Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Any number crunchers on the board want to put a fair value on the Co. at $20/barrel? I've picked-out the speedboat which I want but I'm still dining at Wetherspoons, would like to know if this is how my life ends, thanks in advance.
1200 words, not pages! Although there probably is 1200 pages on the subject in Baghdad they've been dithering for so long. :-)
" Whilst Iran has been launching rocket attacks on Iraqi Kurdistan there are signs of a breakthrough in Baghdad that suggest a deal with the KRG might be near."
1200 page article, would be interested to read why they think a deal is afoot, if someone wants to register. Site won't accept Hotmail, wants your work address.
https://www.mees.com/2022/10/7/geopolitical-risk/iran-strikes-kurdistan-as-baghdad-offers-olive-branch/c5e483e0-4628-11ed-b0d7-6b260c3bcdad
So 9 to 10 quid a share for GKP based on flowing barrels.
I'll take it.
From Twitter 18-8-22
Diyar Kurda @diyarkurda
3 members of Congress signed a bipartisan letter to @StateDept, urge @SecBlinken to engage #Erbil & #Baghdad to help resolve the oil & gas dispute, & ensuring the KRI’s autonomy & economic rights.
Days ago @SFRCdems sent a similar letter to @SecBlinken
#kurds @KRGDIT #energy #oil https://t.co/0Fn5c8UKnd
“This is an internal issue of [Iraq], and the media has exaggerated the disputes,” he added.
This is a face-saving comment and sounds like he's setting the scene for a partial climb down in order to reach compromise. V positive.
https://www.basnews.com/en/babat/768146#.Yu-sT35Q8dM
ERBIL — The Iraqi Oil Ministry and Kurdistan Region’s Ministry of Natural Resources are in close contact to find a solution to their prolonged disputes over the autonomous region’s oil and gas industry, Iraqi Oil Minister Ihsan Abduljabbar said.
Earlier this year, Iraq’s Supreme Federal Court issued a ruling to deem Kurdistan Region’s oil exports “unconstitutional”. The ruling was soon rejected by Erbil which said the court itself lacked constitutional bases and that the decision was politicized.
Minister AbdulJabbar told Sabah Newspaper on Sunday that the Kurdistan Region is allowed by the Constitution to extract and export oil from new oil wells. However, he said, the court ruling demands Erbil to send all the oil revenues to the federal government in Baghdad.
“The Oil Ministry is working to find a legal solution in order to end the disputes between the two sides,” Abduljabbar said.
“This is an internal issue of [Iraq], and the media has exaggerated the disputes,” he added.
-10% for the Ex Divi, -4% as the oil sector.
Looks ugly but is it that unexpected?
"Seeing as the defendants did not show up at the court for today's session, we have decided to postpone it to June 9,"
Where's that Benny Hill Show music when you need it? A couple of judges, some oil company execs and a french maid or two (always french maids).
What a farce.
Hmmm...I did think that the Security Council wouldn't concern itself with such issues but put this down to a translational flaw.
There does seem to be much skullduggery going on with false reports, what with this and the seizure of oil fields which didn't happen, a marked, recent, change. Wonder what the reasoning is behind it?
Sunday, 22 May, 2022 - 10:15
The Presidency of the Kurdistan Region in Iraq announced that the Security Council approved a request submitted by Erbil to send a UN envoy to organize the relationship with Baghdad and find radical solutions for their differences.
https://english.aawsat.com/home/article/3659361/erbil-requests-un-envoy-organize-relations-iraq
SULAIMANI — The Kurdistan Regional Government (KRG) said on Sunday (May 8) the KRG will respond to the Iraqi Oil Ministry next week regarding the federal court’s ruling on the KRG oil and gas law.
The KRG said Baghdad has prepared a protocol to solve the oil issues and the KRG will continue their discussion with Baghdad based on the constitution.
On Saturday, Iraq’s Minister of Oil, Ihsan Abdul-Jabbar, said the federal government would proceed with implementing the federal court’s ruling from February regarding the Kurdistan Region’s oil and gas law
Abdul-Jabbar said the process of administrating the oil file should be in partnership between Baghdad and the Region.
The Federal Supreme Court issued a verdict in February that the KRG’s law on the independent sale of the Region’s oil and natural gas was against the Iraqi constitution.
https://nrttv.com/En/detail6/3355
One would hope that the IOCs that have turned their backs on Russia would be looking for new acquisitions in other regions to maintain capacity. I'm yet to hear rumblings of this though, maybe too soon. Surely there must be a tactic to encourage potential bidders out of the woodwork though. Getting paid in the oil they produce would be a wise move if it could be negotiated, avoid the persistent delayed-payment issue.
Just like a 45 year old divorcee with 5 kids by 19 different men, gkp should put on too much lipstick, a short skirt & heels and hang around the Wetherspoons which Shell and Equinor go drinking in.
Almost 13 years!...All I wanted was a speedboat.
"Erdogan on Wednesday met Nachirvan Barzani, the president of Iraq's semi-autonomous Kurdish region. Asked what was discussed, Erdogan said Ankara wants to sign a natural gas supply deal with Iraq and is holding talks on this." https://www.reuters.com/world/middle-east/erdogan-says-turkey-israel-can-jointly-bring-gas-europe-media-2022-02-04/ ---------------------------------------------------------------------------------------------------------------------------------------------------------------------Looks like Europe are rapidly learning a lesson about not putting too many of their eggs in the Russian gas basket, they'll be eager to switch to gas supplies from other markets, even if the bombs don't start dropping in the Ukraine. Enter Erdogan and his regional energy hub; transit fees levied on massive European energy demand, money for nothing. Nice. For the ICG to capitalise on this massive snouts-at-the-trough opportunity though, there will have to be a constructive partnership on energy with the KRG. This could potentially happen pretty quickly with tens of billions of Euros at stake (yes, I know, biscuits, false dawns, not a chance, etc). The issue certainly will focus minds though.
A reminder:
Harry Istepanian
@HarryIstepanian
·
Feb 12
Court hearing of KRG/Ashti Hawrami vs. Dynasty oil company of US$1.6 billion-plus lawsuit for unlawful intimidation is concluded in London. Verdict is expected in 2 months time.
8 hours ago
SULAIMANI — Iraq’s Council of Representatives will not take up the 2021 Federal Budget Law on Monday during a scheduled session as had been anticipated.
The postponement also means that a delegation from the Kurdistan Regional Government (KRG) will not travel to Baghdad for the session.
Second Deputy Speaker of the Council of Representatives Bashir Haddad said on Sunday (March 14) that the parliamentary session will instead focus on the draft Federal Court Law.
During a press conference, Haddad argued that disagreements between Erbil and Baghdad over the Region’s budget share are not the primary reason why the budget bill has not moved forward, suggesting that other issues including disagreements between the Sunni and Shia blocs were to blame.
The KRG and the federal government have been involved in tense negotiations over the budget for nearly a year, several times announcing the outlines of an agreement only to have politicians pull back from actually moving forward with implementation.
A member of the Kurdistan Democratic Party (KDP), Haddad sought to cast a positive light on these presumptive agreements, saying it showed Erbil’s willingness to make a deal. He said that some parties were trying to amend the legislation in ways that are unconstitutional and that they were delaying passage of the bill in order to precipitate the fall of the Iraqi Prime Minister Mustafa al-Kadhimi’s government.
On Saturday, Former Deputy Minister of Finance Fazil Nabi told NRT that if the price of oil is fixed above $65 per barrel, the Kurdistan Region can pay public sector workers without reaching a budget agreement with Baghdad.
“The Region…should not distance itself from Baghdad until it becomes a state,” he cautioned however.
(NRT Digital Media)
-----------------------------------------------------
Glad I didn't get too excited.
New statement on the budget: the possibility of resolving it tomorrow’s session
3/14/2021 11:02
A deputy in the House of Representatives suggested, on Sunday, that the budget law will be resolved during the parliament session tomorrow.
Fadel Al-Fatlawi, a member of the council, said: “I think there is a possibility to settle the budget in Monday’s session, especially with the ongoing dialogues with the Kurds that have reached their final stages.”
He added, “5 trillion dinars have been allocated within the budget to increase those covered by the social care network, that is, an increase of 50 thousand for the beneficiaries from it, with an addition of 2 trillion dinars from the previous budget.”
alliraqnews.com
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I won't get too excited, just yet
It will be interesting to see if the dynamic between the KRG and the Oil companies changes next month if Hawrami/KRG lose the case brought by Dynasty. If there's a crippling payout awarded against the KRG and, as we suspect, they've been responsible for all manner of contractual skullduggery, the relationship between the parties could well change. The KRG may start to fear copycat actions with a high degree of success being brought against them by the operators. An incentive to keep the licence operators sweet one might hope.
03/05/2021 (Baghdad: Al Furat News) The Speaker of Parliament, Muhammad Al-Halbousi, confirmed, on Thursday, the parliament’s keenness to proceed with the laws that were suspended in previous sessions, most notably the Federal Supreme Court Law, which was suspended throughout previous sessions.
In a statement, Al-Furat News Agency received a copy of it today, Al-Halbousi said, “There is insistence from members of the House of Representatives to proceed with legislative measures to complete the Federal Supreme Court Law.” Being sensitive and related to the composition of the court and the decision-making mechanism.
He indicated that “successive meetings will be held with the heads of political forces and the legal committee, and these meetings will be chaired by the presidency of the Council, to reach common points.”
He pointed out that “next Monday has been set as the date for voting on the rest of the articles of this law,” stressing that “the draft budget law will be within the coming days within the council’s agenda to vote on it.”
He stressed that “there are a number of stalled laws that the council will proceed to legislate, such as the oil and gas law, which is one of the laws stipulated in the constitution, which will address the mechanism of dealing between Baghdad and Erbil and between Baghdad and the rest of the oil-producing provinces, and the law will be one of the council’s next priorities.”
alforatnews.com
From Twitter:
Hawkar Sardar ?????? ?????
@SardarHawkar
As expected, no agreement has reached with #Baghdad , the Kurdish delegate will return to #Erbil ...
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So what's the KRG's plan B which they alluded to? Shaikan to the Chinese?