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Ezhik please explain why that $4.6m isn’t enough.
Paul with all due respect this is what you posted
“It would seem AC is the problem Congo did not want to deal with him and Tunisia have seemingly taken the same stance. “
Then you change your argument that Congo being a bad place is the reason he didn’t get the license?.Makes no sense at all.If you’re going to deramp at least deramp properly with facts not baseless statements conjured up in your head.
Paul so you couldn’t answer the question as expected
Paul can you explain why you believe it was Acs fault that zenith were not awarded the license?..please explain your view
There are currently ample cases against the Congolese in terms of corruption.the arbitration court case win will also prove this.
Kazakhstan is indeed a significant player in the global oil and gas industry, possessing substantial oil reserves and being one of the top oil-producing countries in the world. The country has attracted international investment in its energy sector, and several major oil projects are underway.
Here are some factors that make Kazakhstan an attractive place for oil production:
Abundant Reserves: Kazakhstan has substantial oil reserves, particularly in the Tengiz and Kashagan oil fields. These reserves make it a key player in the global oil market.
Investment Opportunities: The Kazakh government has actively sought foreign investment in its energy sector. This has led to the involvement of major international oil and gas companies in exploration and production activities.
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Political Stability: Relative political stability compared to some other countries in the region makes Kazakhstan an attractive destination for oil production. A stable political environment is crucial for long-term investments in the energy sector.
Geopolitical Considerations: Kazakhstan's strategic location, bridging Europe and Asia, contributes to its importance in the global energy landscape. The country's geopolitical position can influence its relationships with key energy consumers and transit countries.
“ It is our intention to achieve circa 400 barrels of oil per day as a starting point prior to gradually scaling up production via field rehabilitation operations and the drilling of new wells made possible by acquiring an asset with a favourable geology and material reserves. “
400 bopd a good starting point
Courtesy of Marketgunslayer
This is an interesting RNS, that is probably more important for what it does not say than what it actually does and definitely raises more questions than it gives answers.
All the RNS does is inform us that €120,00 in costs against ETAP and that the court has rejected ETAP’s request to include the Tunisian State as a co-defendant. However, the very scale of the award to Zenith gives a clear indication of what is going on in the arbitration process. After all, the Paris Commercial court only awarded Zenith €30,000 from the SMP to Zenith back in July for what they described as "all the characteristics of a dilatory request". The ICC has awarded costs of four times that amount and this suggests that the court is extremely irritated by the behaviour of ETAP in the process so far.
It makes me wonder what on earth ETAP could be doing behind the scenes to annoy the court enough that they gave this judgement against them . the award connected to the fact that ETAP have tried to bring the Tunisian state into the arbitration or is it something else?
Whatever the reasoning behind the judgement, the very fact that the award has been issued certainly suggests that the process so far is going well for Zenith and badly for ETAP. And feels like it is a good sign of things to come.
The next step is of course going to be enforcing the judgement of the court, which will be another test of Zenith’s legal capabilities. Will ETAP simply pay the award or will Zenith have to enforce it? If they do have to enforce it will they be able to draw down the money from the $6.5 million of funds that they seized in Switzerland back in July this year?
As I said, today’s RNS definitely raises more questions than answers but it does give an indication that the arbitration is proceeding positively and the enforcement of the judgement will tell s a lot more as that news comes out.
We still need updates on Kazakhstan though.
Cattaneo going after the full $48m
Flash no one cares jog on
26-Oct-23 15:01:58 3.225 40,310 Buy* 1,300 O
26-Oct-23 12:00:17 3.19 36,050 Buy* 1,150 O
26-Oct-23 11:56:26 3.19 31,348 Buy* 1,000 O
Looks like business in Kazakhstan is much more straight forward than Africa
https://astanatimes.com/2023/10/kazakh-prime-minister-talks-oil-field-development-with-exxonmobil-executive/
Rpg7 they do this when longs are on margin and they want a clear out, sometimes they offload their own stock to wipe out the longs. It’s not even investors zenith Norway finished 2% up. The company is actually in the best place it’s been whilst at its bottom which provides a good entry for new investors. Just need the news now to get us out of this halt.
Florida they will have to eventually cough up I feel they will try to drag it out as long as they can
Ezhik - That’s a very big and negative supposition there based on one line of an RNS saying “subject to government approval”.
It is also clearly total nonsense when you look at the timeline. If the Tunisian government did not give them approval to operate the oil wells then why did they let them uplift the production back in July 2021 when Zenith released an RNS saying that they had sold 68,000 barrels of oil and received $4.5 million for it.
Clearly at this point in time approval for Zenith to operate and sell oil was in place as they were operating and selling. It was only later on that there became issues.
I see a lot of negative misinformation going on here. I do wonder why?
In summary, Kazakhstan offers significant opportunities for the oil business due to its abundant reserves, foreign investment-friendly policies, and strategic location. However, potential investors should be aware of the complexities of the legal and regulatory environment, as well as the challenges associated with political stability and environmental concerns. Conducting thorough research and seeking local expertise is crucial for success in the Kazakhstan oil sector.
Kazakhstan is a significant player in the global oil industry due to its abundant oil reserves and production capacity. The country is one of the top oil producers in the world and has attracted the attention of international oil companies. Here are some key aspects to consider when it comes to the oil business in Kazakhstan:
Abundant Oil Reserves: Kazakhstan possesses substantial oil reserves, primarily located in the western part of the country, particularly the Caspian Sea region. The Tengiz, Kashagan, and Karachaganak fields are among the largest oil fields in Kazakhstan, making it an attractive destination for oil exploration and production.
Foreign Investment: The Kazakhstan government has actively sought foreign investment in its oil and gas sector. This has led to partnerships between Kazakhstan and major international oil companies, such as Chevron, ExxonMobil, Shell, and Total, who have invested in various projects in the country.
Legal Framework: Kazakhstan has established a legal framework for the oil and gas industry, including production sharing agreements (PSAs) and taxation regimes that provide incentives for foreign investors. However, the legal environment can be complex, and navigating the regulatory landscape may require expertise in local regulations.
Infrastructure: Kazakhstan has invested in developing its oil and gas infrastructure, including pipelines, refineries, and export terminals. The country has multiple export routes, including pipelines to Russia and China, which provides flexibility for exporting oil.
Challenges: Doing business in Kazakhstan's oil sector may come with challenges. These can include bureaucratic hurdles, corruption concerns, and political stability issues. It's essential to conduct thorough due diligence and seek local legal counsel to navigate these challenges effectively.
Market Access: Kazakhstan's strategic location provides access to major markets in Europe and Asia, making it a potential hub for the transit and export of oil and gas products.
Environmental Regulations: Environmental regulations in Kazakhstan have been evolving, and there is increasing scrutiny on the environmental impact of oil and gas operations. Companies operating in the country must comply with these regulations and engage in sustainable practices.
Market Conditions: Like any other oil-producing nation, Kazakhstan's oil industry is influenced by global oil prices. Volatility in oil prices can have a significant impact on the profitability of oil businesses in the country.
Tide is turning brought 200k shares
Sudan Oil Exports Rising Despite Conflict
By Alex Kimani - Aug 14, 2023, 12:30 PM CDT
Crude exports by South Sudan have climbed to their highest level in almost two years despite an ongoing war between Sudan's government forces and a paramilitary group that erupted in April. Crude shipments now average 154,839 barrels per day, about double March's figure at 77,419 barrels per day.
Experts have grown increasingly worried that East Africa's oil hub will be plunged further into chaos and leave it without its main source of livelihood ever since clashes broke out between the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF) over demands by the army and pro-democracy groups for RSF to become integrated into the regular armed forces.
South Sudan gives ~10,000 barrels of crude per day to Sudan as transportation fees because the oil has to go through Sudan to reach Port Sudan where it is loaded into cargo ships. In effect, Sudan receives ~$20 million from South Sudan's oil every day. RSF has been demanding that South Sudan stop providing funds to the SAF, which might see the SAF retaliate by preventing the export of South Sudan's oil through Port Sudan, which it controls. With the situation in a stalemate, a complete meltdown would not only destabilize the region but also potentially lead to the collapse of the volatile state.
Sudan is the latest case of a well documented resource curse that tends to grip resource-rich nations in the poorer nations of the world.