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The way forwards? - news just out of ADIPEC. Future Licencing Structure
Iraq sets January deadline for oil companies in new licensing rounds
The deadline for international oil companies to send a formal letter of intent for Iraq's fifth + and sixth licensing round is January 2024, an Iraq oil ministry official said on Tuesday. Al-Neama, head of the Exploration Contracts Division in the Iraqi ministry of oil said during the ADIPEC energy conference in UAE's capital Abu Dhabi. "Iraq fifth + and sixth licensing round reduces royalty," he added.
the deadline for international oil companies to send a formal letter of intent for Iraq's fifth + and sixth licensing round is January 2024, an Iraq oil ministry official said on Tuesday. Iraq fifth + and sixth licensing round will have a profit-sharing arrangement and will remove a "huge amount" of investor burden, Al-Hakam I. Al-Neama, head of the Exploration Contracts Division in the Iraqi ministry of oil said during the ADIPEC energy conference in UAE's capital Abu Dhabi.
TM,
Please tell me that rant is not directed at me!!!
'Whom Tyler'?
'Helsenberg'?
You okay TM?
Space tomato, why top up at these prices? Not last week??
And as a shareholder I don't mind saying, I want the export oil to flow with Shaikan in the mix.
Q Who led the Pedant’s Revolt?
A Whom Tyler.
Heisenberg was stopped by the traffic cops. Do you know what speed you were doing back there?
No idea H replied but I knew exactly where I was.
Descartes went into a cafe and ordered a coffee. When he’d finished the owner asked whether he wanted another.
Hmmm, I think not said D, who immediately disappeared.
Heard about the Sado-masochist who liked taking cold showers so he had to take warm ones.
Need a RNS pdq otherwise back to a quid !!
I don't think management accually care about the share price swings ..
But throw as bone for god sake ..
As I said before the most manipulated share ever in existence.
Shorters might get their exit tomorrow..lucky sods
Any of the rampers going to apologise?
Hardly a fall to the £1 you were predicting, lol
How is BOO HOO doing, last time i looked it was over 11% down, and you said it was a great topping up opportunity, its still dropping????
let's face it, you're just guessing like most others!!! you don't really have a clue where the Sp will go
Last one for me. Good luck all holders.
ST
From https://tradingeconomics.com/commodity/brent-crude-oil
Brent crude futures fell to around $90 per barrel on Tuesday, sliding for the fourth straight session as investors lightened holdings of risk assets amid a strong dollar and surging Treasury yields. The dollar scaled fresh ten-month highs against a basket of peers and the 10-year US yield rallied to its highest levels since 2007 as strong US economic data bolstered the view that the Federal Reserve will keep interest rates higher for longer. The ISM Manufacturing PMI for the US showed the contraction in the manufacturing sector slowed sharply and price pressures eased in September. Analysts also noted that a key oil pipeline between Iraq and Turkey looked ready for operations this week which could result in additional oil flows and ease global supply tightness. Meanwhile, markets look ahead to an OPEC+ meeting this week, where it is expected to maintain previously announced output cuts.
LOTM
Hope so - I'll be happy to add again around 110p :)
Buying for the long term so not worried about volatility.
Bugsy, good man, I want a room on that yacht of yours when that gap is filled. Fair play ter yeh
Any of the rampers going to apologise?
In the end every APIKUR member has a responsibility to their individual shareholders.
So each Board will have to evaluate what that means in the context of that perspective.
And those considerations will be different for each Company.
In my experience, self-interest usually prevails.
There'll be a form of words. A joint statement of renewed commitment to the cause.
But 'Gun Boat Diplomacy' demands that this will be settled on ICG terms...because we have no power apart from our ability to perform in our best interests, i.e. the best interests of our shareholders.
And as a significant shareholder I don't mind saying, I want the export oil to flow...
@Jaycee - go back to bed your obviously tired :))
You’re probably right but I suspect #3 will prevail. IMO, I think there may be a hybrid sales agreement in the short term. The local sales may continue as it’s cash in hand but the sale price may have to go up if the refiners want to keep GKP in the mix. I believe they’ll get some oil flowing through the ITP at the same time just to test the arrangement with SOMO. If the arrangement with SOMO proves as lucrative as promised, I can see the ramp to 55k and beyond being the priority and the local sales being curtailed. The sooner IOC’s get back to exports at international prices the better and the arbitration can bubble away in the background.
Before the actual oil is flowing, is not being sensible. This is a market players dream currently.
Get some ponce in a 2 or 3 papers to wrote some crxp and away it jumps or falls.
No substance
I'm still waiting for the gap fill at £3.90 of old money.
Shorter scrambling to get the price down and get out, they've miss read the whole situation theboil will flow and the process will easily dpible from here just need to buy , hold and wait.
Yawn!
Nothing more than a gap up fill, will hit 1.12p then bounce, very rarely does a share move off without filling those big gaps
What price did you sell at? You stated you bought in at ~100p
Clearly missed out on yesterday's rise. Bad luck.
“Iraq has said no”
Evidence please.
For me, APIKUR are now centre-stage.
On at least three counts:-
1) Will that dissociated Group of IOC's with different P&L/Balance Sheet dynamics have the balls to present a common face and stand firm for new arrangements securing reliable on-going payments? Maybe;
2) Will they re-start production on the back of those new arrangements, given that their receipts are dependent on that production? Maybe;
3) Or will they capitulate/collapse under the weight of that short term pressure to re-start production and just ignore the past commercial abuse?
Who'd want to be JH right now? Sure as sh*t not me.
Can hold if you like but others will taking profits as they know that without official start up this is going back to £1 or even lower. Iraq has said no and that’s all there is too it right now
Top up with every opportunity, pay day soon
with RNS from GKP easily over 150p
It's not just about getting paid, there's still a dispute about how much goes to who, as the Iraqis have set up a completely unrealistic renumeration arrangement. https://www.roonbeen.org/2023/10/02/%d9%83%db%8e%d8%b4%db%95%d9%83%d8%a7%d9%86%db%8c-%d8%a8%db%95%d8%b1%d8%af%db%95%d9%85-%d9%86%db%95%d9%88%d8%aa%db%8c-%d9%87%db%95%d8%b1%db%8e%d9%85%db%8c-%d9%83%d9%88%d8%b1%d8%af%d8%b3%d8%aa%d8%a7/?fbclid=IwAR1a5WoB7daLnBscd_ZkG_AX4MRlN4cHTp0_wL8Pvso7jBQ3qtcNX-ncmeY once the US has kicked enough a$$ to get an agreement, then things will move.