Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The current PSC has a five year extension. So a 25 year "extension" implies a new PSC has been negotiated.
So IF true the question now becomes by who ?
SS
$90 Oil Is Only The Beginning
By Irina Slav - Jan 30, 2022, 6:00 PM CST
The current move in oil prices is largely attributed to geopolitical risk.
The next major move in oil could be triggered if inventories fall to critical levels. Wall Street’s consensus seems to be that Brent will reach $100 by the summer.
Brent crude touched $90 per barrel briefly this week for the first time in years. This latest jump was attributed to tensions around Ukraine, but this is the most transitory reason for oil price rises. The bigger reasons all have to do with fundamentals. And $90 per barrel of Brent may be only the beginning. A lot has been written recently about OPEC's spare capacity and the not too rosy outlook for it. That spare capacity is in decline for several reasons, but chief among them appears to be underinvestment. As a result, JP Morgan earlier this month warned that Brent could rise to $125 per barrel as OPEC's spare production capacity falls to 4 percent of total capacity by the fourth quarter of 2022.
The International Energy Agency has gone even further, warning OPEC spare capacity could fall by half to just 2.6 million bpd in the second half of the year. The agency then went on to say that, "If demand continues to grow strongly or supply disappoints, the low level of stocks and shrinking spare capacity means that oil markets could be in for another volatile year in 2022."
It is not just OPEC, however. The biggest non-OPEC producer of oil—and biggest oil producer globally—is pumping less than it can. Pressure from shareholders on public oil majors in the United States has increased, as has an insistence that companies focus on greening up their operations instead of looking for more oil and gas to extract. As a result, the U.S. is pumping less oil than it could and, many would argue, should.
As a result, the stage seems set for another expensive year in oil, which happens to coincide with an expensive year overall as central banks begin tightening monetary policies in response to stubborn inflation that, like the IEA's oil demand forecasts from the early days of the pandemic, proved to be far from the transitory glitch the Fed said it was last year.
"The oil market is heading for simultaneously low inventories, low spare capacity and still low investment," Morgan Stanley analysts wrote in a note cited by the Wall Street Journal this week, summing up the situation quite nicely. In this situation, $90 for a barrel of Brent may be just the beginning.
They dont have either the intelligence or experience to understand just what Todd achieved and they never will.
But get this, had TK been around he would have negotiated with the Kurds and the restructuring would not have happened.
SS
Whats to say ? Its all been said over the years. We all know about the potential massive size of Shaikan.
Now its just the wait till the end game. (Hopefully)
SS
When, not if
Continuing on the rising costs theme, some traders now see oil at $100 a barrel as a matter of when, not if. Global benchmark Brent has already rallied 25% since November, and is holding above $88 a barrel this morning. Strong demand from Asia, the unwinding of pandemic restrictions, OPEC+ continuing to struggle to meet its own production targets, and security worries about supply are all helping the bullish outlook. The International Energy Agency in its latest report published this morning boosted its consumption forecast by 200,000 barrels a day.
Well they have cleaned out the "swamp" over on ADVFN.
Looks like they need to come over here.
If anything "shareholder expectations" need managed upwards.
Isnt that what the BOD trying to do currently ?
Get the SP up to where it aught to be?
It was taken over by the trolls a few years ago. They ruined it.
However they seem to have been warned off .
SS
Hopefully it has finally dawned on both of them that time is running out. Oil isnt going to hold this price forever. The need finance to diversify economies away from oil. So they need to maximise production ASAP and to achieve that they need to work together and they need global expertise - quickly. This could be the beginning of a new era for Iraq and Kurdistan.
If they dont let religion / politics or Iran screw it up.
IMO
Gulf Keystone confirms that it has received aggregate gross payments for the combined September 2021 and October 2021 crude oil sales and arrears payments of $89.0 million ($69.7 million net to GKP) from the Kurdistan Regional Government ("KRG").
i SEE MY ONE HAS GONE AS WELL.
I see my post has also gone.
LOL
Toatie ,
Im here till the end .
Either the end of GKP or the end of my good self.
So I suggest the trolls call Richard Branson he needs plenty hot air for his balloons.
GLA
I want to wish every one of you stubborn long term holders a Merry Xmas. I wish you all well for the sh*t we have had to put up with and all the idiots we have been forced to listen to along the way. Quite a journey and a grateful thanks to Bob for all his help and guidance (RIP)
But never forget what TK told us……..”There wont be many of you left at the end”
But I (and you ) Im pretty sure will be one of them.
H7
The FDP has to be issued by COB 31st December/Q4 according to GKP.
Labelling Habshan as a fraud means its one of these ADVFN trolls over here with yet another Avatar.
Another one for the bin by the sounds of her.
I agree , and the cause of it all here in the UK is BOJO and his "woke" leftie wife, who is actually running the country. However Boris is on his way out ....thank god.
It will also mean greater US O&G Industry financial support for the Republicans for the mid term elections.
Biden has 12 months of Control left - tops. Then we will have a Republican majority in one or possibly both houses.
The only reason GKP is NOT sold are purely Geopolitical. There are neighbouring countries (Turkey/Iran) who do not want to see a successful Sunni Kurdistan. Its nothing to do with the counting of beans.
Hopefully the current ,but relatively short lived, Oil Boom will change focus. The Kurds have to negotiate with the ICG because no one currently supports an Independent Kurdistan,(and that includes the USA). Both the Kurds and the Iraqi's have to use the revenue from this last opportunity to diversify both economies.
So a deal must be done....what shape this will take I have no idea. But it must involve SOMO - for now.
IMO
Broadfraud sounds so credible you would almost think its true.
Except it aint.
The Oil Price Rally Is Far From Over
By Irina Slav - Nov 09, 2021, 7:00 PM CST
It seems that nearly everyone believes oil prices are only going to go higher from here, with OPEC+ refusing to change its plan and U.S. producers maintaining discipline
How much higher could oil prices go? This is the question that the U.S., China, India, and other big consumers have come to dread as benchmarks continue to rise amid tight supply and soaring demand. The answer right now is not one they will be happy with, either. “Net, our bullish view remains unchanged: the oil deficit remains unresolved, the current strength in oil demand remains a near-term tailwind and the increasingly structural nature of the deficits will require much higher long-dated oil prices,” Goldman Sachs analysts wrote in a note last week.
The bank sees Brent crude ending the year at $90 per barrel and staying high over the next few years as well, averaging $85 per barrel. Analyst Damien Courvalin said last month that “We’re facing potential multi-year deficits and the risk of significantly higher prices.”
Bank of America said earlier this month Brent crude could reach as much as $120 per barrel by the middle of next year. That’s a revision of another bullish forecast that saw Brent hitting $100 per barrel over the next six months. The reason for the revision: the now global energy crunch that has seen the prices for all fossil fuels, especially coal, skyrocket amid soaring demand.
According to BofA, a recovery in jet fuel demand, higher diesel fuel demand, and constraints in the refining industry would all contribute to higher oil prices over the coming months.
UBS is also bullish on oil, like pretty much everyone else. The Swiss bank’s strategists said in a note earlier this month that oil supply was falling short of demand, noting that oil in storage across the Organization for Economic Co-operation and Development was at the lowest since 2015, according to a Houston Chronicle report.
The latest developments in OPEC also suggest oil has higher to go. On Friday, Saudi Arabia raised the December official selling price for its flagship Arab Light for Asia by $1.40 per barrel from November levels signaling expectations for the continued imbalance between demand and