The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
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.
Reported and anyone with a conscience would explain to your Dace like brain why.
It sounds like a bit of a platitude but clearly we are all waiting for the pipeline to reopen which as we have said all along makes no sense to be closed, in the meantime Genel is benefitting from a streamlining or as the management say are ‘deep cuts’ to the business.
So, for the time being Genel should remain in the portfolio and despite the short term problems has sufficient long term attractions not to let the baby out with the bathwater…
Paired with Sells
Tick tock tick tock...
£300k + of late buys today ......
Lead Zeppelin time comes round again ……
The GKP company motto: “What goes up, Must come down”.
'It seems clear to me that a fair and sensible idea is clearly a farm in to Shaikhan.'
Ok, you keep saying that but it isn't going to happen.
Genel indicated in todays meeting that they were supplying a small amount for local use, probably from storage.
55,000 from who exactly?
Your cash balance was $93 million at 15 June 2023, the value of STB's in Shaikhan are staggeringly low. Genel imo are very on when the pipeline will open.
It seems clear to me that a fair and sensible idea is clearly a farm in to Shaikhan. Presumably all of the original shareholders who fluffed themselves into a frenzy and actually biffed GKP into the FTSE100 have pretty much gone now? After the D/E swap?
Maybe Turkey is D.Ducked, but have some sympathy, the Erdogan familly are up against it too: where next to hide their ill-gotten gains…….. ?
Paul Weir also added that there is "no clear line of sight on when either pipeline exports or payments will restart".
To paraphrase John Maynard Keynes, politicians can remain irrational longer than we can remain solvent.
'US and the West also need to put the hammer down.' lol
You should check out events in Niger and west Africa presently to see how unlikely the 'west' is to do that. Meanwhile the former POTUS and the current POTUS are both facing criminal charges pursued by their political opponents. True banana republic stuff.
US and the West also need to put the hammer down. A higher oil price is not good for the West and the inflation battle. Re-opening the pipeline can not happen soon enough.
Indeed but I would be surprised if GENL do not take up a significant share in Shaikhan, they are well and truly on the warpath now...
Not necessarily a bad thing, the third iteration of GKP!
If he doesn’t arrive today or tomorrow, it’s not likely to happen Fri for religious reasons. That put’s it into Sat/Sun when markets are closed. Come Erdo, get your finger out.
imagine one closed pipe by turkey can cause so much problems to people and businesses. erdogan at his best . holding other countries to ransom as his is totally in **** with 80% inflation
Probably more fog! But maybe just trying to make sure all agreements are in place (or am I just being an optimist)
https://www.kurdistan24.net/en/story/32131-KRG-delegation-to-visit-Baghdad