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It’s promising that the Turks and Iraqis are still talking. Personally I have no doubt that a resolution will be found we just need to be patient.
Hopefully a positive reaction from the market on Erdogan words. I very much doubt he was telling the truth but it shows even the Turks need the pipeline opening.
ATB and DYOR
https://shafaq.com/amp/en/Economy/Turkish-Delegation-to-Visit-Iraq-for-Talks-on-Resuming-Kurdistan-s-Oil-Export
More clueless claptrap, stop reading Russian state media, it’s run by Putin’s flunkies and prints what he tells them…..lies. This board is for discussions on GKP and other related issues, if you want to peddle juvenile propaganda on behalf of a murderous war criminal, head over to telegram.
By the way are you aware USA have 2,000 military stranded in North Syria whose sole purpose has been to steal Syrian oil and transport it to kurdistan where it was sent down the Ceyhan pipeline?
Did you know that?
Anyone expecting payment before oil is produced is dreaming in my view. Oh I wish that dream would come true but I wouldn't count on it - in fact I'd bet against it. I'd expect the $154 million or so of receivables to be collected - at best - over the next couple of years.
Roger exactly what he's done is remove ISIS as the farce it was, saved their leader Assad from Gaddafi and Saddam's fate, secured Russian interests, taken over western oil fields, including Gulfsands which I had lots of money in. And stopped the Western globalist expansion
So far so good, but after so long and so many false dawns I’ll wait until the oil actually flows before I’ll believe another local politician’s word.
Arm, Same old Sane old. Exactly what has your friend Putin done in Syria in cahoots with Assad other than murder innocent people and destroy their own country in the pursuit of personal power beyond contest, as in Iran where brave people that dare to protest are hung in there hundreds.
Fortunately Iraq seem to be pragmatic in their pursuit of western investment, which as Erdogan has discovered, is far more reliable than your favoured Russian kind.
In short, an idiotic post as usual.
More importantly is when the oil companies get a payment!! They shouldn't start any production until at least one payment has been made to all concerned because their monthly costs will triple when production starts.
Gkp in 3 to 4 months without a payment will be skint and owed well over $200m and going out of business.
Iraq /Krg should make a minimum of $50m for good will they start ramping up production to 55kbopd.
Looking more likely the pipeline will be opening any day and could even be this weekend, once open and payments start expect rally to 200p plus dividends
Sounding good, whatever face saving stance anyone takes doesn't matter if Erogen is opening the door to oil flowing.
Not a confidence booster. Sane old same old. This is how it would look if Turkey and Iraq were in cahoots to oust Western Oil companies. Conspiring with Putin and Qi to allow them come in after and do exactly what they've proven they can do in Syria.
Just saying, that's the optics
Hi Thij,
That sounds rather hollow as all the evidence is that Turkey isolated the export pipeline. Either false of trying to shift blame to save face, if its the latter its good as it could mean we are going to see a resolution. As Iraq has requested that flows restart while talks are going as act of faith...that makes sense to me.
Https://twitter.com/staunovo/status/1679150616231256066?s=20
Stop in oil exports from #Iraq to #Turkey is something that originates entirely in a problem between Iraq's central administration and Kurdish administration. Our position is already to open the oil pipelines the moment they overcome it - Turkish President Erdogan
#oott
If this includes Kurdistan oil then this is brilliant, another avenue
https://www.newarab.com/news/iraq-pay-iranian-gas-imports-oil-pm?amp
Just read some of your posts on TGA, “endless comment diarrhoea”, pan calling kettle black me thinks.
A lot more confidence been shown here, if payments turn out to be more reliable than before this break would have been well worth it
2023-07-12 14:09
Font
Shafaq News/ A Turkish energy delegation will meet oil officials in Iraq and the Kurdistan region to discuss the resumption of Iraq's northern oil exports, the region's minister of natural resources, Kamal Muhammad Saleh, revealed on Wednesday.
Turkey halted Iraq’s 450,000 barrels per day (bpd) of northern exports through the Iraq-Turkey pipeline on March 25 after an arbitration ruling by the International Chamber of Commerce (ICC).
The ICC ordered Turkey to pay Baghdad damages of $1.5 billion for unauthorized exports by the Kurdistan Regional Government (KRG) between 2014 and 2018.
The 80 days halt has cost the Kurdistan Regional Government (KRG) over $2 billion, Reuters calculations found.
The crude oil pipeline runs from the semi-autonomous Kurdistan region in northern Iraq to the Turkish port of Ceyhan, and the KRG began exporting crude independently from Iraq's federal government in 2013, a move Baghdad deemed illegal.
"Baghdad and Erbil have completed the preparations to resume oil pumping from Kurdistan," he said, "the decision to proceed, however, is contingent on Ankara and Baghdad having an agreement."
Attempts to restart the pipeline were delayed by Turkey's presidential elections last month and discussions between Iraq's state-owned marketer SOMO and the KRG over an export deal, which has now been reached.
On June 19, a Turkish delegation visited Iraq to discuss the matter but failed to reach common ground.
Superb!
(Stock is still range-trading. Weak support at circa 112 and resistance at 130p. Still no news of any substance.)
I think there has been a lot of positivity about the pipeline and things are pointing in the right direction, especially as Erdogan is coming to Iraq
Share price up nearly 5% this morning, that means only another 95% to go before I break even. Is this rise to be taken as good news regarding the pipeline?
What is it about this company that induces endless comment diarrhoea?
Hundreds and hundreds of posts, and nothing ever happens.
When the pipeline is open and money starts flowing again, GKP will be targeted to reach back to 200p, especially once dividends are re announced and back payments issued
Good article but sadly nothing new there. Iraq could easily fill the vacuum left by Russia and with access to the Mediterranean, hydrocarbons could easily be transported to the European market. Until Iraq can get IOCs onboard, the development of their oil and gas industry won’t improve. Locating large gas reserves in the north would be a real game changer, not sure if they’re interested in looking.
I thought this one was a good read. As we know too many things need to change (that won't) in order to get this country out of this mire.
https://oilprice.com/Energy/Crude-Oil/Iraq-Takes-First-Step-Towards-Becoming-The-Worlds-Biggest-Oil-Producer.html