Gulf Keystone Petroleum Share Discussion Threads

[ptmorris1] 16/4/2024 23:07

How would 'we' get our oil to this pipeline once its fixed?

[justiceforthemany] 16/4/2024 21:39

The fact they are even testing the pipeline shows they're serious. Finally.
Resumption is a priority because otherwise the US will cease the billions of dollars they give the GoI every year and stop purchasing their oil.

[furenstaurus] 16/4/2024 21:03

https://twitter.com/GoodnightCharl1/status/1780262402698735749?t=p0qY2GrkCxj5Ac1nE2Z8ww&s=19

[furenstaurus] 16/4/2024 21:03

https://vimeo.com/925766409Shamaran presenting on M+A in Kurdistan.

[furenstaurus] 16/4/2024 21:02

Iraq ‘optimistic’ about resumption of Kurdistan oil exports: Spox(Rudaw: 1hr ago)"Spokesperson for the Iraqi government on Tuesday said that Baghdad is “optimisticâ€? about the restart of Kurdistan Region’s oil exports more than a year after it was suspended, adding that the resumption of the process is one of the federal government’s priorities.“Certainly, the issue of oil export by the Kurdistan Region is a priority for the central government,â€? Basem al-Awadi told Rudaw’s Diyar Kurda in Washington.Awadi, who is accompanying Iraqi Prime Minister Mohammed Shia’ al-Sudani in his first ever trip to the US as premier, added that the Iraqi government is “optimisticâ€? about the resumption of Kurdistan Region’s oil exports to Turkey which was halted in March last year after a Paris-based arbitration court ruled in favor of Baghdad against Ankara, saying the latter had breached a 1973 pipeline agreement by allowing Erbil to begin independent oil exports in 2014.“Resolving the issue of oil exports from the Kurdistan Region is a fundamental issue because it is related to the country’s resources and budget, and the Iraqi government is striving to negotiate with the Kurdistan Region,â€? the Iraqi spokesperson noted.US President Joe Biden received Sudani on Monday. They both “affirmed the importance of ensuring Iraqi oil can reach international markets and expressed their desire to reopen the Iraq-Turkiye Pipeline,â€? read a joint statement.Despite several talks between Kurdish, Iraqi, and Turkish officials, the exports have yet to resume and many international oil companies have suspended production.Before the halt, around 400,000 barrels a day were being exported by Erbil, in addition to some 75,000 barrels of Kirkuk’s oil.The Association of the Petroleum Industry of Kurdistan (APIKUR), an association of oil producers, announced in a statement on Tuesday that it “remains ready to immediately continue discussions with Government of Iraq and Kurdistan Regional Government officials to restore exports through the ITP [Iraq-Turkey pipeline].â€?The lack of agreement to restore oil exports “has cost Iraq more than $14.5 billion in lost export revenues,â€? APIKUR said in a separate statement on Friday.The international oil companies (IOCs) and the Kurdistan Regional Government (KRG) are bound by Production Sharing Contracts (PSCs). Under the Kurdistan Region’s PSC model, the IOCs cover the entire cost of production while the KRG receives the lion’s share of the profits from successful projects.Baghdad has repeatedly said that the PSCs between the IOCs and the KRG are a violation of the Iraqi constitution, stressing that the contracts need to be amended into service contracts such as the ones in federal Iraq before exports could resume."

[theythinkitsallover] 16/4/2024 20:42

“Optimistic221;. ….. yea whatever… this pipe ain’t opening anytime soon is it..

Roll on September 2025 when the KRG and say F.U to Iraq

[punter26] 16/4/2024 20:39

Iraq ‘optimistic’ about resumption of Kurdistan oil exports: Spox

(Rudaw: 1hr ago)


"Spokesperson for the Iraqi government on Tuesday said that Baghdad is “optimistic” about the restart of Kurdistan Region’s oil exports more than a year after it was suspended, adding that the resumption of the process is one of the federal government’s priorities.

“Certainly, the issue of oil export by the Kurdistan Region is a priority for the central government,” Basem al-Awadi told Rudaw’s Diyar Kurda in Washington.

Awadi, who is accompanying Iraqi Prime Minister Mohammed Shia’ al-Sudani in his first ever trip to the US as premier, added that the Iraqi government is “optimistic” about the resumption of Kurdistan Region’s oil exports to Turkey which was halted in March last year after a Paris-based arbitration court ruled in favor of Baghdad against Ankara, saying the latter had breached a 1973 pipeline agreement by allowing Erbil to begin independent oil exports in 2014.

“Resolving the issue of oil exports from the Kurdistan Region is a fundamental issue because it is related to the country’s resources and budget, and the Iraqi government is striving to negotiate with the Kurdistan Region,” the Iraqi spokesperson noted.

US President Joe Biden received Sudani on Monday. They both “affirmed the importance of ensuring Iraqi oil can reach international markets and expressed their desire to reopen the Iraq-Turkiye Pipeline,” read a joint statement.

Despite several talks between Kurdish, Iraqi, and Turkish officials, the exports have yet to resume and many international oil companies have suspended production.

Before the halt, around 400,000 barrels a day were being exported by Erbil, in addition to some 75,000 barrels of Kirkuk’s oil.

The Association of the Petroleum Industry of Kurdistan (APIKUR), an association of oil producers, announced in a statement on Tuesday that it “remains ready to immediately continue discussions with Government of Iraq and Kurdistan Regional Government officials to restore exports through the ITP [Iraq-Turkey pipeline].”

The lack of agreement to restore oil exports “has cost Iraq more than $14.5 billion in lost export revenues,” APIKUR said in a separate statement on Friday.

The international oil companies (IOCs) and the Kurdistan Regional Government (KRG) are bound by Production Sharing Contracts (PSCs). Under the Kurdistan Region’s PSC model, the IOCs cover the entire cost of production while the KRG receives the lion’s share of the profits from successful projects.

Baghdad has repeatedly said that the PSCs between the IOCs and the KRG are a violation of the Iraqi constitution, stressing that the contracts need to be amended into service contracts such as the ones in federal Iraq before exports could resume."

[pittcock] 16/4/2024 20:30

'Israeli Officials are now reporting that another High-Ranking Hezbollah Field Commander, Mohammad Chehouri has been Killed in an Israeli Airstrike'The Iranian proxies will be very nervous right now.

[worldquant] 16/4/2024 17:42

https://vimeo.com/925766409Shamaran presenting on M+A in Kurdistan.

[worldquant] 16/4/2024 17:41

https://twitter.com/GoodnightCharl1/status/1780262402698735749?t=p0qY2GrkCxj5Ac1nE2Z8ww&s=19

[habshan] 16/4/2024 17:37

"illegal contracts"

Clearly the Federal Government disagree with you Sarah.

If the contracts are illegal it would be as though they were never entered into in the first place, they simply wouldn't exist.

So why do the Federal Government keep saying that they can't restart exports because the IOCs want paying too much and it's all the IOCs fault.

Only yesterday Sudani told Biden that one of two options is to amend the contracts.

Why would the Federal Government want or need to amend contracts that are illegal and were never entered into in the first place.

[0ili0] 16/4/2024 17:34

The north. The new South. 😉

[worldquant] 16/4/2024 17:11

https://twitter.com/GoodnightCharl1/status/1780262402698735749?t=p0qY2GrkCxj5Ac1nE2Z8ww&s=19

[sniff_the_tip] 16/4/2024 16:59

Yea fair enough that Habby McHab. I tip my hat to you

[worldquant] 16/4/2024 16:46

https://vimeo.com/925766409Shamaran presenting on M+A in Kurdistan.

[paul4742] 16/4/2024 16:41

There is something going on... at the noisy neighbours.
They are UP nearly 70% YTD..!

SHAIKAN..ATRUSH..SWARA TIKA..?

[habshan] 16/4/2024 16:32

"Has it not occurred to you that the iraqi's are very willing to pay this price if it means keeping the kurds under their control...."

A few things there sniff.

Firstly I don't believe Sudani thinks like that, he's a lot more intelligent and forward thinking, which is why the Coordination Framework under Nouri al-Malaki and other Iranian leaning groups want early parliamentary elections so that they can try to oust him. Their problem is that Muqtada al-Sadr who is anti Iranian influence in Iraq has thrown his turban in the ring and is siding with Sudani and the Kurds with a potential election winning alliance on the cards with those and other parties.

Secondly Sudani is far more interested in developing the economy, creating jobs, building infrastructure, trying to reduce energy imports from Iran to zero and developing economic ties with Turkey. The Iraqi public recognise all that which is why he's so popular and is why Malaki et al are afraid of him.

"Biden, Sudani agree Kurdistan ‘integral’ to Iraq’s prosperity."



Thirdly Sudani is under pressure from both the US who want the pipeline reopened and from Erdogan who wants both maximum useage of his pipeline and stability in Kurdistan, and restarting exports from Kurdistan is one of the main topics on the agenda for his visit next week:-

"A crucial aspect of the discussions will revolve around the resumption of oil exports from the Kurdistan Region, Kirkuk, and Salahaddin to Turkey through pipelines leading to the port of Ceyhan. This topic holds strategic significance for both parties, with potential economic implications for the region."



And on top of all that Iraq are losing $1 billion a month and are in breach of contract and incurring a fine of $800k a day or $24 million a month.

And Iraq desperately need Erdogan to release more water which is his ace card.

And then there's the threat of arbitration hanging over their head.

Meanwhile as I say GKP with $90 million in cash and increasing by $6 million a month can ride it out indefinitely.

And next year the ITP agreement expires and a new agreement will be drawn up.

[worldquant] 16/4/2024 16:30

https://twitter.com/GoodnightCharl1/status/1780257316782149982?t=xC2Ixjn-LpDMtPqNKWmRTA&s=19

[worldquant] 16/4/2024 16:28

https://vimeo.com/925766409Shamaran presenting on M+A in Kurdistan.

[worldquant] 16/4/2024 16:15

#gkp #gkptakeoverThese are the current top known holders.Top 2 never change.@Gulf_Keystonehave given PI many clues regds incoming deal - most recent freeze of FD issue.Practical clues include CFO holding at 13 + CCO at 17.

[worldquant] 16/4/2024 16:15

The company has obviously agreed a sale.Anybody with an understanding of corporate actions can see that, as obviously can the buyers investment banks, who want as much stock pre public RNS for buttons.How do you do that, you squeeze retail out.

[punter26] 16/4/2024 16:10

Bachar EL-Halabi: 08:50 Apr 16, 2024

"Until this moment, no specific information on the situation has come out of the meeting, sources with knowledge of the matter told @ArgusMedia.

The source adds that IOCs “did not expect them to agree [on export restart] because the US gov’t is not a party to the contracts.”