Member Info for Invstrat

Must not forget to include the rullers’ divine right to pilferring and non-payments Paul1828.
Once that is agreed during the current meetings, taps will be opened and the natural state of equilibrium will return to the region.

I did reckon that Turkey was not going to pay that fine.
They look to the KRG to pay (well everyone knows who they mean).
…. The clever KRG ‘rulers’ will turn on us (as usual).

It all comes out soon -
Yes, where has the oil trader’s and producer’s money gone ….. the general population haven’t got their wages, Vitol et al paid up front and don’t have their oil yet, we are a charity to the rulling famillies in the region….. but fear not: did I read that Barzani has a pending audience with The Pope (maybe he can get the truth out of him in confession ??).

US officials should bypass these suspiciously wealthy KRG leaders, and focus on sorting things out via the official Iraqi Government.

Getting pretty obvious now since Turkey requests meeting with Kurdistan that they want a deal to split that pesky $1.4 B bill.
Erbil will turn to us to foot the camel’s share of it as they know they can tool our limp BoD around as required.
I guess their claim will be based on the irrefutable logic that it was our fault they needed to export the oil to pay our monthly bills !
Nothing surprises me here now.
Pass the biscuits Achmed.

It would appear that the management of GKP entered into a contract with the government of Kurdistan on the understanding that they (that familly) had the legal authority to do so.
Perhaps Todd et al should have exercised some due diligence with Baghdad before signing anything.
At the whim of Baghdad - all PSCs could be declared as nul and void as one of the signatories had no right to enter into contracts at a local level to sell the assets of a sovereign country.
Baghdad is at fault by allowing these sales to continue for many years without contesting them by physical action if necessary.
We can only assume then that the rulers in Baghdad had some personal benefits by allowing this continuation ?
Neither the populations of Iraq nor Kurdistan had rulers acting in their best interests.
What a deep and convoluted mess.
The only benefactors are apparently those famillies on both sides who had the power to turn ‘deaf eyes’ in return for personal gains.
Meanwhile - we appear to be a charitable organisation and should register as such.

Trucking - we learned last time that all of the trucks were hired via a prominentruling family …. they win every time ( of course).

« The oil exported has been sold, where is the money due to the producers of that oil.
At every turn we see signs of a small regional power (KRG), breaking agreements and rules to enrich those in charge».
I’m so glad you query this too Belgrano….. from what I understand the net revenues from Kurdistani oil sales do not go to paying the locals or any population benefitting projects.
Add to that - in the recent months we have donated free oil again to the cause (so net revenue from selling the oil becomes gross revenue a no cost to the rulers.)
Should Baghdad not be investigating where that invisible revenue actually gets spent (or are they guilty of a similar blatant theft as their Erbil cohorts…… so pots and kettles stay Mum about the crimes being committed for the benefit of the few against the general population ?)?
I still cannot rationalize how a rulling familly can afford Holywood style villas in the USA and private jets etc. on their politician’s $100k salaries working themselves to death for the benefit of the Kurdistani peoples.
Something stinks here I fear.

….. all this money owed over the years, but we never seem to hit them for interest on these debts ?

Is the strategy to starve out us little oilers from northern Iraq and re-sell these fields to China, India…… whoever ?

Only waiting now for the ruling families in all locations to reach agreement on what share of the cream each reckons they are entitled to - due to what they have been used to and «who knows what about what has been swept under the carpet previously» ( and then there’s Erdogan’s burning need to dump that $1.4B fine on whoever - so that he can win Brownie points around the forthcoming election).
All over bar the usual biscuits meeting then.

…. and our SP falls inexorably towards 1p (old money) !

I fearfully agree WWPleb - the KRG have been handed another Golden Excuse for not paying us yet again - and they won’t be slack in exercising it to the maximum.
Where have the monies which were grudgingly earmarked for the usual late and diminished payments that our hyperactive and communicative BoD have grown to accept so submissively.
I suspect the usual benefactors win yet again.

‘Oil revenues deposited in an Iraqi bank’ with rights of access to whoever in Baghdad and Erbil (for auditing)…. like giving the keys to the chicken hut to the foxes.
OK that’s fixed the personal fears of the local tribals as to how they can continue to access their birthright to the cream - only have to agree on how The Turks can wriggle out of that damned $1.4B fine - and by mutual agreement get it reassigned to those in power in Baghdad, Erbil and Ankara ….. and we’re all set to continue as before.
Job done.

Easy answer: Any movement will be from personal gains being satiated.

150 p soon :(
That’s 1.5 p in original share price value (as some may remember)?
What a disaster to be part of …..
Why didn’t I listen to what my tea leaves and grannie’s bunions were trying to tell me ??

I fear that this period of no oil exporting will provide a huge excuse for the usual suspects not paying us for our produce for many months to come.
Question is - into whose private accounts will the proceeds earmarked for us producers end up in ?

I don’t think an understanding or concern around the Region’s economy is high on the agenda….

Surely deals will be made on a personal basis to avoid this impasse if a more transparent solution to meet the terms of the fine cannot be reached.
The closed doors decision may not necessarily be to the benefit of the general populations and certainly not to us ( who are owed so much by so few for so long ).

Correct Malcolm…. B not M !
I still reckon it will be negotiated into a reduction in the Turkish pipeline tariff over a long term until it is paid off.