Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Baghdad has already requested Turkey to start pumping many months ago. Only question remaining is when will IOCs pump. They want to know how they will be paid given they get instant cash locally. KRG will have to pay on better terms than in the past. Pressure if building and not just in the pipeline.
Shorts are still reporting at 1.2%. Must feel very risky now with current newsflow. Wonder how the exit strategy will work?
Surrey, still keeping a watching brief on GKP.
Good question. Where is the link? No link means FUD.
Recall predicted that pipeline testing would take 7 days. Predicted this 7 days ago. Where's my pat on the back. Lol.
PUTUP's tip at 81p was pretty good too. Thanks ;)
Turkey air strike on PKK is interesting development. No Turkey could hit Iraq without NATO and KRG blessing. All sides agree that PKK are Iran backed terrorists. So this gives a very clear signal that Iran meddling in Iraq will not be tolerated. US probably said that it would be OK as long a pipeline is opened. And after strike Turkey is saying pipeline can be opened.
All this would also be consistent with message that Russia and China are not welcome in Iraq.
Desperate FUD from the Goldstein fella.
Have to question how the $30 per barrel local price has been arrived at. With oil at $95 then the mark is massive and obviously very tempting for the local smugglers.
So the question is how is pipeline testing conducted. Presumably it must be a joint test with Turkey, Iraq and Kurds. Turkey have claimed the pipeline might have been damaged by the quake. Also Iraq will want to know that all the oil that is put into the pipe appears at the other end and is not siphoned off somewhere.
How long will it take for oil to flow from one side to the other? A week? Also IOC must have ok'd to pump the oil and of course expect to get paid.
So if result of testing is that all the oil has been received then Turkey can no longer argue that there is a technical issue. They are legally required to open the pipeline. It's coming to a head.
Anybody could write the Argus article based on new 2 weeks ago. We are all aware of how misinformation can work in the market these days.
Yawn.
No need to call GKP. JH made it clear in the presentation.
So all agreed GKP can keep the full 11m the make on selling 33kbpd.
Phew lots of detailed stuff. Almost desperate.
Phew PUT is supporting Strays statement but can't even see why.
GKP made a strong statement that they are preserving cash and holding back on payables. Pretty clear stuff.
Dealz did you miss JH statement that local demand is high and now they are delivering through the pipeline. So don't have have the 42k truck constraint.
Also they need to fill the pipeline for testing purposes. So will need to ramp up to 55k pretty fast to sell local and fill pipe. Expect next RNS will be to say pumping at full rate.
TZ yep. The pipeline news flows suggest there are only a few days left to get positioned. There will be a lot of volatility. Hard to say where all the dips will be at but plenty of opportunity
Have to question why MMs are dropping the price by 10% when there are more buys then sells. MMs only care about getting high volumes as they take a % cut of trades. Only explanation is there must be a large buy order at a certain price and they are keen to fill it. So they dip down for the stop losses pick up the shares and offload to the buyer. Nice business eh?