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Seems real progress on resumption of oil exports being made with Erdogan's visit only weeks away. We can expect news on agreements with IOCs before then.... importantly, they are discussing payment of debts owed to IOCs.
https://twitter.com/john78846295/status/1769447320947495259?s=19
Crude stays above $80 and highly likely to rise further.
https://www.cnbc.com/2024/03/17/crude-oil-showing-signs-of-a-breakout-as-it-tops-80-what-traders-say-happens-next.html
Russian supply being reduced involutory by Ukraine, following new strategy to blow up Russian refiners , with 3 hit overnight. Clearly aimed at distillation towers so it makes good propaganda footage. A way of stopping a refinery from operating but not the best way, as it can be repaired in a couple of months.
This was all agreed months ago.
SOMO markets Iraq’s oil.
Tribals just biscuiting to get their rightfull private shares.
The ministry's spokesperson Asim Jihad told Shafaq News Agency that "technical committees are working between Baghdad and Erbil to finalize a transparent agreement between the two parties to end the disputes regarding the export of oil from KRI after its cessation."
Jihad added that these committees "discuss export mechanisms and related matters, including financial entitlements resulting from oil sales, as well as the rights of oil companies that have entered into partnership contracts with the Regional Government (KRG). By resolving these issues and reaching a comprehensive agreement, oil exports will resume."
Discuss export mechanisms and related matters, including financial entitlements resulting from oil sales, as well as the rights of oil companies that have entered into partnership contracts with the Regional Government (KRG). By resolving these issues and reaching a comprehensive agreement, oil exports will resume."
Https://shafaq.com/en/Economy/Iraq-reveals-developments-in-resuming-oil-export-via-Turkey
That $82m-$86m is better sat on the Balance Sheet right now.
Not given away as capital returns, whether it's in the form of dividends or a $25m buyback sop to shareholders for their suffering.
That money will be needed (and a lot more) to restart Capex once this issue is resolved and the self-funding plan is re-ignited, as the Board still believes.
Because the basic field development model demands up front investment before cost recovery. Whatever form it may take when renegotiated.
There's plenty of time for shareholder appreciation via capital returns later, once some kind of normal service is resumed.
But not now.
Point was it's better to preserve the cash given the ongoing lies and shenanigans, and no certainty over local sales.
Been saying for some time that personal greed was behind the closure.
Like taking candy from their own population (and us naive little oilers).
Looks to me Barzani is doing just fine stitching up the IOCs in Kurdistan!!
He probably likes the pipeline closed while making $40 a barrel of everyone.
Eventually this has to stop because his country is about to implode on itself very soon.
Does he care probably not and we all thought things were improving 🤔.
To much thieving and lies by all.
I think you’ve hit that nail on the head … 165-195 incoming this year !!
Next week, fireworks!
Great news there ‘ponzi :)…… 190s sounds very OK to me !
Haha. The 00k was a mate of mine. In small.
I'm here don't worry !!
Will we see 90s next week ?? Absolutely we will
113 to breakout of this quagmire
Purchase of 100k 2.15 pm followed by sharp increase. Personally I wouldn’t spend 107 k without knowing something. If I had 107k to spare.
Not much chance of a post from Itzaponsi today.
It's happening fellas, everybody onboard?
A potential breakthrough right here. Lets up Erdogan turns up this time and isn't weakened after last weeks announcement he's steeping down at the next election.
'Ankara has long been pressing Baghdad to designate the armed group a terrorist organization. But the central Iraqi government has deemed Turkey’s operations against the group and its military outposts in the Iraqi territory as a violation of its sovereignty.
Thursday's move indicates that the two countries’ positions on the issue are becoming more aligned as preparations are underway for Turkish President Recep Tayyip Erdogan’s upcoming visit to the country in April. The Turkish leader’s visit will mark the first of its kind for more than a decade.
“The parties stressed the importance of Iraq’s political unity, sovereignty, and territorial integrity,” Thursday’s statement said. “They have also stressed that the PKK constitutes a security threat for both Turkey and Iraq.”
"Surprised at you putup.
With zero visibility for sales you want a buyback?!"
Yep. No need for $82 million to sit on the balance sheet and a great time to mop up the free float. A dividend doesn't do that. Most divi recipients reduce their value at work by banking the dividend.
Meanwhile, Build a new pipe (they will assume the AKIPUR consortium will pay for it) - while the tribals agonise over how they will divi up the spoils from the free oil we gift them.
That’s how crazy this has become.
@Armas, there is a counter argument about the message that might end up being sent.
One problem with dividends is that it allows investors to take the cash and not re-invest it in the company.
The message that sends is that even holders think there is better value to be had elsewhere and they want non-holders to do the buying and drive the ex-div price back up.
If that doesn’t happen the total return from the dividend distribution could end up neutral, the income gain is offset by the capital loss of it going ex-div..
The buyback requires those who want to take their cash distribution out to actively do something I.e. sell a proportion of their increased % holding in the company. Given that many, if not all, of the LTH have demonstrated an unwillingness to sell at any stage, then that should boost the effect of the buyback.
Yes that would be brilliant, while we either wait for the crude export pipe to flow or existing contract expire. would inject new life and capital into this stock for sure. 18 months is not long in investment terms, especially if being sweetened by that scale of reward.
A buyback?? Give a dividend if you want to send a message. 25ml. And plan that per annum, ie 10 percent
Surprised at you putup.
With zero visibility for sales you want a buyback?!