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https://gop-foreignaffairs.house.gov/press-release/mccaul-sends-letter-to-secretary-blinken-urging-engagement-with-iraqi-leaders/

US are turning up the pressure for a conclusion to the political deadlock and no doubt oil law issues holding back the rapid development of the hydrocarbon fields we are witnessing a changing political and energy world order which Kurdistan and GKP could soon benefit from and a momentum seems to get building

https://www.zerohedge.com/markets/occidental-soars-after-filing-shows-buffett-seeking-50-stake

Warren Buffett increasing his positions in oil stocks he had been around a long time and has seen it all before the oil bull market only getting started he is often early to the trend and other managers will be watching his lead mergers and acquisitions are likely to be on the not to distance horizon

https://twitter.com/contrarian8888/status/1560222517909938177?s=21&t=dQe3bNtxS9Cugwl0at2o6A

Public service announcement: only ~ 75 days left to go of SPR release (coincidentally ends 8 days before the US midterms)! Will mark the end of the largest release in history.
Millions of barrels artificially underpinning supply soon to be exhausted the long trade on crude oil will soon be back in play

https://www.bnnbloomberg.ca/market-call/eric-nuttall-s-market-outlook~2500942
Another interesting interview with the energy fund manager Gas equivalent oil price per barrel differential means it’s cost effective to convert power stations to use fuel oils as a replacement to gas Europe will need to establish that energy security network the political infighting around Kurdistan and Iraq is likely because the time to ramp up exploration and field development with IOC’s investment has arrived

https://youtu.be/G9Q0Me8VO7Y

Worth a few mins to view the disconnect between fear of peak demand and reality of the need to increase supply is likely to get a reality check

https://www.zerohedge.com/energy/goldman-warns-oil-down-not-out-good-bad-ugly-energy-complex
When the commodity traders return back to their desks after a long and expensive summer recess reality will return to the oil space oil supply still being manipulated by releasing strategic petroleum reserves once this comes to a natural end the organic reality of limited capacity in the energy sector returns

https://youtu.be/qmpJ0QtyaIY

Worth a look and covers why the Middle East need the IOC’ s investment to maintain and increase oil production revenues going it alone is not an option also the massive complexity of the global energy infrastructure is going to take multiple generations to replace if ever fully substituted oils is most definitely here to stay , no sign of over investment into shale production in the US they are not likely to bankrupt themselves again the need for large scale investment should hopefully transcend political differences between Iraq and Kurdistan

https://gov.krd/english/government/the-prime-minister/activities/posts/2022/july/prime-minister-masrour-barzani-meets-with-prime-minister-mustafa-al-kadhimi/

Also lots of positive chat on Twitter hopefully they will seize the moment and realise the potential to become a strategic Energy provider to Europe

https://www.zerohedge.com/energy/gazprom-iran-sign-tentative-40bn-energy-deal-russia-threatens-europe-gas-supply
Russia and Iran trying to prevent Kurdistan stepping in and being aggressively developed to supply The European energy vacuum the big question is are the US going’s to allow this to happen with so much invested the joint European action against Russia

https://www.france24.com/en/live-news/20220718-oil-dispute-sharpens-baghdad-kurd-tensions-amid-deadlock
The pressure must be building in the background and the people close to the situation likely know Kurdistan is going to targeted for further hydrocarbon developed and with the US statement which reconfirmed its commitment to not having a power vacuum in the region the compromise could be on the horizon

https://www.energyintel.com/00000182-0799-d9a9-afb6-2fbd6e250000
The world slowly wakes up to the reality we are fundamentally and economically reliant on hydrocarbons time to invest in the underdeveloped fields also American seems to be shifting its stance on the Iran negotiation which may tip the political pressure in Iraq in GKP’s favour

There are times when the financial demand for oil implodes while the physical demand for oil remains strong. This is one of those times. Tune out the noise: the market remains undersupplied, SPR ends in 3 months, China will unlock one day, & OPEC spare capacity exhaustion cometh

OIL MARKET: Another hefty SPR weekly drawdown of 6.9 million barrels (or ~985,000 b/d), based on preliminary DoE data. At 485.1 million barrels, the SPR is at its lowest since August 1985.

Interestingly, **the whole of the weekly release was in the form of sour barrels** #OOTT

The only real long term solution is to rapidly develop fields with access into Europe at some point the pressure will reach tipping point money and the need for Energy security will transcend local politics this is a global issue

https://www.energyintel.com/00000181-d3f0-d598-a183-f7faa1740000
The realisation that the global economy needs long term investment in hydrocarbons fields with potential upside must be the main focal point in the boardrooms of IOC’s

https://seekingalpha.com/article/4522259-the-oil-market-is-in-the-process-of-testing-the-lower-band-and-why-its-so-important-for-energy-investors

Good read and makes sense the recent volatility in the oil prices and oil stocks could just be a function of price finding support and traders gaining confidence in the sector also worth noting an element of supply in the system is not sustainable that’s the releases from the strategic reserves which has been aggressively tapped by the Biden administration it will need to be replenish at some point in the future

https://www.reuters.com/article/berkshire-occidental-idUSKBN2OD01R

One of the most successful and smartest investment managers the world has seen building controlling stakes in hydrocarbon companies other funds suffering massive drawdown in the tech sector they will have to face reality hydrocarbons are going to be fundamental to society for generations to come time to rotate into this sector which is very undervalued in equity terms

https://www.marketwatch.com/story/exxon-says-rising-oil-and-gas-prices-will-net-it-a-q2-windfall-profit-of-at-least-2-5-billion-11656712629

The second quarter reporting session starts shortly the super majors and going to be swimming in cash building substantial war chests for future investment

http://www.bnnbloomberg.ca/video/generalists-don-t-understand-this-is-the-tightest-oil-market-in-decades-eric-nuttall~2475933
Worth a few minutes to watch another energy fund manager video this is just the start of the commodity bull cycle most funds are very underweight energy stocks the pull ins into range will be bought the new NATO alliance underlines the European energy’s needs for new long term strategic supply Kurdistan and GKP are well placed to be part of this

Worth

https://www.reuters.com/business/energy/shell-ceo-says-spare-capacity-is-running-very-low-2022-06-29/
Years of underinvestment and a intellectual misconception in the political and financial class has left the globe energy market at risk of peak supply and increased demand with limited capacity large hydrocarbon fields need big players with big investment power to unlock future capacity it’s time for companies like GKP to step aside it’s stakeholders being well compensated