Gulf Keystone Petroleum Share Discussion Threads

[habshan] 10/12/2024 10:51

We should get an update before the end of next week.

Hopefully it'll include something about the buyback and the status of the budget amendment on top of the usual production and realised prices.

Anything that helps clear some of the fog would be appreciated.

Personally I think that after the 1st reading it was realised that parliament just wouldn't agree to vote for it until they could actually see how much it's going to cost and how much the IOCs are going to be paid, and the $16 maybe more maybe less just doesn't cut it so it was sent back to the Finance Committee for more work.

Which is why we're being told by the head of the Finance Committee the Kurdish Minister of Natural Resources and others:-

"Discussions are ongoing to amend the federal budget to resolve disagreements between Baghdad and Erbil regarding oil exports. The amendments aim to address financial entitlements owed to oil companies operating in the Kurdistan Region."

“There are many signs of resuming oil exports through SOMO in the new year,” Salih said, adding that adjustments to the budget law are underway to facilitate this process.

I think the $16 was proposed simply to get the law approved because if they'd waited until the Independent Consultant had come up with the real numbers first then it would be a lot harder to get parliament to approve it as Sudani and the Finance Committee know that the final numbers are more likely to be in the $20s.

So it'll be interesting to see what the next version (Revision-(a)) looks like.

All assuming of course that it's not just political shenanigans at work.

[redbed] 10/12/2024 10:22

It doesn't matter, gkp is sold TBA

[pittcock] 10/12/2024 10:19

19 months of closure. What's another month? There does seem to be an inevitability about opening it this time.

[redbed] 10/12/2024 09:43

#gkp #gkptakeover 75%duration of @Gulf_Keystone buyback program has elapsed.So far they have spent 0.26% of the capital allocated.???In your own time @HSFlegal @evercoreco

[kevc67] 10/12/2024 08:43

No probs! Just what you said really.

[paul4742] 10/12/2024 08:36

Thanks Kev..I couldn't paste the url for some reason.

[kevc67] 10/12/2024 08:31

https://www.iraqoilreport.com/news/parliament-goes-into-recess-without-passing-krg-oil-amendment-46839/

[paul4742] 10/12/2024 08:26

Anybody got full access to this article?



Parliament goes into recess without passing KRG oil amendment
Budget legislation that could have helped restart Iraq’s northern crude exports is delayed until at least January.

Iraq's Parliament went into recess Dec. 9 without holding a second reading or vote on a Cabinet proposal to amend the budget law to pay Kurdistan's oil-producing companies, postponing further consideration of the bill until January at the earliest.

[bang_gone] 10/12/2024 07:09

#gkp #gkptakeover 75%duration of @Gulf_Keystone buyback program has elapsed.So far they have spent 0.26% of the capital allocated.???In your own time @HSFlegal @evercoreco

[fairenough11] 10/12/2024 05:55

BIGGER picture a faite accompli.Pipeline,delays et al manufactured to reach the bigger picture.
IMO
xmas gift or new year present?
It's an oilman's dream!
GLA

[shortsqueezer] 10/12/2024 05:31

So are we good to go? Or not? Yesterday's price movement suggests we are.

[highlander7] 10/12/2024 05:21

Zoom News@zoomnewskrd:16hr

Kurdistan Region Minister of Natural Resources Kamal Muhammed met with Yann Braem, French Consul General in Erbil, to discuss the swift resumption of Kurdistan oil exports. Salih praised the Federal Budget Law amendment for breaking the oil export deadlock and expressed optimism for the restart in the new year, emphasizing the importance of oil exports in boosting the revenues of both Iraq and the Kurdistan Region.

[khorsiangchew] 10/12/2024 04:53

Going 70. Me too don't need much only £100 will do...a share

[ptmorris1] 09/12/2024 23:47

No, but I can smell horses....
Reference to the film Party Party.

[fardels bear] 09/12/2024 22:21

Can I hear hooves?

[nestoframpers] 09/12/2024 21:44

Splendid, Total Shell whoever just get GKP sold . The Dutch know they are in deep on the register.

[buyingacastle1] 09/12/2024 20:06

Just a matter of time... patience... I am happy to have >£1m here and the treeshakes like this morning are just that! Game on.... exciting times...

[nestoframpers] 09/12/2024 17:28

But JBG is right the Bot servers will be over heating here soon.

[nestoframpers] 09/12/2024 17:26

Yes should have been F.in GKP Limmers.

[shortsqueezer] 09/12/2024 17:10

I'm expecting another divi soon. All looking good.

[habshan] 09/12/2024 17:02

ERBIL —" Efforts to resume oil exports from the Kurdistan Region through the Iraq-Turkey pipeline are gaining momentum.

“There are many signs of resuming oil exports through SOMO in the new year,” Salih said, adding that adjustments to the budget law are underway to facilitate this process."

09/12/24



Erbil, Baghdad Work Towards Resuming Oil Exports.

Efforts to resume oil exports from the Kurdistan Region through the Iraq-Turkey pipeline are gaining momentum, as officials emphasize the economic importance of resolving the issue.

The pipeline has been inactive since March 2023 following a Paris-based arbitration court ruling that found Turkey had violated a 1973 pipeline agreement by allowing Erbil to independently export oil since 2014.

The suspension has caused significant financial losses, with the Kurdistan Region’s Minister of Natural Resources, Kamal Mohammed Salih, estimating that the halt has cost Iraq and the Kurdistan Region nearly $21 billion.

During a meeting with the French Consul General in the Kurdistan Region on Monday, the KRG minister underlined the critical role of resuming exports in addressing Iraq’s budget deficit.

He also expressed gratitude for France’s ongoing support and its efforts to assist in restarting exports. French officials highlighted the strengthening ties between France and the Kurdistan Region, noting the interest of French companies, particularly in the oil sector, to invest in the region.

“There are many signs of resuming oil exports through SOMO in the new year,” Salih said, adding that adjustments to the budget law are underway to facilitate this process.

On Sunday, the head of the Iraqi Parliament’s Finance Committee, Atwan Atwani, stated that discussions are ongoing to amend the federal budget to resolve disagreements between Baghdad and Erbil regarding oil exports. The amendments aim to address financial entitlements owed to oil companies operating in the Kurdistan Region.

Meanwhile, the Federal Financial Supervision Bureau reported that employee salary payments in the Kurdistan Region are proceeding smoothly, with most employees already paid. The bureau also emphasized the need to finalize biometric registration by the end of the year to ensure efficiency in salary distribution.

The resolution of the pipeline issue is seen as vital for the economic stability of both Iraq and the Kurdistan Region, as efforts continue to restore oil exports and address associated financial challenges.

[johnbuysghost] 09/12/2024 16:47

The share price held up very well this afternoon. The market knows good news is imminent.

[shortsqueezer] 09/12/2024 16:43

69 say no more. From January next year I will be drawing down from my investments to top up my pension. Loving the divis as they delay that moment. Feeling confident.

[eddie47] 09/12/2024 16:40

Macron was right chummy with Nechirvan Barzani at the Notre Dame reopening last night. Both looked very happy.