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This decision will eliminate a problem that was being discussed behind the scenes. We would hear Baghdad officials expressing concerns about whether our contracts are legal or not said Apikur spokesman

https://www.rudaw.net/sorani/business/23122024

You know this is great news when even itsaponzi says that will stabilise the share price rather than here’s comes the £1.20s 😂

This judgement according to the article was made on 18th December. However Sudani had gone to the parliament the previous week asking them to sign off on the $16 amendment and he mentioned at that time that the contracts were deemed legal by the courts. The Shia factions ignored him and decided to push the decision to next year.

With this decision by the iraqi court of appeal surely puts pay to any change to existing contracts.

A big own goal by the Shia factions. The ICG has already previously been ordered to pay the Kurdistan salaries by the Iraqi Supreme Court irrespective of the outcome of the KRG oil dispute. Now the ICg is told they can’t change the contracts.

If they keep the status quo the only ones who benefit are the ruling families in KRG who are currently pocketing the difference between what is paid to IOCs and what they get for smuggling oil to Iran. Iraq budget deficit is running at 10% at current oil prices.

The only way this gets resolved is for ICG to come to an agreement with IOCs and this ruling gives extra ammo to IOCs.

Imho this is a strong buy now that we have a solid legal footing on the contracts and we have Trump coming in who is not going to look kindly on the oil smuggled to Iran.

Atb to all shareholders

The Shia faction in the Iraq government have to be really stupid.

ICG have now agreed to pay the salaries for November and December to Kurdistan https://manage.rudaw.net/english/middleeast/iraq/15122024-amp.

Meanwhile barzani and puk keep the cash from the oil being smuggled to Iran.

How exactly do this Shia factions think they are hurting Kurdistan?

Surely Sudanis proposal to pay €16 would have meant ICG would have been covering the Kurdistan salaries from the revenue from Kurdistan oil. As it stands Kurds are keeping their money and then getting more on top. The stupidity is mind blowing

There doesn’t seem to any news out but looks like some decent buys this afternoon. I’m wondering whether we are seeing the start of buybacks.

I guess will get an rns tomorrow if that is the case.

Atb

@tartine - resumption of oil through pipeline is not linked to the audit. ICG have offered to pay $16 on resumption of oil whilst the audit takes place. At end of audit either ICG or the oil companies will pay depending on the outcome of the audit.

Apikur which represents oil companies have reacted favourably to this suggestion but have stated that they would need need contracts on how they will be paid as well as detailing how they will get the money that is owed to them from KRG before any oil flows through the pipeline.

Https://www.shafaq.com/ar/%D8%B3%DB%8C%D8%A7%D8%B3%D8%A9/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%8A%D8%AD%D8%AF%D8%AF-%D9%8A%D9%88%D9%85-%D8%BA%D8%AF-%D9%85%D9%88%D8%B9%D8%AF%D8%A7-%D9%84%D9%84%D8%AA%D8%B5%D9%88%D9%8A%D8%AA-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%82%D9%88%D8%A7%D9%86%D9%8A%D9%86-%D8%A7%D9%84%D8%AE%D9%84%D8%A7%D9%81%D9%8A%D8%A9-%D8%A8%D8%B1%D8%B2%D9%87%D9%86-%D8%A7%D9%84%D8%B9%D9%81%D9%88-%D8%A7%D9%84%D8%B9%D8%A7%D9%85

Shafaq News/ The Iraqi Parliament Presidency has set tomorrow, Sunday, as the date for voting on the "controversial laws". The session's agenda, according to what was published by the media department and received by Shafaq News Agency, includes voting on the proposed Personal Status Law No. (188) of 1959, Articles (2 and 10), and voting on the draft law to return real estate to its owners covered by some decisions of the dissolved Revolutionary Command Council. The session agenda also includes voting on the draft law amending the second General Amnesty Law No. (27) of 2016, voting on the draft law of the National Intelligence Service, and voting on the proposed law amending the first Passport Law No. 32 of 2015. The session also includes a report and discussion of the second reading of the draft law amending the first Federal Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023, and a report and discussion of the second reading of the draft law amending the fifth Civil Aviation Law No. (148) of 1974.

I find it laughable starlign that you have come to this conclusion without put forward any evidence. I'm going to assume you are tech illiterate.

the video in cryptos tweet https://x.com/acryptofuture/status/1865044721594458434?s=61&t=fdrksrk9ujlhx5xlkdak-w has had the audio converted to English. The video even has a watermark showing you the translation tool that he has used but because of the synthesised voice you've decided it is fake

You can find the original video here https://x.com/KurdistanWatch/status/1864994523748692399 in arabic, next step is to download an 'arabic video to English translation' tool and then you can be informed as well.

Starsalign - listen to the video in this tweet which is dubbed in English. Half way through he says the international consultant is of British origin

https://x.com/acryptofuture/status/1865044721594458434?s=61&t=fdrksrk9ujlhx5xlkdak-w

It’s also in the video where he says that Iraqi courts have deemed the contracts to be legal.

@itsaponzi - i admit it’s frustrating but i think you’re not seeing the significance of what is going on here.

the fact that the current iraqi leader has gone on tv and admitted that iocs contracts are legally binding doesn’t leave much room for manoeuvre for icg.

whether the budget amendment gets passed this weekend or not is as important anymore. the iocs hands have been strengthened and that’s the most important thing. also note it’s a british firm that has been hired to calculate the field costs.

the only way the budget is getting passed this weekend is if sudani has promised support to iran and syrian ministers who visited on friday. personally i hope he has told them to **** off and that iraq is staying out of the mess.

the big issue for iraq is if assad is toppled and the syrian kurds carve out their little piece how long before krg decide to stick two fingers to the icg and join them?

going to be an interesting weekend.

there is no meeting tomorrow, it’s moved to sunday.

imho this tweet accurately reflects current position:

https://x.com/kurdistanwatch/status/1865060477056811188

meeting moved to sunday:

https://x.com/john78846295/status/1865110193521955265

it looks like sudani has shiite parliamentarians whose loyalty seems to be more with iran than the country they live in. bunch of *******s - hope their constituents realise what a bunch of scumbags they are and boot them out at next election.

will the amendment be voted through on sunday? all depends on what has happened today when syrian and iranian ministers met sudani. i hope sudani has told them to **** off.

remember people who kept saying the iocs contracts are not worth the paper they are written on. read and watch the video for yourself. straight from sudanis mouth : acknowledgment that the courts have ruled the existing contracts with ioc's are formal contracts and can't be revoked (despite previous threats of this by iraq)

https://x.com/acryptofuture/status/1865044721594458434?s=61&t=fdrksrk9ujlhx5xlkdak-w

have a nice weekend everyone.

atb

House of Representatives is in the process of approving the amendment of Article 12 of the Budget Law during the current legislative session.

Other draft laws to be moved to a future session.

https://ina.iq/eng/36813-parliamentary-finance-satisfaction-and-optimism-about-the-government-programs-achievement-rate.html

Https://www.kurdistan24.net/en/story/813588/iraqi-parliament-to-address-kurdistan-region-oil-exports

Iraqi Parliament to address Kurdistan Region oil exports

Prime Minister Mohammed Shia al-Sudani is expected to attend the session, underscoring the importance of the discussions.

Https://x.com/zoomnewskrd/status/1863912353668170205

I’ve taken a position here as well. Hopefully some good news tomorrow will move the share price in right direction

Atb

Https://x.com/zoomnewskrd/status/1863912353668170205

And then there’s this but if I’m honest I don’t know what he’s saying haha

https://ina.iq/eng/36768-prime-ministers-advisor-the-budget-is-awaiting-parliamentary-changes-to-align-with-the-governments-plans.html#hathalyoum

The write downs have been taken into account but this is aim and the MMs will be brutal first thing in the morning but recovery will start later in the day. I think I’ll be a buyer at low 70s.

You would have thought before going to court this BOD would have made sure they had a solid ground for the claim by taking the best legal advice.

Either this BoD is incompetent or ‘national interests’ for UK have trumped the claim. Yvette cooper the Home Secretary was in Kurdistan to seal a series of “cooperation deals”.

If the court costs that genl have to pay are restricted to about $5/10m then I think some sort of deal has been made behind the scenes.

It was stupid of genl to bring this case as even if they had won how were they expecting to be paid by the KRG?

Https://x.com/kheldardrasnia/status/1862817378804855231

Https://x.com/zoomnewskrd/status/1861379213863067726

Probably those in the Iraqi budget session now are ringing their brokers

Good point itsaponzi but I would say the difference this time is that Iraq don’t want to wait 60 days and are offering an initial $16 as an interim payment until the actual cost is decided. At which point they will make the back payments as well as pay the correct amount going forward.

The wording in the budget amendment seems to imply the independent consultants could recommend max $25 .

I’ve stayed away from this chat here for months because like you I had given up but have been happy with the dividends. Imho this is promising

Https://x.com/apikur_oil/status/1856840867975139382

APIKUR member companies welcome the Iraqi Parliament’s proposal to amend Article 12 of the Budget Law and believe that there could be sufficient scope in the current wording to cover our previous requests related to commercial terms and surety of payment for past and future exports via the Iraq-Türkiye Pipeline.

https://www.rudawarabia.net/arabic/middleeast/iraq/131120245

According to the amendment, the Kurdistan Regional Government (KRG) oil will be handed over to SOMO and the oil companies will be paid $16 per barrel for production. After 60 days of the amendment to the general budget law, an international consulting body will determine the cost of production and transportation of oil from each field separately.

The member of the Finance Committee of the Iraqi Parliament said that the amendment may be one page, but not easily approved and some MPs have comments on it, believe that the cost of production and transportation of oil is unclear , possibly reaching $24 to $25

Atb to all shareholders

It’s quite a lot of money mate so these things do take time. I think this rns just enforced that the sale is progressing. If they do it by end of the year there will be a nice Christmas present for all of us.

Like you, I believe the deeps are the key. If they can get the license and tell us it’s flowing that’s where the big rise is.

Atb