Member Info for HGNAHMED

Here’s why KRG and International Oil Companies in the Kurdistan Region are in no hurry to restart exports—and why this moment offers them maximum leverage:

https://thenationalcontext.com/why-international-oil-companies-are-in-no-rush-to-resume-krg-oil-exports/

"We are ready to resume exports upon reaching agreements with the Government of Iraq and Kurdistan Regional Government. Protecting our rights and investments is essential," the statement added.

https://www.kurdistan24.net/en/story/833210/apikur-urges-swift-resumption-of-kurdistan-region-oil-exports

24. Contingent Liabilities

The Group has a contingent liability of $27.3 million (2023: $27.3 million) in relation to the proceeds from the sale

of test production in the period prior to the approval of the original Shaikan Field Development Plan (“FDP”) in

June 2013. The Shaikan PSC does not appear to address expressly any party’s rights to this pre-FDP petroleum.

The sales were made based on sales contracts with domestic offtakers which were approved by the KRG. The

Group believes that the receipts from these sales of pre-FDP petroleum are for the account of the Contractor,

rather than the KRG and accordingly recorded them as test revenue in prior years. However, the KRG has

requested a repayment of these amounts and the Group is involved in negotiations to resolve this matter. The

Group has received external legal advice and continues to maintain that pre-FDP petroleum receipts are for the

account of the Contractor. This contingent liability forms part of the Shaikan PSC amendment negotiations and it

is likely that it will be resolved as part of those negotiations

https://wp-gulfkeystone-2020.s3.eu-west-2.amazonaws.com/media/2025/03/GKP-FY-24-results-RNS-vf-website.pdf

Https://x.com/GoodnightCharl1/status/1907001506747879431

The new consulate in Erbil is a symbol of the growing US commitment to the Kurdistan Region’s stability and future, marking a significant step forward in strengthening diplomatic and economic ties with the Kurdistan Region.

https://www.kurdistan24.net/en/story/832701/us-to-open-largest-consulate-in-erbil-strengthening-diplomatic-ties

Https://x.com/ParetoSec/status/1906647710670712999

Https://x.com/apikur_oil/status/1905721045862228210

ERBIL (Kurdistan 24) – The Association of the Petroleum Industry of Kurdistan (APIKUR) has expressed strong dissatisfaction with the Iraqi Ministry of Oil’s handling of negotiations regarding oil exports through the Iraq-Turkey pipeline, accusing Baghdad of attempting to unilaterally alter legally binding contracts.

International oil companies (IOCs) operating in the Kurdistan Region, in coordination with the Kurdistan Regional Government (KRG), have engaged in negotiations with the Government of Iraq (GOI)—including direct discussions with Prime Minister Mohammed Shia' al-Sudani’s office—to reach a resolution for resuming exports in line with legal agreements and Iraq’s budget law.

However, APIKUR announced that Iraq’s Oil Ministry has shown an unwillingness to negotiate a solution that respects the sanctity of contracts signed between IOCs and the KRG. Instead, the ministry is reportedly working to establish a unilateral framework that would alter the economic terms of these valid agreements.

https://www.kurdistan24.net/en/story/832224/apikur-rejects-iraqs-oil-ministry-approach-refuses-to-resume-exports

Reuters reports that negotiations between Baghdad and int’l oil companies operating in Kurdistan have stalled due to ambiguity surrounding payments and contract terms. APIKUR has deemed the Iraqi oil ministry’ moves ‘unacceptable’.

https://x.com/KurdistanWatch/status/1905738687868199127

In their statement, the British government ministries emphasized that London supports the immediate re-export of Kurdish oil and believes that financial cooperation between Erbil and Baghdad must be prioritized to ensure stability and fairness across Iraq.

https://www.kurdistan24.net/en/story/832091/uk-urges-restart-of-kurdistan-oil-exports-calls-for-baghdad-erbil-deal

Throughout this year, no oil-related financial records have been registered with the Ministry of Finance or the General Treasury, Hama Saleh says. As a result, the government’s documented oil revenue stands at zero. Meanwhile, the private companies involved are reportedly generating profits in the hundreds of millions of dollars

https://x.com/KurdistanWatch/status/1904630092334325957

Iraq’s Oil Ministry announced an imminent deal with BP to boost production in Kirkuk, raising concern in Erbil over the lack of consultation with KRG, especially given Kirkuk’s status as a Kurdistani territory outside the Region’s administrative control

However, the unilateral nature of this agreement—reached without consultation or coordination with the KRG—has sparked renewed concerns in Erbil, particularly given the sensitive status of Kirkuk. The oil-rich province is one of the Kurdistani territories outside the KRG’s administrative control, yet it remains central to Kurdish claims under Article 140 of the Iraqi Constitution, which calls for normalization, a census, and a referendum to determine its final status.

https://www.kurdistan24.net/en/story/831297/iraq-plans-6m-bpd-oil-boost-by-2029

MP Sabah Sobhi confirmed that key issues, including processing fees, debt resolution, and export quotas, are being addressed.

https://x.com/AlaliQasem/status/1903574395165012200

ERBIL — Oil exports from the Kurdistan Region are expected to resume later this week, according to a member of Iraq’s parliamentary oil and gas committee.

Sobhi confirmed that negotiations are ongoing and that both parties aim to finalize an agreement and resume exports this week, highlighting strong pressure from international actors, especially the United States.

“Major powers, especially the US, are pushing strongly for a resumption of oil exports from the Kurdistan Region, which is why a final agreement is expected this week,” he said.

https://www.basnews.com/en/babat/878749

ERBIL, Kurdistan Region - Kurdistan Region Prime Minister Masrour Barzani had a phone call with United States National Security Advisor Michael Waltz on Friday to discuss resuming Kurdish oil exports and speeding up formation of the regional government, five months after the vote.

The two “reaffirmed the need to resume oil exports from the Kurdistan Region as soon as possible” and “agreed on the need for a new KRG cabinet to be formed as soon as possible,” read a statement from the Kurdistan Regional Government (KRG).

https://www.rudaw.net/english/kurdistan/21032025

"As we execute against delivering our annual guidance, we continue to actively pursue a solution to restart the export of our crude to international markets via the ITP, with a number of recent meetings between the IOCs, KRG and FGI, in which Gulf Keystone has played an active role. As we approach the two-year anniversary of the ITP’s closure on 25 March 2025, we remain hopeful that we are now nearing a solution"😍

"We continue to believe a return to international exports with the right agreements in place regarding payment surety, receivables repayment and the preservation of our contractual rights would be transformative for the Company, Kurdistan and Iraq, both in unlocking additional revenue from a vital source of global oil supply which is currently selling for significantly discounted prices but also by signalling that Kurdistan and Iraq are open for business and are attractive destinations for foreign investment".

https://www.londonstockexchange.com/news-article/GKP/2024-full-year-results-announcement/16949539

Myles Caggins has commented:

No final agreements yet.

https://x.com/MylesCaggins/status/1902372346117140804

Key words:

FINAL AGREEMENT and

YET

🚨 #BREAKING: Kurdistan’s Oil Exports to Resume Next Week

📌 Habat al-Halbusi, head of Iraq’s Parliamentary Oil & Energy Committee, has announced that oil exports from the Kurdistan Region will resume next week.

📌 The announcement follows a joint meeting between the Oil & Energy Committee, Iraq’s Oil Ministry, and the State Organization for Marketing Oil (SOMO).

📌 Further details on the terms of the agreement and financial arrangements are expected to emerge in the coming days.

https://x.com/AlaliQasem/status/1902365762821456347

#BREAKING: Oil exports from the Kurdistan Region will resume next week, announces Habat al-Halbusi, head of the parliamentary Oil and Energy Committee, following a joint meeting between the committee, Iraq’s Oil Ministry, and the State Organization for Marketing Oil (SOMO).

https://x.com/zoomnewskrd/status/1902364464273318391

During today’s parliamentary meeting, Apikor reportedly emphasized that all past dues for oil production must be settled, stating that over $1 billion in outstanding payments must be recovered from both the Kurdistan Regional Government and Iraq’s federal government before moving forward.

https://x.com/AlaliQasem