Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
"So is this good or bad for GKP?"
I don't know tbh. It depends on the intentions of the ICG I think. Will they allow Kurdish oil to flow through this pipeline? Under what conditions/circumstances?
Best Regards ValueS
Wow, this is new to me, thankyou ValueS
So is this good or bad for GKP?
"This feels different"
It's different alright, they are talking about the old (non-Kurdish) pipeline that connects Kirkuk to Fishkhabour, which Iraq was using to export oil through Turkey prior to the construction of the Kurdish pipeline. The old pipeline lies entirely within the territories under ICG control and used to have a capacity of c. 2 MMbopd. As far as I know, during the Iran-Iraq war, Iraq relied entirely on this pipeline for oil exports as the Persian Gulf was blocked by the Iranian navy.
Best Regards ValueS
Sorry missed typed
I meant to say, If this is true then even if permission was give to send the Oil through the pipeline it would have NOT been possible to do so
"He pointed out that "the North Oil Company worked over the past months to replace the damaged parts by the Oil Lines Department, which contributed to the work and completed the complete repair of the pipeline, and it is now ready to transfer any quantity determined by the Iraqi Oil Ministry to resume the export of crude oil from the Kirkuk fields to the Turkish port of Ceyhan"
The above taken from the recent article, if this is true then even if permission was give to send the Oil through the pipeline it would have been possible to do so
This gets more crazy by the day, I wonder if we will hear anything from Apikur regarding this
Khelder your absolutely right..
And if the pipeline was recently damaged should we have been also notified by GKP ?
Mind boggles with the statement from all sides.
According to this article the pipeline had been damaged by Isis and they have just now fixed it.
If that’s the case why didn’t they say this before.
Either this is codswallop or this is Iraq governments insane lame excuse of why the pipeline has not been opened.
Tomorrow’s meeting between Turkey and Iraqi officials could be the turning point. Fingers crossed they come to some agreement and open the pipeline
Atb to all holders
This feels different
We've seen almost identical statement multiple times already...
Https://shafaq.com/en/Economy/Iraqi-Turkish-pipeline-fully-restored-ensuring-uninterrupted-oil-flow
Turkey made (makes) approx. $1,400m - $1,600m per year operating the ITP. It's very clear that they have heavy incentives to get get it restarted. It's a huge source of income for Turkey and I'm confident they will make concessions on other topics, just to get it reopened.
Turkey has stated publicly four (4) times since October 2023 that they are ready for a ITP reopening.
From ADVFN, point of optimal tension reached now I think.
https://www.kurdistan24.net/en/story/34270-U.S.-Presses-Baghdad-to-Resolve-Disputes-with-KRG-ahead-of-Sudani-Visit:-Report
2023 the US taxpayer forked out $3 bill. and that was just for humanitarian - the total annual aid will be eye-watering.
I think we can guess where the lion’s share gets syphoned off to !
The general population will probably see very little of uncle Joe’s naive good deed.
Https://www.reuters.com/world/middle-east/turkey-iraq-hold-high-level-talks-security-energy-baghdad-ankara-says-2024-03-13/
One way or another I think this is coming to a head in next few weeks. I feel the PKK are the sacrificial lambs in this regard
Andy, yes, asI said March 23.
Synopsis:
The best we can hope for is once the West accepts Ukraine loss, and the middle East in general, Africa etc. Little oasis of commerce are permitted to continue, ie business goes on.
For example if the Deep State use Trump to patch up relations and allow all our iocs exist in the new paradigm.
It's a very tough call.
Selling on the April 4th at the 1.85 spike was the easiest trade I never did.
Sorry, didn't mean top post that just yet, but both quotes from BB and PUTUP are spot on.
'In view of what has happened, it is completely wrong to assume the USA can now come in and force a Sovereign Nation to alter their way of doing things.
Like it or not, that's the way it is' - Broadford Bay
'If you think Iraq/Kurdistan is a priority for the US government I suspect you are deeply mistaken
Biden isn't aware of anything
In a way US dollars are enriching the corrupt in Iraq whilst enabling them to continue persecution against the Kurdistan area and the IOC companies that operate there. They barefacedly lie and try to produce an façade of deception utilising the countless hand wringing, biscuit munching meetings while clearly doing the opposite. Media manipulation is their specialty, however most are now wise to the employed tricks. Knowing the Arab mentality they don't do this total lack of co-operation on their own, suspect the rot and corruption goes to the highest level in Baghdad.
Disagree Putup - I think the news is out that the aid package going into Iraq is US taxpayers money and it is patently going to enrich those in power in Baghdad and Erbil - rather than the enpoverished Iraqi population.
Even Biden will be aware of the horrendous corruption he is financing with the monnies underwritten by the American taxpayer.
Lets see how that pans out……..
For once, SHUTUP, I agree.
The Empire of Lies is toothless....
Our real risk here is that any and all "Western" O&G Cos maybe/could be screwed a la Venezuelan Cos in the mid-nighties
Belgrano what bs are you on about, the Iraqi people! Like anyone here is here for the Iraqi people.
"Let’s hope Old Joe vents his spleen on the hideously wealthy Iraqi & Kurdistan rulers when they meet soon. "
If you think Iraq/Kurdistan is a priority for the US government I suspect you are deeply mistaken
The Supreme Court was asking for accounts to be opened before they paid the money. Now apparently they are happy for it to be paid in cash. Pressure beginning to tell.
Iraq’s Federal Supreme Court on Tuesday called for the acceleration of the “localization” process aimed at paying the salaries of the Kurdistan Region’s civil servants, adding that salaries must be paid in cash for employees yet to complete the process.
https://www.rudaw.net/english/kurdistan/120320243-amp
Judge resigns.
Not surprised….. the law has no place there.
He risked waking up to his favourite camel’s head in bed beside him perhaps ?
Let’s hope Old Joe vents his spleen on the hideously wealthy Iraqi & Kurdistan rulers when they meet soon.
This get-rich-kwik (at the expense of the lowly population) has to come to a head soon.