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May be breaking news for bnn but, it’s just repeating what Kurd24 said earlier, the line “preparing for an impending diplomatic visit” sounds like they’re trying to pump something up or someone, perhaps his preparation involves a reshape of his combover.

Easy money here for day traders, lots of pump and dump until confirmation of a deal is published.

No issues being proved wrong but, I tend to think the worst and hope for the best, this is GKP and Erdogan we’re discussing after all.

He isn’t as stupid as once thought and is clearly being directed by his new cabinet who, appear to be more pragmatic, better informed and orientated west. He realises it’s time to place bets and backing the wrong pony could have a detrimental effect on his already damaged economy. His tentative alignment/support for Russia has not and will not bring prosperity or security so, he’s gone for the easy trade. How they’ll square the payment of fines is less understood but, I’m sure a compromise can be found, considering what’s at stake. As for the date/time of the visit, I can’t see it being before the end of the month as, there’s the NATO summit to reflect on and he’ll need to address the national government on the Sweden/NATO decision. He’s going to be busy for a few weeks so, I guess we’ll need to be patient for a little longer. My money has always been on the acquisition of GKP by a super major that can develop and sustain an asset like Shaikan, the developments over the past few months have reinforced this view, what price a buyer would be prepared to pay is another debate. Bon chance.

Or, like me, they’re hiding behind the sofa waiting for this horror show to end.

I topped up today to use my trading credits before they ran out so, hopefully, you’re right and we’ve seen the bottom…… for now.

Bon Weekend.

What a load of old pony. I wouldn’t be too fussed if this share went under as, it’d stop you spouting off about how everything is the fault of the west. If the west is so bad, find another economic model to follow.

GRH1

Had a good look through the RNS and nowhere does it say we are seriously considering trucking oil. However, it does say, “We are now exploring potential options to sell our crude to local buyers." That’s not the same.

Where did you hear that?

It’s certainly a strange time to make such an appointment and his rep as an activist gives the impression that something’s happening that may not be in our favour or the current board’s. Let’s see how the market reacts but, given that there’s no news on the resumption of exports, It’ll be difficult to gauge.

Don’t get your hopes up. The KRG are not the only oilers who export from Ceyhan.

A marine oil terminal situated at the port of Ceyhan in the Turkish Mediterranean which receives hydrocarbons from offshore assets in the Caspian Sea via the Baku-Tbilisi-Ceyhan oil pipeline for further loading on tankers which carry the oil to world markets.

It would be interesting to know if they’re carrying anything and where they came from. If they’re full, the Turks have secured supplies from elsewhere for their own consumption which isn’t a good sign, if they’re empty, then that could be the opposite.

Standby, I feel another Friday pump and dump. I can’t believe it’s almost Jul and this Shiite is still not resolved.

From the FT this morning.

Turkey’s current account deficit widened in April, according to data released on Monday that highlights how president Recep Tayyip Erdoğan’s unconventional policies caused a big imbalance in the country’s foreign trade.

The current account deficit registered $5.4bn in April, up from $4.9bn the previous month, according to data from the Turkish central bank. Economists polled by Reuters had forecast a fall to $4.5bn.

Arms,

Keep your opinions regarding the “west” to yourself. If it wasn’t for the “west” you wouldn’t have the privilege of having an opinion in the first place and you’d doubtless be moving around your village by horse and cart. Stick to the script, GKP has an issue with the transportation of its oil, it has nothing to do with the “west”.

Belgrano,

They must be out of date articles or they put the work experience guy on the computer.

The Wiki article reveals all.

https://en.m.wikipedia.org/wiki/Turkish_Air_Force#:~:text=Fighter%20and%20reconnaissance%20aircraft,-A%20Turkish%20Air&text=Turkey%20is%20one%20of%20only,the%20F%2D16%20Fighting%20Falcon.

****eye: that’s a very cynical and perverted view of geopolitics and completely baseless. if you think that a nuclear power, the biggest producer in opec and a transcontinental nato member would conspire to undermine us hegemony by stopping half million barrels of low grade hydrocarbons from getting to market, you’re misguided at best. the taps were turned off in protest at getting fined and now, due to the unexpected close run election and subsequent run off, turning them on isn’t a priority. negotiations will commence once erdogan is back in his seat and he can get on with being the dictator he always dreamed of being.

Not wholly unexpected but, nonetheless disappointing. There is still a level of confidence in the company and region as a whole so I’m confident there will be a resumption of oil exports and divi in turn. The run off on Sun now looks like a formality and Erdogan will be back at his desk soon after. Hopefully, this will trigger a good will gesture of the type we need. GLA.

According to the FT:

Foreign currency reserves registered $53.2bn as of May 12, two days before Sunday’s election, but those figures include tens of billions of dollars borrowed from domestic banks through short-term agreements known as “swaps”. Reserves had been $75bn at the end of 2022. Tim Ash at BlueBay Asset Management described the fall in reserves as “huge”.

Rogthegamer: not sure where you get your figures from but, a quick fact check shows Turkey has foreign currency reserves of $60.8 billion as at May 23 and $47 billion in gold as at Feb 23. They can easily afford the payment but, I suspect it’ll be paid in instalments or deducted from pipeline and loading charges.