Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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By Mohi Narayan and Katya Golubkova
NEW DELHI (Reuters) -Oil prices were little changed after a 3% drop in the previous session as the market remains concerned about demand this year and on signs that a wider conflict in the key Middle East producing region could be avoided.
Brent futures were up 13 cents, or 0.15%, at $87.42 a barrel, while U.S. West Texas Intermediate (WTI) crude futures traded 6 cents higher, up 0.07%, at $82.75 a barrel at 0636 GMT.
The two benchmarks slid 3% in the previous session on signs that fuel demand this year is lower than expected amid flagging economic growth in China and as oil inventories in the U.S., the world's biggest crude consumer, rose.
Analysts at JP Morgan highlighted in a note late on Tuesday that worldwide oil consumption so far in April has been 200,000 barrels per day (bpd) below its forecast, averaging 101 million bpd. From the start of the year, demand has risen by 1.7 million bpd, down from its forecast in November of 2 million bpd.
At the same time, investors are discounting the chance that Israel will strongly retaliate against Iran's missile and drone attack on April 13, which was prompted by Israel's alleged killing of Iranian military leaders at a Syrian diplomatic site on April 1.
Iran is the third-largest producer in the Organization of the Petroleum Exporting Countries, according to Reuters data, and an easing of its conflict with Israel would reduce the potential for supply disruptions in the Middle East.
Brent is now back to levels before the April 1 attack on the Iranian consulate, suggesting that the latest bout of risk premium from heightened Israel-Iran tensions has eroded," said Vandana Hari, founder of oil market analysis provider Vanda Insights.
Surging U.S. crude inventories also kept a lid on prices. Oil inventories rose by 2.7 million barrels to 460 million barrels in the week ending April 12, the Energy Information Administration said, nearly double analysts' expectations in a Reuters poll for a 1.4 million-barrel build.
Stockpiles built as refinery utilization declined at a time when processing typically rises ahead of summer driving demand in the U.S.
Gasoline stocks fell by 1.2 million barrels in the week to 227.4 million barrels, the EIA said
Distillate stockpiles, which include diesel and heating oil, fell by 2.8 million barrels to 115 million barrels, versus expectations for a 300,000-barrel drop, the EIA data showed.
A bearish EIA inventory report appears to have been the perfect opportunity for investors to lock in profits after the recent gains," Daniel Hynes, the senior commodity strategist at ANZ, said in a note on Thursday.
Itsaponzi You seem to have woken up with regards to facts that I for one and many others on this forum have been considering for several months.
In short you are the worm that seems to be turning after your previous tripe has been proven to be utter nonsense. . So don’t come on here now in the pretence that you are clever when the reverse us true. Only one day ago you were confidently predicting doom and gloom as usual and 90 p shares. I just purchased a chunk for 114.
Iraqi Oil Minister said that the Kurdistan Regional Government (KRG) will soon re-export oil through the Iraqi Oil Marketing Company (SOMO).
The word soon in Iraq could mean days weeks months or years. I will take that with a pinch of salt.
But IMHO something is definitely happening but the main stumbling block are IOCs contracts . Obviously Iraq want to screw the ioc . Probably less profit from local sales. So best hang it out till September 2025. Independents baby
What’s that about if it wasn’t something that most of the more thoughtful people on here have long considered.
Itsaponzi has your brain finally caught up with others here. And will you stop beating KRG down.
The fact is over many years of turmoil GKP gave demonstrated their ability to survive and thrive in the difficult and troubled area of Iraq. They will do so again it’s only a matter of TIME.
Um? Sounds more positive than previous ‘dawns’ Blumagnet. If I get the chance @ 112 or thereabouts first thing this morning I’ll buy a substantial day / or thereabouts Trade.
Https://www.kurdistan24.net/en/story/34616-Iraq,-Kurdistan-Region-in-talks-to-resume-oil-exports,-says-Iraqi-Oil-Minister
And its official because the deals are done and resumption of exports is no longer needed as a bargaining chip.
Im sure we will be get some comment from ponzi, but lets see how the market reacts in the morning....
But now it’s official…. and the reason why they are requested is stated.
Like they haven't had copies of the contracts for months already...
Https://www.kurdistan24.net/en/story/34611-Turkish-President-to-visit-Iraq-on-April-22
Turkish President Erdogan is scheduled to arrive in Baghdad next Monday, with one of the key agenda items being "natural gas and oil flow," according to his own statement. Several reports suggest that Erdogan not only seeks the resumption of oil exports from the KRG but also aims to secure Kurdistan's natural gas for export to Turkey as soon as possible, especially with apparent U.S. backing.
While Iraq has been preparing to resume oil exports from Kirkuk to Turkey, Erdogan likely prefers resuming exports through the KRG's pipeline, as Turkey has a 50-year contract with the KRG on favorable economic and security terms, with Turkish firms earning over $1 billion annually, in addition to other perks such as holding sway over the KRG's ties with the PKK.
However, Erdogan's interests extend beyond oil to the KRG's natural gas. This would reduce Turkey's dependence on Russian gas for energy consumption and position Turkey as a key gas hub for Europe, substantially increasing its geopolitical clout, in addition to further Turkish influence over the Kurdistan Region.
Erdogan holds several powerful cards against Iraq to push for his demands, the most significant being water. Iraq desperately wants more water from the Euphrates and Tigris rivers, which Turkey has gained substantial control over through the construction of several massive dams.
According to informed sources, the 50-year agreement signed by Nechirvan Barzani with Erdogan in 2014 reportedly includes the following terms:
- Turkish companies operating in the Kurdistan Region will be given priority in the KRG oil sector.
- For the next 50 years, Turkey will receive $1 per barrel of oil sold.
- The KRG's oil revenue will be deposited and exchanged at Turkey's Halk Bank.
- The KRG oil pipeline will be guarded by Turkey, with fees paid from the KRG's oil revenue.
- The KRG will lease seven large oil reservoirs at Turkey's Ceyhan Port, with rent paid from its oil revenue.
- The agreement sets the framework for the KRG's relations with the Syrian Kurdish SDF and the PKK.
- Critics claim the agreement's political dimension is to maintain the KDP's power and continue its leaders' rule in the Kurdistan Region with Ankara's support.
- Unofficial reports suggest the Erdogan family is the primary beneficiary of this agreement's proceeds from the Turkish side.
It looks to me like something is going to happen very soon
Hmmmm - tentatively optimistic, the right people are making the right noises.
So 48 hours after the Biden / Sudani meeting, deals have been done, political barriers have been cleared, and now they get the agreements done....
Oil Minister said that the Kurdistan Regional Government (KRG) will soon re-export oil through the Iraqi Oil Marketing Company (SOMO).... Iraqi Oil Ministry has said it is "necessary" for the KRG to provide copies of contracts with IOCs, so that they can be investigated and adapted to the Iraqi constitution.
https://x.com/john78846295/status/1780649007800275302
Like 2016...
Https://www.rudaw.net/english/business/16042024
Not sure if this has already been posted on here, it all sounds very positive
PS I do agree ALSO on posters stance that GKP are liquid and generating income.
GKP have survived through incredible difficulties times in the past.
Again GLA
rgds Sft
What we have to consider is the % of retail (private) investors that GKP have in relation to institutional and the directors.
Looking at Simpley Wall St
Ownership Breakdown
Employee Share Scheme 0.18% 400,000 shares
Individual Insiders 10.6% 23,630,617 shares
Hedge Funds 14.6% 32,549,217 shares
Institutions 26.3% 58,410,062 shares
General Public 48.3% 107,253,104 shares
Obviously not being sure how many of the 48.3% are on here, but I would imagine the information platforms like Motley fool Simpley Wall Stret, Morning Star etc etc coupled with share specific chat rooms DO have a significant influence, especially when there is a large amount of share held in the retail/ general public hands.
I post on here to pose opinions/ questions ( that's the point of being here) and welcome positive and negative comments. You have to balance the opinions when considering day trading and long term holding.
Several posters on here ( more experienced imo) hold a combination of day trading and longterm but may shift according to precived longterm risk or gain.
Especially with a company that use to provide a very good dividend.
For clarity, I currently day trade GKP BUT did hold a longer term prior, but exited to fund another investment, and came back in in September, then November and January (NOT March unfortunately!)
I am out presently and now remain unsure as to how GPK will pan out but am leaning towards Ponzi thought process and the repairs and planned opening of the Kirkuk-Ceyhan pipeline, is certainly being used as the latest stick to beat the kurds further down.
GKP has always been an interesting share.
GLA
Rgds Sft
Seems like Isaponz is wrong as usual. Obviously doesn’t put money where the big mouth is and prefers to aim snide comments at others in preference to posting interesting or useful opinions. Clearly in fear that investors with money to spend and the balls to take adult risks might be rewarded. Jealousy.
Personally I’m on hold pending the probability that Erdogan will turn up this time and the leaders of both nations will pretend it’s all sweetness and love via an agreement. We shall see, if not GKP remains cash rich and profitable.
They think they can but Motley foolish writing negative articles will definitely move the share price. Even though its lies like a cheap watch
I'm curious. Do you really think a small bunch of weirdos on here can 'ramp' or move a share price?
Will 108p hold ?
Looking by the selling yesterday I don't think so!! If 105p goes today expect a visit to 97p and if that goes we could see 80s . Over to the rampers from last week.
The pipeline isn't opening that's a fact now . Local sales keep the lights on. GKP will just sit out until the 25th September 2025 it's the only logical thing to do now. Independents baby and no more Iraq.
Remaining at 108/109p no one know which way to jump: Will people go for the safe bet and trigger a slip or is the price set now for the continued income without the PL being open????
Rgds Sft