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Hxxps://www.rudaw.net/sorani/middleeast/iraq/080120244
The Kurdistan Regional Government (KRG) and the Federal government are discussing how to change or adapt the oil contracts of the Kurdistan Region with the contracts used by the Ministry of Oil, so that Baghdad pays the financial entitlements of these foreign companies.
According to information received by Rudaw from Baghdad, the Kurdistan Regional Government (KRG) delegation held talks with the prime minister's advisors and the oil ministry in Baghdad on the oil contracts.
According to reports, the negotiations were aimed at how to change the contracts of the Kurdistan Regional Government with oil producing companies, which are based on sharing in production, to the participation contract, which the federal oil ministry operates, or adapted to it Kurdistan Region.
According to the 2023 budget law, the federal government's Ministry of Finance must pay the financial entitlements of the Kurdistan Regional Government (KRG) companies, but according to the criteria followed in the Ministry of Oil with oil companies, which is six to seven dollars per barrel.
According to the contracts in force in the Kurdistan Region, the cost of oil production is at least $ 18 per barrel.
The Iraqi budget law, which is for three years, 1 trillion 428 billion 245 million dinars has been allocated to the Kurdistan Region as the cost of oil transportation, while the amount of 2 trillion 689 billion 655 million 172 thousand dinars has been allocated Cost of oil exported in Iraq.
The Kurdistan Regional Government (KRG) delegation will meet with the federal government officials on Wednesday to discuss the budget and salaries of the Kurdistan Regional Government (KRG) employees, a source in Baghdad said.
Another blow hard who thinks having an opinion somehow adds to the quality of information on the board, and yet another into the filter bin.
Gulf Keystone Petroleum Share Price 6 months.... + 3.85% Terrifying free fall.
Watch that blood pressure, man of your age needs to be laying down more and ranting about inconsequential trivia less.
CAWN, HL DID allow certificates and gave notice of such, it was the late in the day offer to hold shares in limbo that caught some out as they had very little time to decide which way to go, or had converted anyway and couldn't go back. You're complaining about paying a small fee when you will get growth and dividends free of tax? Either you have a terrible memory (because you did get the option) or like a good whinge. Grow a pair yer Jessie.
Retirement man 12th December
"RE: April 4th12 Dec 2023 13:35
Saw your comments- don't give up, wait until shares reach £1 and then buy some more, I will!"
Some people are so full of it.
Simplicity in itself, worked out well for Petrofac 🫣
Reportable shorts down to .90% again.
$15 per share would save my retirement!
Some big numbers post bell.
Other EU countries are still doing business with Russia and buying oil and LPG, it's just GB News stirring up some good old outrage for the hard of thinking again.
Several local media claim that Kirkuk governor, Rakan al-Jibouri, sent a directive letter asking the Iraqi forces to take over some assets belonging to Kurds, arguing they don't have license, and he planned to go there with the army to film himself as election material to rally his Arab base just days before the election but the Iraqi army refused to comply.
Bit of a re-hash, but Sudani is blaming the oil bill of course.
Rudaw Digital
Since the suspension in March this year, negotiations to re-export oil from the Kurdistan Region through the Turkish World Port continue. The latest response from the relevant parties in Turkey, Iraq and the Kurdistan Region is that they are ready, but there are technical problems.
"Everyone is ready, really," Iraqi Prime Minister Mohammed Shia Sudani told Rudaw. The problem is that the House of Representatives has introduced an article that says the cost of producing a barrel of oil will be based on the national average. This is set in the House of Representatives, the Finance Committee, not the government. "After Turkey announced that it was ready to resume oil exports, we came and talked to the oil companies. because the average cost was set at eight dollars."
Oil production companies gathered within the framework of the Kurdistan Oil Industry Association – Epicur. Miles Cagins, spokesman for the association, told Rudaw that they would not resume production until the cost of oil extraction was equal to that paid to Iraqi companies.
“In light of the bill in the House of Representatives, we have to pay $8 per barrel to produce, while the cost of producing a barrel of oil in their contracts with the Kurdistan Regional Government is $21. Neither the KRG nor we can break the law. This is one of the problems with the budget bill voted by the House of Representatives. Companies are now waiting for this article to be amended."
Bestun Osman asked Sudan about the cost, you as the Council of Ministers will agree to the amendment and send it to parliament?
Sudani replied, "Certainly, because we are now losing about 470,000 barrels per day, this is the amount that should have been exported from the Kurdistan Region and also from outside the region. So some time ago, if you remember, we sent the oil minister and the deputy prime minister to the Kurdistan Region and they had a meeting with the minister of natural resources and a group of oil companies That we have to discuss with the parliamentary finance committee."
According to the Iraqi prime minister, the Kurdistan Region's oil exports before the suspension due to the decision of the Paris arbitration court was 380,000 to 400,000 barrels.
The Iraqi prime minister said that they are now supplying 80,000 to 90,000 barrels of oil to the Kurdistan Region
looking good for face saving and resumption Imo.
https://www.rudaw.net/sorani/business/151220233
From ADVFN unverified.
Danish shipping company Maersk has said it is pausing all journeys through the Red Sea. The decision comes after a spate of attacks on vessels launched from a part of Yemen controlled by the Houthis - an Iran-backed rebel movement.
The group has declared its support for Hamas and say it is targeting ships travelling to Israel. The Red Sea is one the world's most important routes for oil and fuel shipments.
"The recent attacks on commercial vessels in the area are alarming and pose a significant threat to the safety and security of seafarers," Maersk, one of the world's biggest shipping companies'
Speculative I know, but I'm thinking they're seeing that payment negotiations are on the table now, and they don't want to be left behind.
Nice to add now before the news breaks. Here's to a Happy New Year!
I'm only a newbie here but isn't the Iraqi parliament in recess until January? If that's right they can't change the law till then, I may be wrong 🤔
Think you're getting BOPD (average sales per day) and total monthly sales mixed up? Still, even on the current average sales monthly costs are covered with a small profit, and Baghdad are loosing big bucks.
About time the Kurdistan side realised that taking the IOC's along with them will strengthen their negotiating position, if I were them I would be making alternative route to market plans to scare the bejeebers out of Baghdad.