Gulf Keystone Petroleum Share Discussion Threads

[ozzmosiz] 11/12/2024 08:53

Incredible, $66 billion stolen by al-Maliki and $59 billion by BarzaniDirty thieving c###s

[habshan] 11/12/2024 08:49

Kev - "Hope this is true."

Removing the dead hand of Nouri al-Maliki would change the entire political landscape.

Fingers crossed.

11th Dec. 24.

THE Donald Effect.

"According to what we have received, Nouri al-Maliki has suffered a health problem, and his office will announce this soon.

This is a prelude to his retirement from political work in Iraq.

Thus, he will be the first figure among the leaders of the pro-Iranian militias to implement the Iraq Liberation Agreement that I mentioned to you exclusively in a previous tweet.

Wait for exclusive good news."

[kevc67] 11/12/2024 08:31

https://x.com/BROTHERSTE27892/status/1866671139000627276 Hope this is true!

[bang_gone] 11/12/2024 07:51

46,000 and ramping up from PF1 optimisation.I reckon 60k is where they will be by mid Jan update .So even on local sales a very strong cash generator.Not that it matters , it's sold.

[bang_gone] 11/12/2024 07:24

I think they will start buying in now.PH and CG will not have been idle last 2 months.

[shortsqueezer] 11/12/2024 07:06

Decent update. Buyback deadline extended as I expected.

[highlander7] 11/12/2024 05:08

This board is now successful, thanks to Habshan mainly ( and others) after 15 years of trolls like BD5 and Broadfraud trying to rubbish it.

I still chuckle as I watch Doggie turn up for her daily kicking. She must like it.

LOL

[bang_gone] 10/12/2024 21:24

https://x.com/goodnightcharl1/status/1866572093011398981?s=61&t=EEAJRmerpfLiAmForyb8Dw

[bigdog5] 10/12/2024 21:19

SP 1.3p down from £4.60 after 15 years!!!

What a marvellous job you've all done delusional rampers, lol.

Sludge to get valued the same as the quality oil?

Most unlikely.

[highly geared] 10/12/2024 21:12

How does what appears to be on offer ($16) compare with the KRG PSC?

[habshan] 10/12/2024 20:55

"Thanks Habs."

Teamwork, it's what makes this a successful board.

Or anything else for that matter.

[kevc67] 10/12/2024 19:39

Thanks Habs.

[habshan] 10/12/2024 19:33

Kev - "Habs can you make sense of this?"

It's an account of what's gone on so far with the government trying to get the amendment and 2025 budget schedules in front of parliament for discussion and approval. Thanks for posting it.

It brings home the fact that the Kurdish oil issue is holding up the entire Budget Law for 2025 which needs to be passed before the government can implement it's spending plans, so it affects not just Kurdistan but the whole country. So the pressure is on.

400kbpd x 365 days x $72 = $10.5 billion and the government needs that money as the Finance Committee will have included it in their draft budget, so the amendment needs to be passed.

So if the Finance Committee can produce a final draft amendment then I can definitely see the President convening a special session of parliament to get it and the General budget passed.

Today 19:50

Maalouma Agency - Parliament and the government... a race with the 2025 budget.

The 2025 budget schedules in Iraq are witnessing a delay that raises widespread controversy between the government and Parliament, as the government has not yet sent the full details of the budget to the House of Representatives, which has raised concerns among members of the Parliamentary Finance Committee about the deadline for approval.

The statements indicate that the reasons for the delay are related to reviews of the financial schedules, especially those related to oil extraction expenses in the Kurdistan region and the costs of projects funded in 2025.

The Financial Management Law requires the government to submit the general budget to the House of Representatives 45 days before the beginning of the fiscal year, in order to allow the necessary time for its discussion and approval. Despite the clarity and frankness of the legal text, no Iraqi government, including the current government, has committed to implementing this entitlement.

Speaking about this file, Mustafa Al-Karaawi, a member of the Parliamentary Finance Committee, revealed that there were legal and constitutional violations by the government in sending the budget law to the House of Representatives.

Al-Karaawi said in a statement to the Maalouma Agency, “Article 77, the second paragraph of the Tripartite Federal Budget Law, indicated that the government must send the budget schedules before the end of the fiscal year,” noting that “the government sent an amendment to only one text of the budget, which is a text for Article 12 related to The cost of extracting oil in the region.

He added, "Failing to send the schedules on time is considered a legal and constitutional violation. Likewise, if the government proceeds with amendments to the items, there are many items that need to be amended and fair to many segments," adding, "We confirmed all of these observations in last Tuesday's session during the first reading of the amendment to the budget law." ".

He explains, “His committee is working to re-amend the budget law and send it to the government to work on general amendments to the law to be fair to all segments of society and address the problems in the previous budget.”

In addition, a member of the Parliamentary Finance Committee, Hussein Moanis, revealed that the budget amendments are subject to political amendments, not technical ones.

Mu'nis said in a statement to the Maalouma Agency, "The government has a point of view in resolving issues with the region and reducing oil smuggling operations by increasing production costs by $16 per barrel."

He added, "During the discussion of the proposal, we raised many questions: Why set $16? Is it a technical number or a consensual political figure?"

He pointed out that "the Parliamentary Finance Committee hosted those concerned and they assured us that the issue is political and not technical."

He explains, "The government's proposal is to prepare a consultative body. In the event of non-compliance, a committee of consultants will be formed to determine production costs."

He points out that "the Finance Committee determined that the amount would be an advance to be given to the region and a clearing would be arranged later."

He continues, "There are approximately 256 thousand barrels smuggled daily from the region with OPEC's permission. This file must be closed because it negatively affects government production," stressing that "the Finance Committee has reservations regarding advances and loans granted to the region."

It is noteworthy that the House of Representatives previously hosted Prime Minister Muhammad Shiaa Al-Sudani and his two deputies, the Minister of Planning, the Minister of Foreign Affairs, and the Minister of Interior, where amendments to next year’s budget 2025 were discussed.

[kevc67] 10/12/2024 18:58

https://almaalomah.me/news/85034/politics/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%88%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%B3%D8%A8%D8%A7%D9%82-%D9%85%D8%B9-%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-2025 Habs can you make sense of this? Cheers

[habshan] 10/12/2024 14:16

So the process is ongoing.

"The presidency can pass it by convening a special session."

Great work Ttiao, here's the full thing:-

Rudaw Digital.

The budget amendment will wait until 2025 or a special session.

The Iraqi parliament has recessed without approving an amendment to the budget law, which is related to the export of oil from the Kurdistan Region, the issue is awaiting a special session of parliament before the end of the year or in 2025.

The Finance Committee's report on the amendment has not reached the final draft, especially on issues related to the deadline for implementation of the changes for which the amendment is made.

After a month of extension, on December 8, 2024, the second legislative session of this year's Iraqi parliament ended, while the amendment to the general budget law stopped in the second reading, which is the pre-voting stage.

"The amendment will be decided after December 9 2024, either when parliament sessions resume, or the presidency can pass it by convening a special session," Dara Sekaniani, a member of the parliament's legal committee, told Rudaw.

The amendment is based on a decision of the Iraqi Council of Ministers issued on November 5.

According to the amendment, within 60 days after the amendment comes into force, the Federal Oil Ministry in agreement with the Ministry of Natural Resources of the Kurdistan Region, an international technical advisory body to determine the estimated price of oil production and transportation.

Jamal Kochar, a member of the Iraqi parliament's finance committee, told Rudaw that the committee's report is awaiting comments.

According to the member of the Finance Committee, there are several comments that may be added to the amendment related to the deadline for taking several steps, including if Erbil and Baghdad do not agree on the consultative side, how long the government has to do it on their behalf, and the period during which the advisory committee determines the estimated price of oil production and transportation.

According to the Iraqi Council of Ministers, until the advisory committee completes its work, the production and transportation of oil in the Kurdistan Region will be calculated at $16 per barrel, then based on the estimated price of the money spent on oil production and transportation.

"The comments will be put to a vote along with the draft sent by the government to amend the law," Kochar said.

The Iraqi budget law obliges the Kurdistan Region to deliver 400,000 barrels of oil per day to Baghdad as one of the conditions for sending its share of the budget, including wages of companies that have not been paid since the approval of the 2023 budget law.

[theythinkitsallover] 10/12/2024 13:59

"The amendment will be decided after December 9, 2025, when parliament sessions resume, or the presidency can pass it by convening a special session," Dara Sekaniani, a member of the parliament's legal committee, told Rudaw.

[hsflegal] 10/12/2024 12:53

They bought 5,700,000 at 139.80
Cancelled them
Concentrated the share capital
Now they have more cash -less shares in issue - and are not buying any LOL.
This is tactics
I would expect corporate move imminently

[shortsqueezer] 10/12/2024 12:41

My guess is that the deadline will be extended until the final agreement is fully in place. Still time for games to be played yet. Potential divi income must be stacking up by now though.

[gc3211] 10/12/2024 12:24

Still plenty of buyback left if needed. If not needed a dividend would be welcome. I'd rather be buying back the shares with dividend money. Not that many working days left to exercise the buybacks

[hsflegal] 10/12/2024 12:20

Ops and Corporate any day now.....

[redbed] 10/12/2024 10:53

It doesn't matter, gkp is sold TBAThat has been obvious for months