Member Info for Itsaponzi

The KRG Ministry of Natural Resources has provided the following information to the Iraqi-KRG joint financial monitoring audit teams regarding oil production in the Kurdistan Region for the year 2023:

The KRG produced 93,829,000 barrels of oil, of which 31,000,000 barrels were exported through the KRG-Turkey pipeline until March 25th. 11,816,000 barrels were handed over to Iraq, while 16,563,000 barrels were allegedly sold to commercial refineries at a mere $7.5 per barrel, despite being commercially traded rather than for domestic use.

Meanwhile, 33,829,000 barrels of oil are unaccounted for. The Kurdistan Region claims to have sold this oil directly to refineries for 1,357,000,000,000 Iraqi dinars. However, according to Omar, this represents smuggled oil transported by trucks to neighboring countries, concealed under the guise of refinery sales.

The reported oil revenues for 2023 stand at $3.621 billion, while expenditures are reported at $3.67 billion, leaving the KRG with a mere $554 million in revenue for the entire year. Based on the KRG's reported numbers, the Kurdistan Region has received only $6 per barrel sold in 2023.

107p looks like people want to be out over the weekend!!

I keep saying 90s will be revisited and it will be before any pipe ever opens .

Dry powder needed

Not without back payments first and and a reasonable PSC.

I think the stumbling block is money's owed which was stolen by the KRG. But know one will own up to that .

Iraq definitely won't pay it and rightly so.

So it's a big stalemate and has been for months .

Local sales till September 2025 then Iraq have no say.

But it's still the back payments that the krg have to stump up. Catch 22 really .

You deal with thieves and this what happens.

Iraqi Oil Minister said that the Kurdistan Regional Government (KRG) will soon re-export oil through the Iraqi Oil Marketing Company (SOMO).

The word soon in Iraq could mean days weeks months or years. I will take that with a pinch of salt.

But IMHO something is definitely happening but the main stumbling block are IOCs contracts . Obviously Iraq want to screw the ioc . Probably less profit from local sales. So best hang it out till September 2025. Independents baby

Turkish President Erdogan is scheduled to arrive in Baghdad next Monday, with one of the key agenda items being "natural gas and oil flow," according to his own statement. Several reports suggest that Erdogan not only seeks the resumption of oil exports from the KRG but also aims to secure Kurdistan's natural gas for export to Turkey as soon as possible, especially with apparent U.S. backing.

While Iraq has been preparing to resume oil exports from Kirkuk to Turkey, Erdogan likely prefers resuming exports through the KRG's pipeline, as Turkey has a 50-year contract with the KRG on favorable economic and security terms, with Turkish firms earning over $1 billion annually, in addition to other perks such as holding sway over the KRG's ties with the PKK.

However, Erdogan's interests extend beyond oil to the KRG's natural gas. This would reduce Turkey's dependence on Russian gas for energy consumption and position Turkey as a key gas hub for Europe, substantially increasing its geopolitical clout, in addition to further Turkish influence over the Kurdistan Region.

Erdogan holds several powerful cards against Iraq to push for his demands, the most significant being water. Iraq desperately wants more water from the Euphrates and Tigris rivers, which Turkey has gained substantial control over through the construction of several massive dams.

According to informed sources, the 50-year agreement signed by Nechirvan Barzani with Erdogan in 2014 reportedly includes the following terms:

- Turkish companies operating in the Kurdistan Region will be given priority in the KRG oil sector.

- For the next 50 years, Turkey will receive $1 per barrel of oil sold.

- The KRG's oil revenue will be deposited and exchanged at Turkey's Halk Bank.

- The KRG oil pipeline will be guarded by Turkey, with fees paid from the KRG's oil revenue.

- The KRG will lease seven large oil reservoirs at Turkey's Ceyhan Port, with rent paid from its oil revenue.

- The agreement sets the framework for the KRG's relations with the Syrian Kurdish SDF and the PKK.

- Critics claim the agreement's political dimension is to maintain the KDP's power and continue its leaders' rule in the Kurdistan Region with Ankara's support.

- Unofficial reports suggest the Erdogan family is the primary beneficiary of this agreement's proceeds from the Turkish side.

They think they can but Motley foolish writing negative articles will definitely move the share price. Even though its lies like a cheap watch

Will 108p hold ?

Looking by the selling yesterday I don't think so!! If 105p goes today expect a visit to 97p and if that goes we could see 80s . Over to the rampers from last week.

The pipeline isn't opening that's a fact now . Local sales keep the lights on. GKP will just sit out until the 25th September 2025 it's the only logical thing to do now. Independents baby and no more Iraq.

The trouble is the Market believes every word of that article.

Hence why GKP is dropping like a stone this morning 90s this week anyone. I wouldn't bet against now .

I hope know one got spiked on that false dawn last week.

Sells after sells at the moment.

Back to square one from last Monday!! All gains wiped out as per usual with GKP . Many more false dawns to go yet so hope everyone makes a few quid trading this farce ?? 90s back on the cards as this will be sold down now .

Hopefully this will be bought out for £1.50p soon enough.

It's all a pipe dream literally!!

Iraq don't want the any oil flowing from kurdistan.

I'm sure now you can all see that 😉 or maybe not!!

All gains this week wiped out tomorrow!!

Another false dawn with another many more to follow. Surprised the market believed the last load of lies coming out of Iraq. Trade trade that's all this dog is worth doing now.

Roger the dodge a 11p drop from its high is a classic P&D and gkp will end down today !! The trend is down from here 90s incoming this week at some point??

o dear what has happened to genel !! gkp will obviously follow now . i hope not to many got spiked today .

same **** with gkp just a different day and know one ever learns here .

Roxi it's early yet

The smart play is to increase their short not sell it..

Be careful buying into this rise you know by tomorrow close of play this will be back to 110p. Low volume Gen / Dno not really taking off . Nice trade if you got out at 124p and buy back tomorrow at 110p.

We know nothing will happen here it never does .

We have heard all those before . Talk is cheap and talk all it is with nothing accually happening.

Another 200 meetings to go yet . The pipeline isn't going to open this year . Local sales at $35 are fine untill IOCs get their terms agreed.

Looks like a few want to be out over the weekend!!

A revist to 90 could be back on ???

Spot on theory!!

The market expects the same and share price tells you all you need to know. NOTHING WILL HAPPEN.

Come on guy's you know nothing will happen!! Iraq wants no oil flowing through the pipe and will strung it out for years .

Local sales at 35 is OK with instant payments what's not to like.

Only 18 months to wait so sit back and relax . Remember even Brazani is making $300m a month for his family of local sakes so he won't be any rush either .enjoy the weekend