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Https://www.rudaw.net/english/business/10122023
Some of that 700 billion can be used to pay the IOCs monies owed, surely...
Maybe we should hedge and buy shares of Ülker?
About time the Kurdistan side realised that taking the IOC's along with them will strengthen their negotiating position, if I were them I would be making alternative route to market plans to scare the bejeebers out of Baghdad.
Hmm plenty of biscuits in the pictures ........
LOTM
Probably best wait till the next meeting after Xmas in 2025 ??
This was today! 53 mins ago.
“ ERBIL (Kurdistan 24) – A negotiating delegation of the Kurdistan Regional Government (KRG) consisting of a senior team of the Ministry of Natural Resources met with oil and gas production companies on Sunday in Erbil.
The meeting covered the most recent developments in the negotiations between Erbil and Baghdad regarding the oil laws and budget, as well as the actions taken by the KRG to protect the region's constitutional rights and find a solution.
The meeting also expressed the Kurdistan Region's desire to resume oil exports as soon as possible with the representatives of the companies, which requires finding a common understanding of all parties on the cost of production and transportation of oil.”
Full article
https://www.kurdistan24.net/en/story/33408-KRG-delegation,-oil-and-gas-companies’-reps-address-resuming-oil-exports
ERBIL (Kurdistan 24) – A negotiating delegation of the Kurdistan Regional Government (KRG) consisting of a senior team of the Ministry of Natural Resources met with oil and gas production companies on Sunday in Erbil.
The meeting covered the most recent developments in the negotiations between Erbil and Baghdad regarding the oil laws and budget, as well as the actions taken by the KRG to protect the region's constitutional rights and find a solution.
The meeting also expressed the Kurdistan Region's desire to resume oil exports as soon as possible with the representatives of the companies, which requires finding a common understanding of all parties on the cost of production and transportation of oil.
Moreover, the meeting addressed the challenges faced by oil companies in the past few years, which have been created for them due to the economic situation.
Finally, both sides decided to continue such joint meetings to find common solutions, resolve outstanding issues, and resume oil exports, which will play an important role in the economic recovery of the Kurdistan Region and Iraq.
The export of Kurdish oil through the Iraq-Türkiye Pipeline has been halted since March 25 after Iraq claimed victory against Türkiye at a Paris-based international court for allowing the KRG to independently export its oil.
Earlier on Dec. 5, the Association of the Petroleum Industry of Kurdistan (APIKUR) expressed its concern that Kurdish and Iraqi natural resource officials did not invite representatives from the organization to bilateral meetings.
APIKUR member companies complained they have “neither been included in these meetings nor been invited to participate in any future meetings between the KRG and GOI [Government of Iraq].”
Https://www.kurdistan24.net/en/story/33408-KRG-delegation,-oil-and-gas-companies’-reps-address-resuming-oil-exports
“The members of APIKUR will continue to work with the GoI and the KRG to resolve outstanding issues“……….and does anyone know what these are, pray tell ?
Surely these can only be to avoid prosecution and to ensure and increase the wealth of those running the show.
We know nothing will come from this meeting!!
Probably arranging their next meeting ??
Complete idiots the lot of them. We just keep plodding on selling locally while we wait another 8 months.
Ignore that post! I saw 8 Dec! Oh well back to sleep
APIKUR and Iraqi Government officials meet in Dubai
November 8, 2023
Key Points:
● APIKUR and Government of Iraq representatives met today in Dubai.
● APIKUR’s focus was to enable the rapid restart of oil exports via the ITP through a proposal for member companies to sell their entitlement oil to MoO/SOMO.
APIKUR representatives met with the Government of Iraq (GoI) representatives from the Ministry of Oil (MoO), the State Organization for Marketing of Oil (SOMO), and the North Oil Company in Dubai on November 8. This was the first meeting between the groups.
APIKUR and GoI representatives emphasized the urgency of resuming full oil production and exports to global energy markets under mutually acceptable commercial terms. As the most expedient way to resume exports through the Iraq-Türkiye Pipeline (ITP), APIKUR proposed that SOMO negotiate crude oil purchase/sale contracts with APIKUR members. Under their Production Sharing Contracts (PSCs), APIKUR member companies have the right to sell their share of oil production (their entitlement oil) and the parties discussed how APIKUR member companies could sell oil to MoO/SOMO for subsequent transport through ITP and onward sale to international markets.
APIKUR representatives indicated the APIKUR members will be able to resume full oil production when there is a clear, well-defined, legally-binding agreement on oil sales and export terms, including payments for past and future sales.
The GoI delegation acknowledged that past debts would have to be honoured and that contractual arrangements would have to be acceptable to all parties, including the Kurdistan Regional Government. APIKUR representatives reiterated that existing commercial terms must remain in place, and the existing PSCs are valid.
The people of Iraq—and in particular the Kurdistan Region—continue to suffer economically from the closure of the ITP and the absence of a commercial agreement that protects international investments and encourages future foreign investment. The members of APIKUR will continue to work with the GoI and the KRG to resolve outstanding issues and resume full production and export through the Iraq-Türkiye Pipeline for the benefit of all Iraqis.
Crawl back under your rock fisherman (or whatever you were called before dec 6th)
So, reading between the lines here, you're suggesting we buy GENL instead? I have both, I'm agnostic.
This made me laugh 🤣
You can ignore it, your choice, do not say you were not warned, as it effects all Oil company in that Area. Turkey is acting .
Suggest you do the basics, and ask questions, if you know how
Lol goodbye
Hilarious, one post and straight in there. tell us another one about the Christmas Elf. (Filtered of course).
The impasse is being prolonged for a purpose of course.
The peoples of greater Iraq are the losers day by day.
So those in power are protracting things - which we can only conclude - are for personal gains (as usual).
Imagine the signing fees and backhanders which will be arriving into private accounts when we are replaced by major Chinese, Russsian or Indian Oilies ?
How can this be done swiftly and legally - such that the cunning ICG can dispose of us and our disputed, illegal contracts under Erbil - without being dragged through the International Courts ?
I would be concerned at what Turkey is going to undertake in kurdistan and how it will deal with the Americans bases, and Gaza . Iraq Oil production is being cut back anyway, and will be cut more in the coming weeks. War is now in Kurdistan. Tuesday December 5 .Dohuk. Landing operation of the Turkish Armed Forces in Iraq
Yesterday, the Turkish armed forces were active not only in the Mediterranean Sea: this night the Turkish Armed Forces carried out a combined attack in northern Iraq, again hitting the positions of the Kurdistan Workers' Party (PKK).
First, Bayraktar drones from Van airbase and Akinci drones from Batman attacked PKK strongholds northwest of Dahuk . As a result, several PKK members were eliminated, as well as a stronghold.
Then a pair of F-16C/D fighters took off from the base in Diyarbakir and attacked Kurdish positions northeast of Dohuk, dropping two guided bombs. An E-7T AWACS aircraft was operating in the air.
An hour later, up to 30 people from the Commando mountain brigade of the Turkish army were landed from two AS-532 transport helicopters to assess the results and “test out” the situation in the area .
The servicemen, under the cover of T-129 Atak attack helicopters and three Akyndzhi UAVs, conducted reconnaissance of the area and then flew back. However, such an operation indicates that Ankara is preparing to increase its activity in Iraq, and also, quite possibly, in Syria. And this kind of landing allows you to assess the capabilities of your army and the strength of the Kurds opposing it
Thats Good news, a United front strengthens the hand of the IOC, s
“ We close 2023 with uncertainty: the region is in conflict and exposed to the effects of climate change, and Erbil-Baghdad disputes risk goodwill between us.
We can do better.
We enter 2024 with high hopes for dialogue, emission cuts and improved quality of life for Kurdistanis.
https://twitter.com/masrourbarzani/status/1732859427974205777?cxt=HBwWosW2of-drYwwAAAA&cn=ZmxleGlibGVfcmVjcw%3D%3D&refsrc=email
The more the merrier.
Second, what does it mean for the Iraqi Oil Ministry to sign an agreement with Crescent Petroleum to invest in three oil and gas fields in Diyala and Basra provinces and start implementing it from November 15, 2023? Because this company operates in the Kurdistan Region and has contracts, which before the decisions of the Federal Court and the Paris Court of Arbitration were warned not to work with the Kurdistan Regional Government. Or is the gas and oil agreement different? Because Crescent Petroleum has come to the Kurdistan Region in the same light of the Kurdistan Regional Government's oil and gas law and the PSC production sharing contract, it continues to expand its operations and increase gas production and even export it to areas under Baghdad.
height
If the signing and publication of the new agreements of the fifth round and the sixth round does not attract the attention of international oil and gas companies to invest in Iraq, then what other changes should be made to come to international companies to invest in Iraq.
The daily losses of the suspension of oil exports for the past nine months reaches about $ 9 billion for all parties, but several questions arise why the Iraqi government is not ready to receive half of the $ 80, even if the oil exports According to the 2023 Iraqi budget, the Iraqi government should have received $28 million a day.
The second question is why the oil companies are willing to sell oil at $33-39 a barrel but are not willing to sell it at a price close to Brent, which is $80 these days Or what is the truth?
The third question is why Turkey initially did not allow the export of oil on the pretext of repairing the damage caused by the earthquake in North Kurdistan. Now it says that they have officially notified the Iraqi government. That Turkey should have paid compensation as stated in the Paris court decision? Or the game is such that every time a party and a problem arises to continue to stop the export of oil from the Kurdistan Region.
Finally, the content of the Iraqi contracts has changed, so Crescent Petroleum and Total Energy are investing. We can say that the changes are similar to the contracts in the Kurdistan Region, but with different names and lower rates In content, the production sharing contracts are PSC and similar to those in the Kurdistan Region, but they are different in title.