The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Iraq as reported on Bloomberg that Kurdish oil exports will take time is clear sign of continued lying.
They could have easily resolved this over a year ago but are not doing it by choice.
Now they are playing same trick by trying for yet more delays, who do they think they are fooling, they have no credibility left.
Hi Mendoza,
Quite frankly I don't believe its anything to do with the IOC contracts, that's the excuse they like to hide behind. The truth is its all about bringing Kurdistan under the heel of Iraq, and squashing all dreams of independence.
They could have easily tweaked the law to allow payments equivalent to our current contract terms. Indeed Iraq actually pays more to other oil companies so not unique.
However they do need Turkish water and Turkey wants Kurdish crude, as its also invested heavily in the Kurdish IOC's along with the Kurdish pipeline.
Clearly top of his list is Kurdistan oil exports, while water is clearly being held as a bargaining chip. Iraq has got plenty of "flunky", things for him to sign but clearly that's not why he's here.
Much more promising, light at tunnel end possibly. well worth a read.
https://www.kurdistan24.net/en/story/34657-Turkish-President-to-meet-Iraqi-PM-in-Baghdad,-key-agreements-expected
Believe it is a glimmer only, like to think more, but the Iraqi oil ministers are full of double dealing, while saying one thing but doing the opposite.
However Turkey does have a lot of money tied up in Kurdish IOC's and the export pipeline.
If Iraq is trying to rush the alternative pipeline into service the only reason is to try and hammer kurdistan more. Just unfortunate that the IOC's are pawns in the middle of the struggle.
Thanks for posting Blumagnet,
Knowing that meetings are about to take place, and also knowing full well the already seen strategy of Iraqi officials of blaming everyone bar themselves for deliberate cause of delay, they are clearing going on the record as saying they are fully willing to produce crude oil for export. Asking for their share of payment for crude that has already been sold for doing all the work, is clearly fair in anyone's eyes bar an embezzler.
Just stopping them from trying to blame the IOC's for the delay which they have already attempted to do in the press.
Time for them to come clean which most don't believe they will, while still trying to extort USA dollars for aid, while being the primary cause of hardship.
The Iraqi government has refrained from denouncing Iran's use of its airspace.
A spokesman for the Iran-backed Al Nujaba militia in Iraq criticised Baghdad after the attack, saying the intervention of US forces "undoubtedly embarrasses the Iraqi government, which seeks to take a clear position on the American military presence" in the country.
and link......
https://www.thenationalnews.com/news/mena/2024/04/15/iran-missiles-israel-iraq/
Its no secret that Iran arms all those proxy groups with Iranian religious views. Are you based in Iran Andy, make no mistake, every post here is read by paid individuals in those countries.. I can also prove that as well.
Its clear that some weapons were launched from Iraq, by groups armed by Iran with Iranian backing.
Some of the religious clerics are aligned with the Iranian ones along with many judges.
Noticeable that we have not had outrage that Iraqi airspace violated badly....
Also clear that the Iraqi military didn't try and shoot down the slow moving drones or even apprehend those launching them. Why not.... They were told not to,
Https://www.kurdistan24.net/en/story/34582-US:-Some-Weapons-Fired-from-Iraq,-as-it-Denounces-Iran%E2%80%99s-Attack-on-Israel
link that some weapons were fired from Iraq.
Crude oil already hit 6 month high today, following the overnight attacks on Israel. Some of the weapons used were fired from Iraq. Clearly by those controlled by Iran.
Iraqis now have a clear issue and problem, they have to either get rid of these militants or embrace Iran completely. Its also crystal to the world who is the country that's been stirring up all the trouble against Israel, and where all the arms have been coming from.
Doubt the average Iraqi, wanted attacks from its own soil, and clearly Iraqi airspace has been seriously violated.
Did Iraq actually try to prevent or shoot down these drones, or did they actually do, what they've been doing the last year, by paying lip service against the attacks, but actually doing the opposite.
Yep the lies the ministers have been saying the last year are clear for all to see. Talk of working with fellow countrymen in Kurdistan while all the time do the opposite.
They are the first to have their hands out trying to get USA dollars and aid.
Two faced and bent as hell.
Only 16 months or so to go.
Generally the more complexity a refinery is the heavier slate it can process at increasing profitability. For example reliance in India must have profits soaring through the roof currently. It had a complexity index (nelson rating), only second place in the world. It loves a very heavy slate like ours, and is currently binging on discounted Russian crude which its mixing then using the refined products to complete in Europe.
Our heavy crude is very valuable and any small discount it is sold at is pure profit the the big refiners. Such heavy crudes have more complex longer chain hydrocarbons which can be cracked . polymerised and converted to very valuable products indeed often with a 2000% mark up, from the original crude price ton for ton. I certainly believe our crude is being trucked out of the country because the margins fordoing so are excellent. We know who will be behind these operations and one of the reasons why there is a local heavy crude shortfall resulting in higher local prices.
Although I got abuse over my thoughts that stock would be offloaded, and made a strong case it most certainly does appear that I was correct. Another 2 million share sell just came through coupled with some other still hefty ones.
Hi Elrico,
Really great to hear from you, and thankyou for a balanced positive post. I certainly respect the work which you put in.
Another positive for holding is that Tyndall now have a large holding we would have full transparency if they wanted to say offload a wedge as they would have to release a holdings RNS, after any percentage change. Probably me being rightly suspicious as in the past and with other companies I've seen plenty of fund managers offload a portion if it generated a decent return just to keep their portfolio balanced. Can be an issue with any additional funds raise via stock, as companies tend to ask the larger current holders first, and some large holders do have internal regulation whereas they never become over exposed in any individual holdings, so if asked to take more often will but not for a very long period, either selling later to other big players which may or may not be as "safe hands", or gently easing onto the market. We've all seen stocks where this "overhang", as its referred too can delay any further price rises until sale fully completed.
What time period do you see before the first bit of game changing news is confirmed. Know patience is a virtue but it certainty tests even the most resolute of investors here.
More abuse I see, Some peeps only see the worst whereas it also means nice, beautiful and fair. Its also fair discussion on potential share price action in the foreseeable. Its also a surname used in the states.
Today we will see if they start to sell any of their new 7M shares bought at 6.5p. Good to see the confidence of investors believing they will hold onto the stock. As stated previously I'm of the opposite opinion that many fund managers cant resist an easy profit without over spooking the market.
Hi Roger,
Appreciate your posts and views, lets keep it all crossed this time. Got a decent amount of skin in the game on this one as I believe the rewards will be good for everyone once sorted out once and for all. Iraq needs foreign investment, and they want it to be balanced, not just all under Iranian, Russian and Chinese axis.
I strongly suspect that this is just another false dawn, with Barzani saying "initial agreement made on the oil issue", which in effect says nothing concrete and no different from words spoken a year ago. These fine words probably did originate from Baghdad ministers as they do find themselves in a tighter spot with Uncle Sam and Turkey, and attempts to blame the IOC's are just lies. It just gets them off their backs, when they have in effect done nothing concrete to actually resolve the issue like tweaking the oil and gas law to allow higher crude payments than currently exist.
I expect the IOC's or their reps haven't even been approached.
Love it to have truth behind it, but see too many false dawns like this so lets treat with a huge pinch of salt until we see actual achieved facts and results. 95% chance here that its just BS.
Still nothing achieved despite some willing from some parties for a resolution still has to be ratified by Iranian sympathisers in Baghdad who will do Iran's wishes.