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Looks like the yanks won’t be leaving Iraq anytime soon.
Eid Mubarak to all Iraqis and Kurdistan people. Celebrate your Eid and let’s get this oil flowing and let’s all make money instead of war. 🙏
https://www.defense.gov/News/Releases/Release/Article/3735450/usiraq-higher-military-commission-principals-meeting-statement/
Sudani taking representatives of KRG with him to meet sleepy Joe. Bodes well methinks.
https://www.rudaw.net/sorani/world/090420244
Rudaw - Washington
Iraqi Prime Minister Mohammed Shia Sudani and a high-level delegation, including representatives of the Kurdistan Region, will be in Washington next week to discuss various issues with US officials.
One of the most important meetings will be at the State Department, which will be the meeting of the Iraqi High Coordination Committee. A State Department spokesman told Rudaw that the meetings will begin next Monday.
"The US-Iraq High Coordination Committee will meet next week on Monday to focus on the priorities and broader relationship between the two countries, including energy independence, economic reform services for the Iraqi people and strengthening democracy," Miller said and there will be the rule of law as well as educational and cultural ties."
The Kurdistan Regional Government (KRG) delegation will participate in the meetings and the United States intends to resolve the issues between Erbil and Baghdad and the Kurdistan Region, "a resilient and strong region.
"Representatives of the Iraqi Kurdistan Regional Government will participate in these talks. The United States supports a resilient and strong Kurdistan Region within a strong, federal and stable Iraq, and we encourage the Iraqi and Kurdistan Regional Governments to make their efforts," State Department spokesman Matthew Miller told Rudaw "They should do so to solve their problems and provide economic prosperity for all Iraqis.
Iraqi Prime Minister Mohammed Shia al-Sudani and US President Joe Biden are scheduled to meet at the White House this afternoon. This meeting will show how successful this visit was.
The meeting also discussed security and energy relations; They will also discuss the remaining US troops in Iraq, the strengthening of armed groups in Iraq and the problems between Erbil and Baghdad.
د. "The meeting will also discuss relations between the Kurdistan Regional Government and the Iraqi federal government, which have had many obstacles and the United States has encouraged them to resolve them. I think the prime minister did a good job to reach a bilateral agreement," he said At least time to resolve issues, until all issues are fully resolved and we hope these relations will continue to be strong.”
The Iraqi prime minister is scheduled to meet with the media and research centers to discuss Iraq-US relations and the situation in the region.
Big cash cow this is . Once the dark clouds disappear a takeover will come at £4-5. A company that was paying handsome dividends with no debt is ££££££ to the bank!
They will have to close their short soon
We have been here so many times over the last year.
I have been invested since 09 (pre strike) and with dividends if it gets to 150p I am even, but torn mentally, between get out with my shirt on my back (which at several points looks impossible) or hold for better times once more......I dare say many long term holders will be in the same boat and hence, strong hands, leading to spike?
All I know is, I once believed in a super giant oil find that should have been life transforming for not only GKP shareholders, but for the long suffering people of Iraq, needless to say it has not been an easy road and I don't think we have quite reached our destination quite yet.
GL all and let us hope for much better days ahead.
Looks like its being steadily walked up towards £1.40 levels by end of week, or shorts closing??
Huh? He updated everyone less than two weeks ago! He needn't respond to speculation.
I would like to get the figures on volumes and sale price for March, however.
Probably time for Jon Harris to come clean about what oil is going where and when I would imagine. The share price says enough
Let's remind ourselves, that Apikur members are free to negotiate outside of apikur. It's even been stated as much.
@broadfordbay - surely that can’t be true can it? After all an Iraqi minister told us a couple of weeks ago that they were still waiting for the documents. 😂
You seem to be disappointed in the share price trajectory - strange.
Certainly someone knows a lot more than us with the gentle but steady upward pressure on share price.
Captain,
thank you for posting that Rudaw inteview with KRG Cabinet Sec. Rahim.
The following section caught my eye and, if a true representation of what was said, needs some serious thought by investors:
"There was one point of disagreement on the oil issue: the wages of the companies. Has any agreement been reached on this issue?
First of all, the Kurdistan Region does not have a national oil company to force its companies to agree to the money determined by the Iraqi oil ministry, SO THIS PROBLEM IS MORE BETWEEN THE OIL COMPANIES AND THE IRAQI OIL MINISTRY, not between the KRG and the federal government. In the latest step, we took representatives of all companies to Baghdad and met with the oil ministry under the supervision of the finance committee, and provided any documents they requested. THEREFORE THE PROBLEM IS NOW BETWEEN THE COMPANIES AND THE IRAQI OIL MINISTRY, although unfortunately the suspension of oil exports from the Kurdistan Region has caused more than $500 million monthly loss to the Iraqi treasury."
(CAPS are mine)
That reads rather like "It's not my problem lads, it's up to you to sort it out".
I see this as a continued de-dollarisation of crude by the Row on the heels of the slow death of the Empire of Lies....
Their Rules-based disorder is coming to an end and, as we see with Chinese, and many other 3rd party countries, they are increasingly trading crude in their own currencies.
This will only accelerate and the "western world" including the UKUSNATO, will find ourselves out of the loop of a multipolar world of trade
I must say that I found yesterday’s events to be fascinating. I woke up in the morning in the expectation that the price of GKP would rise substantially on the weekends press reports and rumours as discussed on this forum, and sure enough the price confirmed that their had to be substance in those reports. However, late morning reports of Russian meddling in the pipeline dispute and the existence of a route into Turkey that bypassed Kurdistan sent the shares tumbling, fortunately more so for General. Then as the buys continued to outnumber the sells the price stabilised.
At that point I became confused with the direction of the next move and as a share trader it’s my purpose to know, or confidently guess. Therefore I woke up this morning with the feeling that I should hold while I waited for this morning’s early share price movements to become my trading guide. And at this moment in time the market seems to be sitting on the same fence as mine.
Confused? With shares in GKP you certainly will be.
What do you guys make of this? Is the bottleneck the transportation fee the Russians want? It looks Sudani talked to these russian companies first.
https://twitter.com/KurdistanWatch/status/1777091351219224661
Representatives of two major Russian oil companies, Lukoil and Gazprom, arrived in Erbil today to discuss KRG oil exports and the development of Kurdistan's oil fields.
Details: A delegation from the two companies separately met with the Minister of Natural Resources and the Head of the Diwan of Prime Ministry Omed Sabah in Erbil.
According to Sabah, the meetings discussed the agreement between the KRG and the Iraqi government to resume oil exports, as well as the investment activities of Russian companies in the region.
Later, Vadim Botakov, Director General of Russian Gazprom in Iraq and the Middle East, visited the Prime Minister's Office.
Sabah stated that the meeting emphasized continuous coordination between the KRG and oil companies, as well as the KRG's ongoing efforts for strategic partnerships with oil companies and resolving oil and gas issues between the Iraqi Federal Government and the KRG within the constitutional rights of the Kurdistan Region.
The development of oil fields was another topic discussed between the Head of the Bureau and the Russian company's representative. Sabah reaffirmed the KRG's support for the energy sector and oil companies operating in the Kurdistan Region.
In 2017, the Russians established a presence in the KRG's oil sector, with Rosneft owning 60% of the Kurdistan oil pipeline worth $1.7 billion, according to an agreement signed in the presence of the KRG Prime Minister, Deputy Prime Minister, and Minister of Natural Resources.
Oil exports from the KRG have been suspended since March 25, 2023, prompting foreign oil companies to write a letter to the United States demanding pressure on Baghdad to resume exports.
Despite the suspension of exports to the Turkish port of Ceyhan, companies are currently producing 200,000 to 220,000 barrels of oil per day in the Kurdistan Region.
After resolving the salary issue, the Iraqi authorities are expected to work on resuming oil exports from the Kurdistan Region, as the budget law requires the KRG to export 400,000 barrels of oil per day, with the revenues going directly to the Federal Ministry of Finance. The only disputed issue between Erbil, Baghdad, and foreign companies remains the cost of oil production in the Kurdistan Region.
Looking at the closing trades, definitely something going on, expect a high early price tomorrow.
Hxxps://www.rudaw.net/english/world/08042024
Now that's the kind of trade I like to see, when a shorter closes or someone puts a big chunk of money in.
Apr-24 17:29:26 121.70 170,191 Unknown* 207.12k
I'm trading this stock on the periphery of my investment right now...you guys can talk geopolitics all you want but we're here to make money and right now there's easy pickings...
I need to re-state my commitment to GKP as a future business model which I believe in.
However, we're all here to make money.
Sooner and later.
Don't you just love this share?
And that's it.
EIA link on pipelines: https://www.eia.gov/international/content/analysis/countries_long/Iraq/iraq_bkgd.pdf
EIA pipeline info: page 5. It's the part going from Kirkuk to the border being repaired: if anything it adds incremental capacity.
Total capacity of 1.5 million of barrels per day to Turkey still stands, and Iraq and absolutely not Kirkuk can fill that anytime soon.
Furthermore, here's a presentation from SOMO in Germany last year: https://www.numov.de/wp-content/uploads/2022/09/Oil-and-Gas-Sectors-In-Iraq-ver-16.pdf
Iraq is building, and planning to build, plenty of capacity throughout the country for exports.
Plenty of room for the IOCs to fill up their entire production imho.
What's important now is that Baghdad, KRI and IOCs settle on some contracts. Pipelines are a smoke screen.
From my understanding, both pipes (40" and 46") are fully working on the Turkey side. If Iraq now repairs the lines down to Kirkuk, one might assume they repair both the 40 & 46 thus the capacity is 1.6 million/d - plenty of capacity.
Makes little difference to us , the locals are making a fortune off our cheap trucked oil and will continue to do so whilst the pipeline issues continue with or without the repaired one coming backonline.
"Their subsequent announcement that they were only being paid 25, albeit for larger amounts, disappointed the market. "
Yes, they received $25 in February when Brent averaged $83.5 a barrel. Clearly the company had to accept a lower price to move greater volume (a strategy which I think is smart as keeping the field ticking over is good). Brent averaged $85.4 in March, up 2.3% on February. We await to see how the company did in March... $35 would be great, but I wouldn't count those chickens yet.