Genel Energy Share Discussion Threads

[cyan] 13/11/2017 09:52

"Baghdad Recognises Kurdistan Region’s Autonomous Status"



"Referring to article 143 of the Iraqi constitution, Hadithi said that the provinces of Erbil, Sulaymaniyah and Duhok are recognised as components of an independent region with its borders already determined."

It appears that Baghdad recognises there is a red line they should not cross.
Of particular importance in respect of Fisch Kahbur.

I get the impression Baghdad may have given up any ambition to 'take' this critical area where the oil pipelines enter Turkey.
Baghdad seems to be working on alternative routes for Kirkuk oil that does not involve the KRG's pipeline.

Brent $63.55

[panagos] 13/11/2017 09:05

ayeeeeeee!!

[hawkey2] 13/11/2017 08:18

That's a positive start.

So much to look forward to her.

For a start the CPR for Gina Bawi and Miran is due in the coming weeks.

WILL THESE RESULTS BE THE DEAL MAKER.

Hawkey

[topazfrenzy] 13/11/2017 07:59

Deutsche Bank has raised price target to 160p

[gregpeck7] 12/11/2017 22:10

Things seem to be slowly heading back to a new normal.... Heres hoping for a "quiet" christmas..

GP

[d1nga] 12/11/2017 19:55

BAGHDAD — The Kurdistan Region is recognised by the Iraqi government in the draft budgets for 2018, said Saad al-Hadithi, the spokesperson for the Iraqi government.

The official said in a statement on Sunday that Baghdad is committed to the borders of Kurdistan Region, and that the Kurdish provinces were not referenced in the draft budget instead of the Kurdistan Region.

Earlier this month, Erbil had expressed concern over the attempts in Baghdad to neglect the constitutional right of the Kurdistan Region to be seen as an autonomous region.

Hadithi ensured that the Iraqi government will not be dealing with the Kurdistan Region as separate and individual provinces, but as apolitical entity.

Referring to article 143 of the Iraqi constitution, Hadithi said that the provinces of Erbil, Sulaymaniyah and Duhok are recognised as components of an independent region with its borders already determined.


jaw jaw will win the day , things just need agreed wrt payments from baghdad

[panagos] 12/11/2017 19:25

Awaaaangaaaaa!!!

[kris akabusi] 12/11/2017 19:04

Kris moves in mysterious waysMassive earthquake magnitude 7.5 strikes near Iran-Iraq borderhttp://www.mirror.co.uk/news/world-news/massive-earthquake-magnitude-75-strikes-11510697#ICID=Android_TMNewsApp_AppShare

[panagos] 12/11/2017 16:03

S400 sale just finalised to Turkey. I dont think Erdogan would be stupid to mess with Rosneft's business in KRG.

[cyan] 12/11/2017 15:28

Cause of this pipeline's 'issue' seems clearer.

[cyan] 12/11/2017 12:21

BP have got a lot more to do to sort out the recaptured Kirkuk oil fields;



Extract;

"The reason behind the fire breakout is not known yet, but it erupted after a massive amount of oil had leaked, according to the source.

He said that huge damage has been caused to the facilities, but no casualties so far were reported."

We will start the week with Brent at $63.82

[pogue] 11/11/2017 12:19

log
that's reassuring I guess they just used the same paperwork as was in place before the war when setting up the contracts to get the job done and the money flowing rather that reinventing the wheel and waste time. If I was taking over Kurdistan I would tend to keep the same companies in place as much as possible but I am not doing it and am not corrupt with a lot of friends to keep happy. I would say the chances of Genel surviving a takeover by Bagdad are fairly good but I can easily see the other side doing something completley different when I look at who is on it so I am waiting for a sign from Bagdad of thier intentions.

[losses] 10/11/2017 18:41

StockMarketWire.com - Gulfsands Petroleum will no longer pursue the Moulay Bouchta petroleum agreement in Morocco will start winding down its activities in the country immediately.Gulfsands said this would enable it to focus its management and capital resources in the Levant region.The Moulay Bouchta contract expired in June after Gulfsands had received an extension of the duration of the initial phase of the exploration period from Office National des Hydrocarbures et des Mines from two years to three years, together with a revised work programme. At that time, Gulfsands noted that ONHYM had indicated a willingness to extend the initial phase further, from three years to four years through to June 2018. It said: 'The Group's decision to pursue this extension, and indeed its ongoing participation in Morocco, was conditional upon it finding an appropriate partner to help take the project forward, as Morocco is non-core to the Group's business strategy. 'The Group has been unable to find a partner and so has now informed ONHYM that it does not wish to continue further with discussions to extend the Moulay Bouchta contract.'As a result of this decision, we understand that ONHYM intends to call in $1.75 million of restricted cash held as performance guarantees under the Moulay Bouchta contract. 'Further possible penalties could apply, and have been provided for in the Group's subsidiary, Gulfsands Petroleum Morocco Limited.'Now that the Group no longer has any operating assets in Morocco, it intends to proceed with winding down its Moroccan operations and exiting the country.'

[dmore2] 10/11/2017 16:17

stephen whyte cancelled it

[cyan] 10/11/2017 15:39

Good afternoon loglorry1.
I am under no illusions as to Malcy being amenable to giving bullish reports for his clients. None the less , any further reduction in KSA output IS likely to assist POO.

I seem to recall that Malcy said sometime ago he intended to have an interview with someone from GENL. I wonder why we have not had it yet?

Gas CPR and negotiation updates soon; something to look forward to.

Brent $64.35 moving up

[loglorry1] 10/11/2017 15:29

@cyan Malcy is just a paid PR. Save yourself some time and ignore it all. I'm sure he is a nice guy but he's got no more insight on the future price of oil than anyone. He has to be seen to be bullish though to his clients.

[loglorry1] 10/11/2017 15:08

FWIW I'm told by a reliable source that the PSC terms that Genel/GKP/DNO have with the KRG are not dissimilar to ones for similar sized fields that the Iraqi government have as service contracts in the South.

Obviously many other factors involved but it doesn't seem obvious that they'd be out of pocket if they just continued to honor the current PSC terms - if the KRG was to relinquish them.

I find that quite encouraging.

[englishlongbow] 10/11/2017 14:04

Took a chunk yesterday. Rebound time.

[pogue] 10/11/2017 13:16

They have also guaranteed to cover the pay of peshmerga and civil service. They must have found a gold mine somewhere.

[pogue] 10/11/2017 12:00

One benefit to Baghdad in getting rid of current operators is the debts they are owed for past oil supplies by the KRG will potentially disappear, mind you they may choose to ignore them anyway.

[loglorry1] 10/11/2017 11:40

Has anyone looked at the PSC terms for Genel and compared them with the service contract terms that companies in the south have with Iraq? I suspect, especially given the high CAPEX investment to date, the terms Genel and others get are similar to these service contracts. Therefore, there really be no incentive for Iraq to upset the operators here. Furthermore given the increased security concerns I suspect the large majors who operate in the south may be further put off.

Log