Gulf Keystone Petroleum: Kurds owed for oil milestone

Desperate for cash, company says it’s owes $10 million after reaching production milestone.

Gulf Keystone Petroleum said it’s owed a bonus payment for reaching a production milestone at the Shaikan oil field in the Kurdish north of Iraq. Photo courtesy of Gulf Keystone Petroleum.

LONDON, July 1 (UPI) — The Kurdish government of Iraq is due a bonus because of a production milestone at a northern Iraqi oil field, Gulf Keystone Petroleum said.

Gulf Keystone Petroleum, an Iraqi-focused company that lists headquarters in London, said cumulative production at its Shaikan oil field reached 25 million barrels.

“In line with the terms of the Shaikan production sharing contract, a production bonus in the amount of $10 million is due to be paid to the Kurdistan Regional Government’s Ministry of Natural Resources,” the company said in a statement.

In a note to shareholders in April, the company said it ended 2015 with an average daily production rate of 36,000 barrels of oil per day at Shaikan and the field is now on pace to reach 55,000 bpd potentially.

“To get to the next stage requires additional investment, so our priority is to strengthen the balance sheet to allow this forward move,” CEO Jon Ferrier said in a statement issued at the time.

The company estimated reaching the new target would require capital expenditures of between $71 million and $88 million, which Ferrier said was contingent upon regular payments for exports from the Kurdish government and available finances.

This week, the company said it received an $8 million payment for the crude oil it exported from the Shaikan field in May, which was a partial payment of the invoiced amount. At the end of April, the company said it reached a deal with a committee of holders of notes and bonds to enter into a “standstill agreement” on interest payments for April.

The terms of that agreement expire Friday.

Gulf Keystone Petroleum last year said it was looking for partners or potential buyers as part of a long-term strategic review.

http://www.upi.com/Business_News/Energy-Industry/2016/07/01/Gulf-Keystone-Petroleum-Kurds-owed-for-oil-milestone/2311467365477/

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“Details” instructions issued by the Prime Minister in the wake of the bombings in Baghdad

 

04-07-2016 02:26 AM

 

General Commander of the Armed Forces, Haider al-Abadi Prime Minister issued orders in order to enhance security in Baghdad and the provinces against the backdrop of the terrorist bombing that targeted the Karrada district on Saturday night and killed more than 270 people were killed or wounded.

A statement by his office, said Abadi issued orders, namely:
1. All the security agencies to withdraw detect explosives handheld devices manually [iDEN] of checkpoints and the Ministry of Interior to reopen the investigation of corruption in deals for these devices and the prosecution of all those who contributed to it.
2. The Ministry of Interior to speed up the monument Rabiskan devices to detect vehicles at all entrances of Baghdad and secure the entrances to the provinces.
3. The Baghdad Operations Command to speed up the completion and delivery of the Baghdad security belt to take advantage of the potential of the defense ministry and other ministries, honesty and the province of Baghdad.
4. The Joint Special Operations Command to intensify aerial reconnaissance and intelligence effort over the capital and surrounding areas to detect kegs terrorism.
5. It is strictly forbidden to use a mobile device by the security forces at checkpoints and security services regulators are pursuing it.
6. On the Baghdad Operations Command and other operations leaders and security forces to reorganize the security checkpoints and barriers, thus alleviating the citizens and deter the use of troops backed by hard intelligence.
7. be responsible for the security cutouts distribution of coordination between the leaderships of operations and the Ministry of Interior and National Security and the intelligence and security committees in the provinces to create a state of integration between them away from conflicts.

Abadi mourning year as announced in Iraq on the victims of the bombing.

In turn, it announced that the Baghdad Operations Command, pull the hand off and the intelligence cell responsible for the security of the Karrada district boycotted after the bombing witnessed in the region yesterday.

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Jubouri appreciates the prime minister procedures and calls on all security institutions to assume its responsibilities in maintaining the security of the citizen

 

04-07-2016 02:36 AM

 

Eighth Parliament Speaker Salim al-Jubouri, procedures and orders issued by the commander of the armed forces, Prime Minister Haider al-Abadi on Sunday evening, to enhance the security of the capital Baghdad and Mahafeztaat after the bombing of the Karrada district, which killed dozens of civilians.

A statement by his office, al-Jubouri that ‘the price of the procedural steps taken by the prime minister today after his visit to the site targeting terror suffered by the Karrada district earlier that, including the withdrawal of explosives detection devices’.

He added that the President of the Parliament ‘to deal with the speed of events by the government indicates the perceived seriousness of the stage, and weakens the chances of recurrence of terrorism in its targeting of unarmed citizens. “
Jubouri called ‘security institutions to fully assume its responsibilities in maintaining the security of the citizen and to hold accountable all Shortened elements’.

This came in the wake of the terrorist act, which was adopted by Daash bands of a suicide bomber detonated explosives in Karrada, killing and wounding hundreds.

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Ban Ki-moon condemned the bombing of Karrada government calls to bring the perpetrators to justice

 

 

History of edits:: 07/03/2016 22:1882 visits readable
[Oan- Baghdad]
condemned the UN Secretary – General Ban Ki – moon, the terrorist bombing in the Karrada district of central Baghdad and claimed the lives of dozens of martyrs and wounded.
A spokesman for the secretary – general said in a statement that Ki – moon , “he said of a total disregard forhuman life displayed by the perpetrators, who were beaten at the time , who is preparing the population for the celebration of Eid al – Fitr.”
He Ki – moon , according to his spokesman , “expressed deep sympathy and condolences to the victims ‘families and to the government and people of Iraq “hoping” for the injured a speedy recovery. ” He
also appealed to the Secretary General of the United Nations , ” the Iraqi people to reject any attempts to spread fear and undermine the unity of the country , “calling at the same time , ” the Iraqi government to ensure that the perpetrators of this horrible crime are brought to justice as soon as possible. ”
the suicide car bomb exploded late Saturday night district of Karrada in central Baghdad have killed and wounded dozens of civilians as well as the burning of a number of shops near the scene and cars.
adopted terrorist Daash gangs claimed responsibility for the suicide bombing.
security sources said the number of victims of the bombing reached 125 martyrs and wounded 147 wounded.
and lose the Prime Minister Haider al – Abadi Sunday morning blast site , “vowing to ” punishment of terrorist factions by the bombing , where it and after it was crushed on the battlefield the bombings an attempt desperate. ”
as Abadi mourning declared General in Iraq , the victims of the bombing, and issued orders to beef upsecurity in Baghdad and the provinces.
announced that the Baghdad operations command, pull the hand off and the intelligence cell responsible for the security of the Karrada district boycotted after the bombing witnessed in the region yesterday.

Parliamentary security questioning ministers and security chiefs maiden parliamentary sessions about the bombing of Karrada

 

History of edits:: 07/03/2016 23:37161 visits readable
[Oan- Baghdad]
for the security and defense committee parliamentary announced the completed request to question ministers and security commanders which will be submitted in the first session of the third legislative term on 12 July ofthis against the backdrop of the terrorist bombing witnessed in the Karrada district of central Baghdad.
According to a statement of the commission received by all of Iraq [where] a copy of it, that ” the repeated Alakhvavat serious , and the recent tragedy of Karrada City security Aantekasat dawn today, necessitated accountability and interior and defense ministers and the leaders of the security and intelligence and information devices to determine the causes of the deteriorating security situation in the capital Baghdad and other Iraqi provinces . ” .
He stressed that “it is not justified the continued shedding and shed the blood of innocent citizens and threaten the security and stability after the victories achieved by the Champions of the armed forces and thepopular crowd and volunteers clans and defeated gangs Daash and dimensions of the menace from the edge of the capital , Baghdad.”
He stressed the statement of the security and defense committee parliamentary, ” the need for disclosure the reasons for the security failure and hold negligent, offering accomplices and collaborators with terror gangs from within the security services and information to the military courts, and the exclusion of the leaders and commanders of losers and defeatists. ”
She called the” commander in chief of the armed forces [Prime Minister Haider al – Abadi] to take responsibility for his choices of ministers and security leaders who proved their failure in the security management and file information in the country, and order him to re – evaluate and assess and structure ofsecurity services and information and intelligence , and intelligence, according to professional standards and national loyalty of Iraq away from partisan considerations and self – interest or political. ”
It was a suicide car bomber exploded late Saturday night district of Karrada in central Baghdad have killed and wounded dozens of civilians as well as the burning of a number of shops near the scene and cars.
adopted terrorist Daash gangs claimed responsibility for the suicide bombing.
security sources said that the number of victims of the bombing reached 125 martyrs and wounded 147 wounded.
and lose the Prime Minister Haider al – Abadi morning Sunday the blast site , “vowing to ” punishment of terrorist factions by the bombing , where it and after it was crushed on the battlefield the bombings anattempt desperate. ”
as Abadi mourning General announced in Iraq on the victims of the bombing, and issued orders to beef upsecurity in Baghdad and the provinces.

 

Urgent Prime Minister associate prevents the use of mobile phones and the reorganization ofcheckpoints

 

History of edits:: 07/03/2016 21:44210 visits readable
[Oan- Baghdad]
Commander in Chief of the Armed Forces ordered Prime Minister Haider al – Abadi, prevent the use of amobile device by the security forces at checkpoints strictly prohibited security services regulatory and follows up on that.
It also ordered Abadi “Baghdad Operations Command and other operations leaders and security forces to re-organize the security checkpoints and barriers, thus alleviating the citizens and deter the use of troops backed by hard intelligence” follow ..