Genel Energy Share Discussion Threads

[losses] 07/11/2017 22:46

They wiling to do that for 17% of the constitutional budget... Abadi not agreeing to.

[hawkey2] 07/11/2017 21:27

Latest Noises

Doesn't sound great.



hxxp://www.rudaw.net/english/kurdistan/071120176

hxxp://www.nrttv.com/en/Details.aspx?Jimare=17417

Twitter from CCC on III

Government of Iraq‏Verified account @IraqiGovt 3h3 hours ago
More
Replying to @IraqiGovt
PM @HaiderAlAbadi: We do not seek to punish Kurdistan region, or our Kurdish citizens but want to be fair to all Iraqis

Government of Iraq‏Verified account @IraqiGovt 3h3 hours ago
More
Replying to @IraqiGovt
PM @HaiderAlAbadi: All revenues from oil exported from Kurdistan region must be handed over to the federal government

This one is good.

hxxp://www.rudaw.net/english/kurdistan/071120173

[pogue] 07/11/2017 14:32

Cyan
my interpretation.
Turkey giving Kurds a hard time as they are always wary of an independent Kurdistan encouraging the PKK, whilst they remained in Iraq Turkey was happy to play ball as they need oil and gas from Kurdistan as it removes their dependance on Russia. Now and I bet they have assurances from Baghdad that their interests in Kurdistan will not be harmed if the KRG lose power and the natural resources will continue to flow.
The Militias are Iranian and Iran are pulling the stings with the Shiite government in Baghdad so they are together attacking the Kurds as it is in Iraqs benefit to have control of the oil and Iran are looking at Iraq as being a servile state in the future, all Shiites together basically.
Turkey is bombing the PKK in Kurdistan because they can, they didn't before as the Kurds were not looking for independance the vote changed that.
Militias chummy with PKK probably because Iran sees Turkey as a big regional threat to their expansion and helping the PKK annoys Turkey.
All change tomorrow though when somebody does something different lol.

[panagos] 07/11/2017 14:15

10 trading hours to Pesh 3 update...tick tock tick tock....

[cyan] 07/11/2017 13:54

Its all very confusing, Baghdad, turkey and the militias all together giving the KRG a hard time.
Turkey bombing the PKK as part of their long standing conflict , BUT; we now see the militias getting chummy with the PKK.

In the meantime the oil appears to still flow and POO is high ; Brent $64.30

[losses] 07/11/2017 13:48

ERBIL - The Prominent Shi'ite cleric Muqtada al-Sadr on Tuesday ordered his militia within Hashd al-Shaabi to withdraw from Kirkuk and close down their offices in the city.The leader of al-Sadr Movement, Muqtada al-Sadr, called on his militia to withdraw from Kirkuk Province within 72 hours, "and all their headquarters should be closed immediately.

[pogue] 07/11/2017 13:24

Autonomy/independence thin line, they dont want ruled by Ankara basically and the Turks fear them breaking away.

[cyan] 07/11/2017 13:12

My understanding is that the PKK in Turkey are not fighting for independence but much more autonomy .
Here is the report of the Turks bombing the PKK in the deep south of Kurdistan;

[pogue] 07/11/2017 13:05

Turkey clearly recognizes them as 2 separate organisations, the PKK are the Turkish Kurds who want independence from Turkey the KRG are not pressing for that I had a Turk explain this to me.

[cool hand kev] 07/11/2017 12:49

DNO News tomorrow?

[cyan] 07/11/2017 12:08

Hi pogue. Imo they are the same organisation.
Turkey , in recent days, bombed PKK offices in southern Kurdistan.
PKK and Turkey are at war with regular clashes and fatalities. Turkey has often crossed into KRG territory to bomb PKK bases.

[pogue] 07/11/2017 11:56

PKK is the Kurds in Turkey not the Kurdistan

[pogue] 07/11/2017 08:03

I would say big players like Russian and Turkish companies will be looked after Genel may not be so lucky.

[whiskeyinthejar] 06/11/2017 23:27

IMO if KRG hand over control of it's oil, it doesn't mean Genel will walk away with nothing. Despite fact Im thinking Baghdad will probably want BP running Tawke and Taq Taq on a service contract, Baghdad will argue contracts were illegal and looking after Genel shareholders won't be top of KRG priorities.

But Genel contracts were signed in good faith and IIRC Turkey invested a lot of money into the pipeline. It could end up in a tribunal I guess.

[hawkey2] 06/11/2017 18:41

Genel is a very very high risk gamble (speculation) or any word you may wish to use. The current price is stupidly cheap for our assets. However therein lies our problem...They are in the wrong place.

As much as a rose tinted ramper as I am I also know I also know I could literally lose everything. But its my money and my decision.

My firm belief is that things will settle down, we will produce oil and GAS and get paid.

I truly believe if all of this happens we will be trading around high £2 to £3.

However as always WTFDIK

Hawkey

PS Oil at 64$ a barrel gives us how much free cash flow per month ???????

[pogue] 06/11/2017 16:49

I believe Baghdad said they would pay the salaries but now will withdraw that offer unless the Kurds accept the full deal of reduced revenues from central funds.
I agree military action will be needed.

[cyan] 06/11/2017 16:44

Good afternoon pogue.
Recently Baghdad announced they were going to pay all the salaries. What to believe?
This needs a decisive resolution. In my opinion Baghdad are overplaying their hand bolstered by thuggish Iranian backed militias. I doubt the Iraqi army alone would have made the gains on the ground without the militia.
There are reports that the militia are fancying their chances of a military solution at Fish Kahbur .
They really need to be given a seriously bloody nose if they invade undisputed KRG territory; that's a big red line.

[pogue] 06/11/2017 16:38

Cyan
from the article you posted
'The Prime Minister said that his government will do its best to continue paying its civil servants and guarantee their pay.'
Looks like all my concerns are lining up as I predicted. There is not enough money to pay for everything and it appears the KRG have made a decision on who is getting paid in the event of no funds coming from Baghdad which is beginning to look likely as they tighten the screws on the KRG to agree to their terms.
I am beginning to worry that the Kurds are going to go from supine to wanting to fight. They are getting stuffed rotten and Barzani keeps trying to ask for peaceful negotiations with Baghdad but now has very little to negotiate with. I could see a new leader coming in with a much more aggressive stance, the Kurds are not known for being pushovers and Baghdad is making the same mistakes again as it did when it screwed over the Sunnis when the Shiites took over power and caused the ISIS invasion.

[gregpeck7] 06/11/2017 16:34

Brent almost 64 usd.

[cyan] 06/11/2017 16:34

Here is the difference in the parties positions on revenue sharing;
Baghdad wants to pay 12.6% ; Erbil wants 17%




Whilst they haggle Brent is on steroids ; $63.71 WOW!