Member Info for starsalign

Are you ramping :-)

"However, while SOMO insists companies must revert to Iraqi law in case of disputes, the oil companies demand recourse to international law."

It's the never ending show

Yes I'm also pessimistic but as Putup has said the market is rolling with it at the moment with GKP and GENL showing recent gains.

GKP not the only IOC in Kurdistan, we don't really know the overall comparison from pre shutdown to what it might be soon.

Ok thanks

Question - is the expenditure for PF2 upgrade and the new water handling equipment recoverable via the CRP?

"Note they haven't reduced the $158.8 million owed by the KRG to GKP for any 1H recovery"

Why? thought our recent payments for local sales would reduce this owed amount?

Yes note 12, that's the one can't get my head around .

."As reported in the 2024 Annual Report, the Company had expected to start recovering cost oil balances within receivables in the first half of 2025, however the Company now expects the Contractor to effectively begin recovering the cost oil component of the trade receivables balance due from the KRG in the second half of 2025 via the settlement of invoices due from the point that the outstanding cost pool balance declines to a level at or below the trade receivable balance"

Yes agree very confusing? Maybe they've somehow added to the cost recovery pool ?

I was looking for clarification that we have been collecting overdue receivables as part of our payments but it would appear that situation is only coming into play now rather than earlier in the year?

Putup - any thoughts on the receivables? Only had a quick read but seemed a bit mish mash of an explanation going forward ?

That'll be exports off the agenda if June salaries have been paid imo.......till next month when the meetings will start again.

LG - thanks for that , as you say slightly unusual direction of travel and look like large vessels although I'm definitely NOT getting up any false hopes atm.

"Reading between the lines. No oil no salaries."

Yes perhaps the KRG have played the non oil revenue trick once too often....we'll give you the 120 billion dinars if you give us the monthly salaries and we'll work on the SOMO deal in the coming days/weeks/months/years

"Iraq to allow oil firms operating in Kurdistan Region to open foreign accounts, clearing way for exports"

That's it we're all set for exports now, problem solved

In short, still an absolute shambles and no clearer than where we were months/years ago.

Yes we've issued a photo, now please send us the June salaries, what you mean you want the oil?

I'm still not assuming exports restarting any time soon despite the slightly more positive reports but I am assuming existing contract terms will apply when the time comes.

Is the 28th of August date on website only for guidance? Seem to remember notice being issued previously right enough.

Yes it applies to every wed or thurs for the weeks and months ahead :-)