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Caggins\AKIPUR need to inform the ICG that the IOCs (operating under what they deam
to be illegal contracts) have not been paid according to these illegal contracts, and that it is strongly rumoured that the oil being forwarded to Kurdish agents is in turn being sold onwards to sanction breaking countries.
AKIPUR members wish then to have no part in such dealings, and elect to be removed from these illegal contracts.
Can the KRG make the case that Baghdad owes them $15b on account of blocking the oil? SOMO may have the right to sell the oil but it's still Kurd oil and so has to be accounted for.
I’ve not noticed it above but the APIKUR website has a running total, updated every second.
“CUMULATIVE LOSSES TO IRAQ DUE TO THE SHUTDOWN OF THE OIL EXPORT PIPELINE TO TURKEY USD: 15,189,884,829”
https://www.apikur.uk/publications/
I think its important to put a worst case timeline in it TSSZ, for investment /reward purposes. For me that timeline stands at about 16 months, when the current export pipeline to Turkey expires. Then the KRG/ TURKEY and the IOC's can make another and start exporting.
As the company has got its head above water with steady income, its pretty safe in the foreseeable, so I look upon things as a locked in 18month bond/investment with returns at that time much better than I can get elsewhere. That's without any agreement in the meantime. THE IOC's and KRG both know this and I believe its one reason why they are playing hardball.
GKP has now become nothing more than a Pump and Dump share, PI’s need to hold on and be Patient, the problem is really for how long, another year another 3 years
Who knows anymore
Hello Itsaponzi,
1. I see no mention of GKP in the artical, where do they sit in precived "culpability" in this?
2. I suppose the question to be asked now is, with Erdogans visit concluded to bother Iraq and Kurdestan: If Turkey has completed (TBC of course) the visits highlighted focus discussions regarding security and actions against the PKK /Turkeys incursion into Iraqi (Kurdish) territories, water and oil, if the first two have achieved an accord would Turkey have been given favourable terms to receive oil via the planned restart of the Kirkuk–Ceyhan Oil Pipeline and asked not to take anything from the Kurds?
Note: I read on a post that the Iraqi oil is not what the Turkish are currently set up to process? (Not sure how accurate this is)
BUT
The Kurdish goverment must get something from such iraq and Turkey and what support do the PKK get from the the incumbent Kurdish goverment currently.
If they do not the Iran would be the only beneficiary?
Rgds Sft
"In the meantime, the KRG will continue to embrace and promote the rule of law. The KRG will safeguard the integrity, independence, and constitutional jurisdiction of the courts of the Kurdistan Region. The 2007 KRG Oil and Gas Law, and all KRG laws, remain in full force. The KRG will, as always, protect the 2005 Constitution, uphold the 2007 law, and adhere to the terms of contracts entered into in accordance with that law."
Emmmm....could the KRG please, pretty pretty please, point to us disenfranchised shareholders to which Kurdish "Court!?" the struggling IOCs working in Turdistan can refer to in order there dues paid and the contracts signed enforced?????🤔🤨
"Yes the ministry of oil is saying they are ready for export. ", but the question I have is, will the export Kurdish oil or other Iraqi oil? Because last week(s) there were news reporting works on the segment of the pipeline that avoids the control of the KRG.
Had the Itsaponzi’s on this board taken any notice they would have witnessed two recent trades that I posted in advance and live as they happened, two profitable trades that have contrasted with ‘birdbrains’ 90p predictions that have thus far been tripe.
While I don’t see 90p short term myself it would be nice because that price for a share in a cash positive profitable GKP is the volatility that traders thrive upon. So if anyone out there would like to sell @ 90p or less do so when, for once birdbrain might be right, I for one will probably be buying at that price.
This is worrisome, could you share the source, please? I decided to sell this morning. It is bad enough that the pipeline is shut down, I don't want to be exposed to a possible fine/scandal of international oil smuggling and, potentially, briving to local or custom authorities, which is something that oil countries take very seriously.
I like the tone - not sure how helpful it will be, but very assertive. Seems like they feel they're in a corner and need to come out fighting.
"While the MOI publicly refers to that committee as the “Federal Supreme Court”, everyone knows that it is no such thing."
"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."
Translation (?): we've sought legal opinion and feel confident in our case if sent to international arbitration.
Reminds me of this recent article (April 1st, KDP author)
hxxps:// www. washingtoninstitute. org/policy-analysis/federal-supreme-courts-role-iraqs-eroding-democracy
Do you think these initial manuvours for a upcoming legal battle in international courts?
This is now just pathetic and they are acting like children... the situation favours no one. Make a deal and compromise on both sides and get that oil flowing..... the world needs it
In quoting Saddam Hussain the KRG are being pretty confrontational, I wonder if they've ran out of patience on the nicely nicely diplomatic route, also wonder what the next moves will be, independent trucking?
' It's like you love to fight windmills, straw ones at that.'
That Don Quixote analogy would have worked much better if you'd tied it to the actual quote, which was 'tilting at windmills' not 'fighting' them.
And I don't know about the reference to 'straw'; not sure Cervantes ever mentioned that!!
Funny though, on several levels, some at your expense.
From the KRG MNR website published yesterday.
https://gov.krd/mnr-en/activities/news-and-press-releases/2024/april/statement-by-the-ministry-of-natural-resources-of-krg/
Nothing has failed.
This is how politics works.
By all means sell.
Numskulls.
Things could change at any moment.
114p and dropping all gains wiped out from yesterday!! GKP never let's you down 90s incoming now .
And down we go again, pump n dump
Turkey tried the goodwill gesture last summer, by opening up the water flows so Iraq could have plenty of water, costing Turkey electricity production and expecting the return of that "goodwill", in crude oil flows.
Iraq gave them nothing, so gesture wont be repeated.
Yes the ministry of oil is saying they are ready for export.
They will most certainly allow free export, whereas the oil companies will not get paid anything at all. The IOC's took all the exploration risk with no infrastructure unlike the known easy oil in Iraq, where in many cases it was already producing and access was good. And Iraq thinks it can pay them exactly the same.???, and rip up existing solid contracts.
I also would like your house and car, but I wont give you anything for them?
Iraqi Government Spokesman Bassem Awadi:
- Companies with existing contracts with the KRG must transfer those contracts to the Iraqi Ministry of Oil.
- The issue of KRG oil exports has already been resolved and agreed upon with Turkey, so an agreement between the KRG and the Iraqi government should be reached too.
@KurdishFrontNews
Source: hxxps :// t. me/ KurdishFrontNews/7183
Dated yesterday afternoon.
The Erdogan visit to Eribl, which was the catalyst many had waited for as milestone for when export could move again, failed completely. Back to square one again.
I think the next meaningful milestone to watch for is announcements from APIKUR/IOCs/GKP.
Baghdad oil minister is on record requesting oil, "we're ready for export", etc. I don't see them doing anything else on this matter.
KRG government making noises but essentially impotent at this stage. I don't see how they can do anything more here.
Ball is in IOC/APIKUR court...
Wait 15 months /or/ arbitration /or/ hurry up and sign new contracts (maybe concurrently pursuing KRG for monies owed through courts).
Therefore, I think the next time we hear anything meaningful will be from IOCs/APIKUR. Hopefully an update will come soon.
This stock does surprise, so I would not do for a huge retrace.
In Europe out means out, in Iraq no agreement means no agreement yesterday.
Also the Arab culture is completely different to ours. For example we saw the same old delaying tactics used yesterday, but pointedly no agreement for more water either. They could be totally at loggerheads one day and about to have a military conflict, the next following a brief small slipping in of a "arrangement envelope", best of friends and saying he wants you to to marry his daughter.
Belgrano that’s heavy.
When I first purchased GKP shortly after the pipe closure I knew next to nothing about Middle Eastern values and politics. No after all of this time and the advice of many including the sensible post that you and some post. I can confidently say that I know and understand far less.