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Hope the pipeline will open end of this month when it will be a year. The numerous is important in the region :)
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
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.