It's all noise .Gkp is sold tba |
Meanwhile in 8 months time the KRG can say up yours. You can see why the oil majors are now making a move. It's a win win situation for them ! And us LTHs |
 https://x.com/KurdistanWatch/status/1880641593641779433 Atwan Atwani, Chairman of the Iraqi Parliament's Finance Committee, outlined some important details that needs to be incorporated to the proposed amendment to increase the production cost of the KRG's oil production, including: 1. it must bind the KRG to export to oil via SOMO, 2. it should mandate the KRG to disclose the details of its oil contracts to the federal government and 3. involve the federal government in managing production fields and finally address all potential loopholes that could allow for non-compliance.He elaborated that during the committee meeting:- The resolution of KRG's oil production costs was identified as the key starting point for addressing broader Baghdad-Erbil disputes;- New legal frameworks were proposed to formalize relationships between Baghdad, Erbil, and international oil companies operating in Kurdistan, with specific timelines for implementation;- Participants emphasized the importance of the KRG's adherence to exporting its oil exclusively through SOMO, sharing details of oil contracts with the federal government, and involving federal authorities in the management of oil production fields.- The committee requested expedited submission of 2025 budget schedules to parliament to incorporate these changes, including provisions for financial reconciliation of previously unreported oil and non-oil revenues. |
The head of the Parliamentary Finance Committee, Atwan Al-Atwani: The committee has made significant progress in discussing the amendment of the budget law.#Iraq #Baghdad #Iraq_News. Al-Atwani: The amendment represents a starting point for establishing a legal framework for the relationship between the federal and regional governments in managing oil resources.#Iraq #Baghdad #Iraq_News. Al-Atwani: Our goal in approving the amendment is to bring the export of the region's oil under the authority of the federal government and eliminate suspicions of smuggling.#Iraq #Baghdad #Iraq_News. Al-Atwani: We are keen to establish binding legal provisions to resolve the issue of calculating the cost of the region's oil production within a specific timeframe and obligating the regional government to transfer revenues to the federal government.#Iraq #Baghdad #Iraq_News |
john@john78846295: Jan 15
#Iraqi Budget amendment VOTE is 2nd on agenda for Sunday.
Some still seeking concessions but Council of Ministers and Coordination Framework have approved it, indicating a positive vote. 🤞🤞🤞🤞 |
Hard to put specific times on proceedings I think as there's a lot of horse (camel) trading goes on. Going to be hard to concentrate on gate building without constantly checking my phone tomorrow, but then I've only been here for two years, not hardened to it all like some folks here 🫣 |
rmc: nobody really knows..
if there is something more important that comes up, or to many have objections it may get put off till the next session even...
But generally news tends to come in the evening on Sundays.
US markets are closed on Monday, so if it was good news maybe it would be better if they voted on Tuesday... |
Its all noise anyway...the company is obviously sold TBA.
This month. |
Probably lack of quorum....Imho
another Chimpanzees tea party...! |
What time is the budget vote/news expected UK time? |
Need more than luck, need a miracle |
I think deep down we all know what's going to happen tomorrow.
No resolution was agreed.we will need to form a committee to agree on the disagreements.
I do seriously hope I'm wrong , but we have been 500 times before.
We might even get a punch up in the iraq parliament tomorrow as certain politicians won't be getting as much as they thought.
They will need a wheel barrow full of brown envelopes and scatter them like confetti to get them to all agree lol. |
They are moving fast now I see. Just the small matter of 26 billion compensation to grease the wheels. Stupid is as stupid does. |
Things falling into place quite quickly now. Great to see. Good luck for tomorrow all longs ?? |
Israel falls into line, Iraq(Iran) falls into line all day before Trump takes the oath.I think they will get it passed.But anyway gkp has been sold TBA, no doubt the buyers will be approving the CEO payment very shortly...... |
"Maybe above relates to krg handing over all their oil. Icg should easily be able to afford budget payments then."
Morning beernut, you may well be right, Sudani sees the pipeline issue and the salary issue as being inextricably linked, "if we can get the pipeline open there will be enough money to pay the salaries".
This is what he said about it in early December:-
714714 - I think he's totally frustrated at having to send hundreds of millions of dollars every month without getting anything in return, he knows that reopening the pipeline is pivotal to resolving the financial disputes.
"Salary is not a political issue," al-Sudani emphasized, expressing hope that amendments to the budget law and the resumption of oil exports from the Kurdistan Region would help address the disputes.
The Iraqi Parliament convened on Wednesday to discuss four critical legislative items, including measures aimed at restarting oil exports from the Kurdistan Region. The resumption of these exports is seen as a pivotal step toward resolving financial disagreements between Erbil and Baghdad."
Let's hope he's managed to convince parliament and enough of them bother to turn up for the vote.
Fingers crossed. |
Maybe above relates to krg handing over all their oil. Icg should easily be able to afford budget payments then.
Gla |
Iraqi PM announces resolution of Kurdistan Region salary issue
“The salary issue of the Kurdistan Region civil servants has been resolved,” al-Sudani stated, signaling an end to one of the region’s long-standing challenges in its financial disputes with Baghdad.
1 day ago
Iraqi Prime Minister Mohammed Shia al-Sudani (right) and Kurdistan24 correspondent Dlovan Emadaldin, Jan. 16, 2025. (Photo: Kurdistan24)Iraqi Prime Minister Mohammed Shia al-Sudani (right) and Kurdistan24 correspondent Dlovan Emadaldin, Jan. 16, 2025. (Photo: Kurdistan24)
Kurdistan
Mohammed Shia al-Sudani
Kurdistan Region civil servants
ERBIL (Kurdistan24) — Iraqi Prime Minister Mohammed Shia al-Sudani announced the resolution of the salary issue for Kurdistan Region civil servants during an exclusive interview with Kurdistan24 correspondent Dlovan Emadaldin on Thursday.
“The salary issue of the Kurdistan Region civil servants has been resolved,” al-Sudani stated, signaling an end to one of the region’s long-standing challenges in its financial disputes with Baghdad.
On the subject of oil agreements, the Prime Minister revealed that discussions were ongoing during his visit to the United Kingdom. “My delegation is accompanying me in London and is aware of the oil agreements,” he said, emphasizing Iraq’s commitment to addressing international energy matters.
Al-Sudani also touched on Iraq’s geopolitical challenges, highlighting the nation’s stance on the Palestinian issue. “Iraq is going through a difficult situation because of its stance on the Palestinian issue, and they have been victims because of that stance,” he explained, pointing to the broader consequences of Iraq’s foreign policy in the region.
The Prime Minister is in London as part of a diplomatic and economic mission to strengthen bilateral ties and address pressing issues facing Iraq. |
Fridays are usually a down day as daytraders and spread betters close their trades over the weekend. So nothing unusual here.
So far as the pipeline opening? It would be a serious misjudgement by the ICG to keep it closed. It would risk BP /Kirkuk. Antagonise the new US President and reduce the probability of all future investment that they so desperately need.
However common sense and the good of Iraq as a whole dont seem to apply to this lot. (if past decisions are anything to go by). Hopefully this time will be an exception. Trump is holding a pretty strong hand with his sanctions threat and of course we have the KRG/Turkey connection.
GLA |
We should have news soon either way, the majority of people here I feel have stuck it out here for so long they are not the sellers...
Plus if you have a larger stake, its not that easy to buy the same amount back, plus spreads and what not...
It's a lot easier to look at the share price at the moment though than when it was in the 80's.. |
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