Gulf Keystone Petroleum Share Discussion Threads

[mmt1] 28/5/2024 18:58

mind you the the translation app on android via camera translates to close to that...

[habshan] 28/5/2024 18:57

BasNews - Iraqi Oil Ministry Urges Meeting to Resume KRG Oil Exports.

ERBIL — The Iraqi Oil Ministry has called on the Kurdistan Region’s Ministry of Natural Resources and companies operating within the region to convene in Baghdad to discuss the resumption of oil exports from Kurdistan.

In a statement released on Tuesday, the Ministry emphasized the need to align the export processes with existing agreements, specifically routing exports through the Turkish port of Ceyhan in compliance with the fixed quantities stipulated in the budget law.

Oil exports from the Kurdistan Region have been suspended since March 25, 2023, leading to significant financial and infrastructural setbacks for both Iraq and the Kurdistan Region. The halt has also impacted the global energy market, reducing the supply by approximately half a million barrels of oil per day.

The ongoing discussions between Baghdad, Erbil, and Ankara aim to resolve the issues and facilitate the resumption of these crucial exports. However, international oil companies operating in the Kurdistan Region have pointed to the Iraqi federal government's refusal to restart the exports as a significant barrier.

Myles Caggins, a spokesperson for the Association of the Petroleum Industry of Kurdistan (APIKUR), highlighted in a statement to Kurdish media that one of the main points of contention involves the contracts with international oil companies and the costs associated with oil production.

[worldquant] 28/5/2024 18:46

#BREAKING: Iraq's Ministry of Oil calls on the Kurdistan Regional Government (KRG) and international oil firms to convene in Baghdad for high-stakes negotiations to resume Kurdistan Region's oil production and reopen exports via Iraq-Turkey pipeline, aligning with the budget law - statementhttps://x.com/zoomnewskrd/status/1795497706263052327?t=EohX7kQLkYMCh9-B3EnJVA&s=19

[mmt1] 28/5/2024 18:39

hxxps://www-oil-gov-iq.translate.goog/?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

where is it? the ministry of oil translates fully from the arabic...

Arabic site - hxxps://www.oil.gov.iq/

Look which side the logo is on x/twitter and his posting...

[worldquant] 28/5/2024 18:34

Here https://x.com/KurdistanWatch/status/1795503631514374301?t=4EHRP4hKBVlWjtBTnn5yAQ&s=19

[worldquant] 28/5/2024 18:33

MoreThe Iraqi Oil Ministry calls for an urgent meeting in Baghdad with the KRG and foreign oil companies to expedite the KRG oil export restart through the 'Northern System,' which may indicate export via the Kirkuk-Turkey pipeline.The Iraqi Oil Ministry released a statement saying:The Federal Oil Ministry is dedicated to resuming oil production in the Kurdistan Region and restarting oil exports through the Northern System to serve the national interest. The oil minister invites the KRG and international oil companies to attend a meeting as soon as possible in Baghdad with the purpose to reach an agreement that will expedite production and resume oil exports via the Turkish port, in line with the quantities specified in the budget law.

[mmt1] 28/5/2024 18:31

There is no such article.. I had to check just in case :]

[habshan] 28/5/2024 18:12

"Iraq's oil ministry invites the KRG's natural resources ministry and the International Oil Companies for an urgent meeting in Baghdad...."

If that's true it's because they're panicking, they've finally cottoned on that everyone is making good money out of Kurdish oil except them, they've been sidelined and are in danger of becoming an irrelevance with the Turks the Kurds and the IOCs now content to cruise until September next year while the Federal Government's budget deficit balloons and they lose $1 billion a month in export revenues.

They thought they had a trump card with the Kurdish civil servant salaries to use as hostage but that was taken off them. They've got no cards left.

Fingers crossed.

[adamrugen1066] 28/5/2024 18:09

That doesn't exactly aid bigdump's narrative. Time he got a new hobby!

[habshan] 28/5/2024 17:55

Bigdog - "we do see that Epicure are still begging for a meet."

Hehehe.

"Iraq's oil ministry invites the KRG's natural resources ministry and the International Oil Companies for an urgent meeting in Baghdad...."

[shortsqueezer] 28/5/2024 17:55

But that was based on the existing ITP contract. It all expires together as I see it.

[bobgray51] 28/5/2024 17:52

Here we go

[bobgray51] 28/5/2024 17:52

#BREAKING: Iraq's oil ministry invites the KRG's natural resources ministry and the International Oil Companies for an urgent meeting in Baghdad to discuss an agreement to accelerate the resumption of the Kurdistan Region's oil exports - Statement

[eddie47] 28/5/2024 17:51

If the loading of oil by Turkey wasn't the critical item surely the KRG would truck to Ceyhan therefore bypassing the pipeline.

[habshan] 28/5/2024 17:45

"Turkey does an enormous amount of trade with Iraq.
Because of that, I would say Baghdad has FAR more leverage with TR than Erbil will ever have."

Wrong.

Erbil's leverage with Turkey is about security and discounted oil not trade.

Turkey's economy is the 8th largest in Europe and 18th in the world whereas Iraq languishes at 49th so Iraq needs Turkey more than Turkey needs Iraq.

And Turkey controls Iraq's water.

For years Turkey was getting discounted oil and gas from Kurdistan which for the last 14 months Iraq has cut off and has refused to restart, and Erdogan is far from happy about it.

If Iraq won't come to their senses recognise the Kurds constitutional rights and honour the PSCs they'll be cut out of the new pipeline agreement.

After next September the ITP agreement including the clause concerning the loading of ships will expire and Iraq will no longer have any power to stop exports, why would the Kurds and Turkey want to keep the pipeline shut.

[eddie47] 28/5/2024 17:37

Once the current ITP agreement finishes the KRG may be able to use the pipeline but will Turkey be able to load the oil at Ceyhan? That was the only part of the ICC ruling that stopped the flow of oil. Loading is the critical item.

[mmt1] 28/5/2024 17:34

Great minds and all, I was also thinking the same that we are probably now going to have to wait it out till ITP agreement expire. Hence just getting on with on with life. I held one stock over 10 years before it came good... Pretty sure GKP will also, just don't know when now....

[broadford bay] 28/5/2024 17:26

Turkey does an enormous amount of trade with Iraq.
Because of that, I would say Baghdad has FAR more leverage with TR than Erbil will ever have.

Not quite so straightforward as sticking up 2 fingers...

[shortsqueezer] 28/5/2024 17:17

True. And I am willing to wait it out. After 13 years another 16 months will not hurt. Also it is only a relatively short period for big players to stake build.

[petebreeze37] 28/5/2024 17:11

HG, that why some of us are resigned to a year this September when turkey and krg can, supposedly, use the pipeline and give two fingers to bagdad.

[highly geared] 28/5/2024 17:06

It's funny that when you read the only 2-3 factual statements from APIKUR and the KRG over the last 2-months, anything media wise put out there via the ICG/KRG mouthpieces and spouted by the media outlets over the last few months has been complete hogwash.

Based on the factual statements, progress is pitiful and unless tripartite engagement occurs, we're looking at a likely impasse that will continue until the current ITP agreement runs out and APIKUR/KRG/Turkey negotiate a new one.

[adamrugen1066] 28/5/2024 16:42

There you go again Bigdog, always lying! It's just lies, lies, lies with you. They say you should watch what a man does, not what he says, and what I see you doing is every day commenting on a BB that "never affected you". Why can't you give it up?Keep living in your fantasy world where you managed to sell in time :-)

[worldquant] 28/5/2024 16:25

#gkp #gkptakeoverWondering why@Gulf_Keystonearen't buying zillions?Because 'Buyback Program' ='Stabilisation program'Telling naughty entities - upset mkt in our securityWe will buy it all.All pre most obvious + possibly highest premium takeover in LSE history.

[worldquant] 28/5/2024 16:25

AgreeInteresting watching trades and the chart today. Lots of pushing and pulling. Another few days of this and we should be heading over 200 pretty pronto.