG judiciary is properly constituted, and it does not recognise the 15 February 2022 order as the decision of a court."


Rancid corruption in the ICG and SOMO

.

[kenjen1] 23/4/2024 08:32

The Iraqi PM must be pulling his hair out at the M of Oil. He spent the last week in the US trying to encourage American energy firms to work in Iraq, only to see his bumbling colleagues mess up day after day. The KRG statement from yesterday is very clear. They will go it alone if they need too.

[gkpbanggone] 23/4/2024 08:29

And it's all effectively a side show as the company is sold TBA in May..https://x.com/chicagojack5/status/1782379228224184512?s=61&t=EEAJRmerpfLiAmForyb8Dw

[tombag] 23/4/2024 08:21

According to militiaman youtube blog today,Iraq Parliament is due to go into recess very soon, but legally cannot go into recess until approval of the Budget Schedules as they are part of the Budget Law. So Iraq Parliment is pressured to get the Budget Schedules approved.

[fairenough11] 23/4/2024 08:12

Just a game imo.They already know the conclusion.Maybe last chance for the bad actors to make a few quid and the accumulators to add a few more.Remember Cove shenanigans which got rid of many PIs before the final blockbuster offer.
GLA

[confused _gerbill] 23/4/2024 08:03

Lol am working will check now ☺️