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"Removing legal obstacles to the Oil Ministry's transactions with companies investing in the Kurdistan region".
Seems like a another Iraqi trouble making politician had his complaints rejected.
Its clear where the obstacles lie, little wonder XOM have pulled out completely from Iraq.
@KurdistanWatch
Court Rejects Challenge to Iraq-KRG Oil Deals: The Federal Court rejected a complaint against an agreement between the Iraqi oil ministry and UAE's Naft Hilal and Dana Gas. MP Oday Awadi called for cancelling the contract with companies also working with the KRG, calling it illegal. He also stated buying gas from the companies violates the Oil Ministry's laws. After several hearings, the Court rejected Awadi's complaint, removing legal obstacles to the Oil Ministry's transactions with companies investing in the Kurdistan Region
Correction: Turkey’s $1.5 Billion fine.
Erdogan won’t be inclined to fork out to clear it off.
Their $1.5 million... A little more I feel!!
You've missed China, Russia, all of Opec
Who wants what out of this debacle ?
Turkey: Face saving for the polititions involved in exporting Kurd oil. Someone to pay their $1.5 million fine (they are receiving their daily pipeline fee currently).
IOCs operating in Kurdistan: Missed payments + interest. Legal contracts from ICG (similar to the other IOCs operating in the rest of Iraq.
KRG: Face savings to all guilty parties. Oil to flow. Avoid paying the past missed payments to their IOCs
ICG: Face savings for all polititions running the current mess. Minimized remuneration contracts to IOCs currently operating under illegal Erbil contracts in Kurdistan.
Have I missed anything…… ?
Lucky, he could show em though!
They probably see him as a false idol. No romance at all.
They do not celebrate xmas
Here’s one for our older readers.
I suppose Santa would organise a bid from his little helpers through Elf Petroleum.
“ Hopefully Santa Claus can open the pipeline”
Presumably through the intervention of Santa’s Oil Mediation Organisation (SOMO).
Hmm… typo alert.
Iraqi oil minister making 'no effort' to resume oil flows.
There, that’s better.
Hopefully Santa Claus can open the pipeline
So IOCs sell their oil locally to SOMO ??
I'm now confused!
"OK we can still sell locally at $30 indefinitely before the courts decide???"
Only if SOMO allows it. Suing would likely end that rather quickly. And even if allowed GKP will need to invest to keep the oil flowing.
Https://www.iraqinews.com/iraq/iraqi-government-is-eager-to-resume-oil-exports-through-ceyhan/
They say they are working towards a solution, they are lying. Not long ago they were trying to blame Turkey for the delays when all along it has been Iraq.
https://www.kurdistan24.net/en/story/32535-%E2%80%98The-ball-is-in-Turkey%E2%80%99s-court%E2%80%99,-says-Iraqi-oil-official-on-resumption-of-Kurdish-oil-export
However now the unused pipeline is costing 1M a day plus a Billion $ a month. Already 8 Billion dollars lost, plus costs and they have held many meetings and achieved nothing concrete bar "working together and God willing".
Well the waters not flowing from Turkey either now the "sign of good faith that they asked for has clearly been false hope for Turkey.
Now they offer the IOC's much less per barrel than they are paying for easy crude extraction in known oilfields in Iraq south. Then talk rubbish about illegal contracts in Kurdistan.. Clearly target is aimed to destroy the kurdish economy, and they are supposed to represent all Iraqis, and are trying to build world trust...
Believe they are now the worlds laughing stock and no country really trusts them despite what they say when sat together at the almost daily biscuit munching meetings.
They will yield because the costs are becoming intolerable for Iraq, just we really see that they don't want to, so certainly cannot be trusted at all.
Avoid court - Baghdad waited over 5 yrs for their (apparently unenforceable) ‘victory’ over Ankara and their cohorts - the delinquent billionaires rulling over us in Erbil !
What an embarassing shambles, played out on the World stage, for the peoples of Iraq this has become.
Not this year it won't !!
We are another 250 meetings away from any oil flowing.
Iraq will want to delay as long a possible.
They want kurdistan to implode on its self that's is all to see.
Im getting nervous because I think the IOCs will be going to court on this soon ! OK we can still sell locally at $30 indefinitely before the courts decide???
Article 1 hour ago
https://www.iraqinews.com/iraq/iraqi-government-is-eager-to-resume-oil-exports-through-ceyhan/
'Lost' 600,000 Euro plus yep. Piled in since..waiting for 5 pounds plus minimum to get out even. Not looking rosy.
After receiving c. 132p per share worth of dividends, I can claim that I managed to offset all my losses against Gkp itself. The average price of my Gkp holding after restructuring and 100:1 consolidation completed was 172.xx p as I applied for the maximum oo shares and got 22 oo shares for each share held pre-restructuring.
Best Regards ValueS
What is the probability that it never re-opens?
I got about 3% off my investment back Bugsy after the dilution. I could not afford to plough more money in. Real shame I will never see that initial outlay ever again.
The main sticking point is Baghdad going on and on like a demented Dalek about the contracts having to comply with Iraq state law, and the IOC's saying "Stuffu". It looks like all parties have agreed to fight about the fines etc separate from the pipeline being sorted. Would be nice to get a resolution before Christmas but I'm thinking January before some kind of face saving deal is found, APIKUR have offered to sell direct to SOMO, but Baghdad have forced themselves into a corner with some superbly inept manoeuvring.
A few for sure including me, still waiting for value to return here and have slowly rebuilt my investment taking advantage of the covid drop and recent pipeline closure.