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Are you on the bevvy Rog? :-)

Was thinking we're being robbed (even more) if we have to pay MOL from our 61.5% share of 26.3%

"Contractor" there is actually 61.5% GKP, 18.5% MOL, 20% KRG.

Ah thanks for that I've been pondering that very thing.

"With a return to exports, the Shaikan Contractor would currently receive a little over $12 a barrel (current direct costs, opex and capex recovery, plus profit oil, gross of the CBC GKP pays) were it not re-invoicing the costs in the receivables."

Delayed reaction, but what realised price are you assuming $38pb??

Yes, thanks for detailed reply , it was a slightly tongue in cheek question in order to point out that we'd be sharing $16 or equivalent in oil with MOL and this makes a significant difference.

Wonder if our partner MOL receive a share of the $16 or GKP keep it all???

I'm also hopeful that KBT discount could possibly be reduced to zero but happy for others to stick to their guns on such matters.

Do you think JH didn't have his thinking cap on when he mumbled $40 or $43-$45 with Brent at $67 in a recent interview?

Ie $3.20 to MOL?

Just checking but I'm assuming $16 is $12.80 net to GKP?

Unless KRG expect the one trillion IQD plus $16 per barrel for oil or equivalent amount in kind to IOC's??

Still more questions than answers and I'm with Invstrat, we could still be here this time next year, happy to be wrong.

"Under the deal, the Kurdistan Region will supply its daily oil production to Iraq. In return, Baghdad is obliged to allocate one trillion Iraqi dinars to the Kurdistan Region."

I've got an awkward question - who pays the IOC's?

Trillion Iraqi dinars only covers the salaries apparently.

Or unwillingness rather than willingness?

Presume that statement should read "when" rather than "until"???

"The IOC spokesperson added, "Let's assume a company produces 10 barrels of oil and the price per barrel is $100. The total is $1,000. The Kurdistan Regional Government's share of this amount, which includes taxes and production split, is four barrels."

According to Caggins, after deducting the government's share, the company has six barrels left. This oil goes through pipelines from Fishkhabur to Turkey, and from there to Ceyhan under the control of the Iraqi State Oil Marketing Organization (SOMO), and then to be sold on international markets.!

Not a big fan of Caggins but can't believe he actually said this as doesn't make any sense?

You beat me to it

" Under the deal, 60% of the crude, representing the Kurdistan Regional Government’s (KRG) share, will be handed over to SOMO, while the remaining 40%, owned by the operating oil companies, will be sold to SOMO at the prevailing domestic price in the Kurdistan Region"

Probably BS I know but wonder what that even means? SOMO trying to take it off our hands for $27/28 per barrel, same as we've been accepting for last 2 years.

Talks are ongoing - yes no doubt about that.

Yes I realise that but he mumbled $40,$43,$45 a more exact figure would've been helpful

Yes interesting short interview, thanks for that.

Pity JH kind of stuttered when he mentioned expected realised oil price to GKP based on todays $67

Somewhere in the $40-$45 price range, not exactly helpful