Gulf Keystone Petroleum is an independent oil and gas exploration and production company. It was founded in 2001 by UAE, Kuwaiti, Saudi and US private equity. It is now operated in the Kurdistan Region of Iraq.
So the Kurds appear to have the legal edge? Meanwhile the politics in Baghdad might change in a heartbeat in the Kurds favor.
International jurisdiction applys as the oil belongs to Iraq Kuridstan, It should be dealt with in Iraq. Sense says keep oil in then US, that saves around $75,000 a day as that tanker is running up a huge bill sitting there. The two partys turn up in court and sort it out in Iraq or arbitration , but that cant be the US as Iraq is not a signatory to US New York Convention. Iraq and Kurdistan would have to agree to the case be heard in the US and then it would be based on what argument..The KRG should accept having the oil stored in the US till the case is heard in Baghdad, they have nothing to lose that way if everything they do is legal? If they are that certain, then save the oil tanker fees atleast.
Well , if thats your contribution. Congrats.
Can you boil it down for us all?
with acouple of dragonflys should do the trick,,,,,,,,,,,,,,,,,,,, what a load of ???????????????????
Apologies KK adendum
Should have read a PSA case involving Kurdistan IOC's has not ever been heard ruled on in a IRAQ or Kurdistan court of law ..Alll cases go to London Arbitration, but then the ruling is not binding as I said due to Iraq not being a signatory New York Covention, but IRAQ Kurdistan IS COVERED under the Riyadh Convention, but the Riyadh convention wont enforce against Governments, but the KRG MNR is what , is it a full government under international law? It just needs the KRG to get rid of Hawrami and the Iraq to change its oil ministers . Who to replace them with though is another question, maybe mickey mouse and donald duck as they could not do any worse
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