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Genel being batterd again today.
As before, when we were forced into this situation:
The tankers MUST be hired via a Barzani Bros. company (special price for you my friend) :)
So - a fox is in charge of the henhouse !
Awesome.
@Mulder whatever the BOD wanted to do there are problems IMO with market reality and logistics.
Shaikan being sold locally is not going to fetch anything like Brent on the international market. News outlets have suggested that even the good stuff from the KRG is only getting circa $40 a barrel on the local market.
What price Shaikan on the local market and is it above the CURRENT b/e level?
So if they want to get Shaikan to the international market they will need to hire a fleet of tankers to transport just like they used to.
The government is already moving some production internally and has proposed increasing that rapidly in the coming weeks - that is going to involve a lot of tankers.
Where are the spare tankers needed by GKP coming from?
OK - so $80 a bbl profit, dare we ask where it goes ?
They don’t pay us.
The population sees nothing.
Conclusion: Someone is trousering an eyewatering amount of cash.
@Armas.
“ I didn't realise Erdoğa visit was a rumour, I thought it was a fact.”
From this I deduce that it was not you who gave me the single Rec for my sceptical evaluation of the weight being placed on one outlet quoting one source speaking in secrecy:)
PoO goes up….. GKP SP will probably fall.
I have learned to expect the unexpected here :(
When oil price goes up a lot, Turkey will do a deal quickly
https://www.telegraph.co.uk/business/2023/08/03/bank-england-base-interest-rate-live-ftse-100-markets-news/
Couldn't care less who comes as long as they bring with them permission to open the pipe line
I didn't realise Erdoğan visit was a rumour, I thought it was a fact.
Erdogan was rumoured for this week. Not we only get foreign minister possibly end of month. This is a joke.
What happened to Erdoğan visit?
#BREAKING: The spokesperson for the Iraqi Ministry of Foreign Affairs has officially announced that the Turkish Foreign Minister is scheduled to visit Iraq during the latter half of this month.
The KRG should have made it clear from the start they would sell their oil by all other means unless compromises were made and the pipeline was restarted. At $5 a barrel production cost with Brent now at $85 even with trucking that is a healthy profit margin and far better than sitting on their ass for 6 months. Ridiculous and inept.
Https://shafaq.com/en/Kurdistan/Kurdish-Representative-Appointed-as-SOMO-s-Deputy-Director
In other news they formed another committee to discuss the oil and gas law.
More family members getting a job with zero knowledge of oil and gas.
Regardless BB, I don't see them agreeing to it. Semi-autonomous or not, they have their own army, and, as we all know, many many disputes over who owns what where.
They'll fight and die before they hand what they see as their birthright over, but the more you read of any potential agreement seems a waste of time, as I'm lost to remember any agreement between the two parties that actually did last any substantial period of time.
Iraq already owns ALL of the oil and gas within the country.
Kurdistan is what the Kurds prefer to call it, but truthfully it is the Kurdish Region of Iraq and is a SEMI-autonomous region of Iraq with certain rights and powers granted to it. Those rights have are balanced by obligations - and it's plain that these, on both sides, have been abused in recent years.
The State Oil & Marketing Organization has every right to manage the sales & marketing of KRI crude.
In the same way, North Oil Co - who traditionally managed the technical aspects of Kirkuk field development (incl Avanah and Khurmala domes as well as the adjacent structures) will be responsible for the technical development of ALL the Northern fields. Obviously, input from those closest to the action with the greater knowledge of the local fields such as KRI MNR will be sought.
The "hardball" briefly mentioned has yet to be fully aired and will encompass the revision of the KRI PSCs.
I just can't see the Kurds ever agreeing to that, even with the reality check they have had.
The way this has been handled shows the Iraqi politicians do not care about foreign investment in their economy, their global reputation or standing. It is the public who will suffer. Incompetence of the highest order.
Baghdad playing hard ball? But could be another Cr@p article.
KRG finds itself in a very tough position during the federal hydrocarbons law negotiations, and Baghdad seems to be taking advantage of this vulnerability. The draft bill proposes that the Iraqi oil ministry will own and manage all oil fields and pipelines in the country...
https://www.newarab.com/news/iraqi-govt-and-krg-negotiate-divisive-hydrocarbon-bill
Maybe morons ponzi…. but millionaire morons nevertheless - due to their innate survival instincts and the brazen and bold way which they handled instilling fear and threats into our various Nigel and Jeremy BoD limpwrists.
A win-win for the KRG tribals then (but the spectre which even they fear will be when their empoverished and abused population have had enough) …… when blood starts to flow a squadron of their private jets will whisk them and their famillies to the safety of their Stateside palaces.
So Erdoğan going to iraq was a complete made lie by the media .
What a load of suckers we really are . We don't even have an oil and gas law so how the hell can they open the pipeline.
More meetings that never end with a resolution just another meeting with the highlight of a punch up.
Have these complete incompetent morons ever agreed on anything??
Probably the amount they can scimi gets resolved very quickly I'm sure .
Enjoy your weekend everyone..
Try BBC Bitesize for spelling training.
You may be correct but not from any cognitive reasoning, just loathing and protection of your punt.
Research, oops sorry google the difference between a geocultural and geopolitical area.