Member Info for GRH1-returns

Rudaw: What is the opinion of the Oil Ministry on the oil contracts in the Kurdistan Region?

Hayan Abdul Ghani: We have met with the companies and now we have formed a committee from both sides to review these contracts. The review is not yet complete, but we have agreed that SOMO will export Iraqi oil at the same price it sells it on the world market.

Rudaw: What do you mean by reviewing the contracts?

Hayyan Abdul Ghani: Maybe, we don't know what the contracts include. They are now being investigated. If there are any conditions in the contracts that need to be amended, they will be amended by mutual agreement.

On Thursday (June 1, 2023), Iraqi Oil Minister Hayan Abdul Ghani told Radio Marbad, a local radio station in Basra province, that Kurdistan oil exports are scheduled to resume within the next 10 days. 2023. "It is not clear when Kurdistan oil exports will resume, but talks are ongoing," a senior Iraqi government source told Rudaw.

"The Iraqi Oil and Gas Law will also resolve the issues between the Kurdistan Region and the central and provinces. This issue has been a source of intense discussions between the Kurdistan Region and Iraq for some time It is scheduled to be completed as soon as possible.”

hTTp://www.rudaw.net/sorani/business/040620232

He also said:

Oil minister: The required amount that Iraq has been unable yet to meet (in reference to producing below their opec quota) we will, god willing, in the next few days produce.

Interviewer: From what oilfield ?

Oil minister: The suspension of oil exports from Kirkuk and the Kurdistan region will not continue. There are negotiations with the Turkish side to resume this.

“Https://www.marinetraffic.com/en/ais/details/ports/1689?name=CEYHAN&country=Turkey

I know next to nothing about this, but isn't the Yamato Spirit parked up as of now?”

Nope. That’s the wrong Jetty for KRG oil. That ship was loading oil from the Baku pipeline.

““The emergence of M&A activities in the region should not come as a surprise.”

https://afalhajji.substack.com/p/daily-energy-report-57f?r=1vkr3y

This persons knows a lot more about the region then you ever will CCC

£100 a share is my target

Breaking - "Iraqi Parliament session to vote on 2023 budget bill has been postponed indefinitely Deputy Speaker Shakhawan Abdullah told Rudaw."

Quite right too. They need to get that dopey Finance Committee and their ridiculous amendments sorted out.

hTTps://m.facebook.com/RudawEnglish/photos/a.179486058825972/6170002443107607/?type=3&source=57&__tn__=EH-R

Big trades in Genel today. CEO buying again?

“Right now the company needs the money to survive. As I have said before, the KRG has your dividend...”

Don’t you mean ‘our’ dividend Putup? Or did you forget you were meant to be a shareholder for a second ?

Probably all the scared retail that fall for all the scaremongering posts written by trolls on here.

KRG paid when the isis crisis hit
KRG paid when the coronavirus crisis hit (and oil price went negative)

I find it hard to believe that the KRG will not pay past invoices, since this new deal with Baghdad actually sees them making MORE revenue per barrel than they had done previously.

You're getting excited again broadfraud, and when you get excited your imagination tends to run away with you.

Best to just wait and see like the rest of us.

"An Iraqi oil ministry official with knowledge of the meeting said the aim was to reassure the companies that their deals with the Kurdistan Regional Government (KRG) were secure."

Reuters 6th April:- "Oil bosses join Baghdad talks in sign of Iraq-Kurdistan progress.

When Iraqi and Kurdish officials met in Baghdad this week over a long-running dispute that has halted oil exports from Iraq's semi-autonomous region of Kurdistan, insiders said the presence of international executives underscored a new resolve.

In the room on Monday was Russell Hardy, head of the worlds largest oil trader Vitol, alongside executives from trading houses Petraco and Energopole, and representatives from U.S.-based producer HKN Energy and Kurdish oil company KAR Group, three sources familiar with the talks told Reuters.

The executives, whose companies play a major role in Kurdish oil production and development, were there to offer ideas on the best way forward, the sources said.

An Iraqi oil ministry official with knowledge of the meeting said the aim was to reassure the companies that their deals with the Kurdistan Regional Government (KRG) were secure.

"Everyone is trying to compromise. It is massive for internal Iraqi politics. The federal government wants to keep the whole country together after years of problems," a source familiar with the talks said.

In a bid to boost Iraqi oil output, politicians close to al-Sudani and key energy officials say he wants to restore confidence among foreign investors and show Baghdad's readiness to cooperate with international oil firms, including attending all major energy events in person.

Attendees at Monday's meeting agreed to hold further talks on how to adjust contracts with the KRG in a way that would not violate the exports and marketing mechanisms of Iraq's state-owned marketer SOMO, the oil ministry source said."

https://www.shafaq.com/en/Report/Analysis-Oil-bosses-join-Baghdad-talks-in-sign-of-Iraq-Kurdistan-progress

In the event of a (positive) change to the PSC terms being announced within the next few days, such as increase price per barrel received, being paid to on time by SOMO and the fact our exports have been legalised and legitimatised for the first time in 15 years, there could be a very severe upwards price correction on the cards.
Depending upon the terms being altered, such a correction could be sharp and drawn out.
I trust you are all well prepared. I am.

KRG OIL WILL NOT BE SOLD TO ASIA UNDER EMERGING AGREEMENT BETWEEN BAGHDAD AND ERBIL

https://www.marketscreener.com/amp/news/latest/KRG-OIL-WILL-NOT-BE-SOLD-TO-ASIA-UNDER-EMERGING-AGREEMENT-BETWEE-8230--43523379/

KRG CRUDE WILL BE PRICED AGAINST KIRKUK OFFICIAL SELLING PRICES UNDER PLANNED DEAL - SOURCES

https://www.marketscreener.com/amp/news/latest/KRG-CRUDE-WILL-BE-PRICED-AGAINST-KIRKUK-OFFICIAL-SELLING-PRICES-8230--43523378/

“BTRSTF coming up....”

Big, Thumping Rise. Silly Trolls Faltering …?

Sorry theory I have tried to look for it but Advfn isn’t letting me go months back on the posts. You can edit posts over there too so he’s probably scurried back to edit it anyway.

I clearly remember him posting it as he was absolutely ridiculed for it. Guess he didn’t have the *******s to post it here.

I never really listened to your opinion in the past BB, but I certainly won’t be after you posted on ADVFN a few months ago that you think the Iraqi army would invade Kurdistan and take their oilfields by force. LOL

“As the suspension of around 450,000 b/d from northern Iraq drags on, this will give Baghdad more leverage over oil companies operating in the semi-autonomous Kurdistan Regional Government (KRG). The emergence of M&A activities in the region should not come as a surprise”

https://afalhajji.substack.com/p/daily-energy-report-57f?r=1vkr3y&utm_campaign=post&utm_medium=web

Well….. well…… well

Looks like a consolidation of the KRG oil sector could well be on the cards.