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[beernut1] 30/5/2024 05:58

KRG says it is ready for talks on resuming oil exports After Baghdad "ASAP" call
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KRG says it is ready for talks on resuming oil exports After Baghdad "ASAP" call
2024-05-29 20:13


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Shafaq News/ The Kurdistan Regional Government's (KRG) Ministry of Natural Resources said on Wednesday it was ready to visit Baghdad again to discuss resuming oil exports from northern fields, following a call from the federal ministry for a meeting "as soon as possible".
Both sides are seeking a resolution to the long-standing dispute over the control of hydrocarbon resources under the jurisdiction of the semi-autonomous region. The federal Ministry of Oil said in a statement on Tuesday it wanted to restart production in Kurdistan's fields and resume exports "through the northern system in a way that serves the national interest."
International companies operating in the Region were also invited.
The KRG's natural resources ministry said in a statement it had already met with federal counterparts in January and May this year and awaited the outcome of those discussions. It added its readiness to travel to Baghdad "next week to resolve this issue."
Traffic via the Iraq-Turkiye oil pipeline (ITP), which once handled about 0.5% of global oil supply has been halted, stuck in legal and financial limbo, since March 2023, and talks to resume the exports have stalled.
The sharing of oil revenues between Iraq's federal government and the Kurdish-majority region in the north has been a cause of tensions between the two sides.
Flows through the pipeline to the Ceyhan port were halted after the Paris-based International Chamber of Commerce in a longstanding arbitration case ruled Ankara had violated provisions of a 1973 treaty by facilitating such exports without the consent of the Iraqi federal government.

[beernut1] 30/5/2024 05:56

Sorry if posted just skipping thro news quick

Iraqi Ministry of Oil has announcement for Kurdistan Region and international oil companies
Exporting oil from Kurdistan Region is very important for the Iraqi’s entire oil industry, 400.000 barrels are produced per day in the region. author_image Kurdistan 24 Digital Media
13 Hours

Association of Petroleum Industry of Kurdistan APIKUR’s Spokesperson (Photo: Kurdistan 24)
Association of Petroleum Industry of Kurdistan APIKUR’s Spokesperson (Photo: Kurdistan 24)
Kurdistan Kurdistan APIKUR Resuming KRGs Oil Exports IOCs Myles Caggins Iraqi Ministry of Oil
ERBIL (Kurdistan24) – The APIKUR Spokesperson Myles Caggins revealed Kurdistan 24 that the Iraqi Ministry of Oil, in an announcement, invites the international oil companies and Kurdistan Region for a meeting, also they want for the oil export to reopen quickly.

According to the Myles Caggins’ statement, it is the first time since January, the Iraqi Ministry of Oil (IMO) comes forward to invite the APIKUR and international oil companies (IOCs) to discuss the terms and any changes in the contract.

Read More: Iraqi Oil Ministry calls for immediate resumption of oil exports from Kurdistan Region

The APIKUR sent a response to IMO willing to attend the meeting, as well as the IOC are ready to resume exports through the pipelines.

Caggins emphasized “After APIKUR’s statement on Tuesday, we heard a message from Baghdad agreeing to meet up, we are open to any discussions and new contracts, but any changes must include APIKUR members and KRG”

Read More: APIKUR emphasizes tripartite dialogue for resumption of oil exports

Caggins couldn’t give any details in regards because the international companies have not seen any formal invitation, paperwork or agenda proposed about the new contract or new terms and conditions. APIKUR’s Spokesperson rather focused on all the 3 groups must work together: Baghdad, Erbil and the oil companies. “The APIKUR members are ready to review proposals, do negotiations and discuss any proposed contract and new terms and conditions,” Caggins added further.

Caggins stated “The companies are, currently, doing local sales, and to local refineries, but we prefer to have exports through the Iraq-Turkey pipeline,”. He believes that oil from Kurdistan Region is important for the Iraqi’s entire oil industry, at present oil is being exported through the south of Iraq. Yet, in Kurdistan Region 400.000 barrels are produced per day, that indicates to having the second pathway for oil in the north (Kurdistan Region), to depart Iraq.

“OPEC meetings will happen on Jun 2nd, the oil from Kurdistan Region must be included in Iraq’s OPEC’s quotas,” Caggins continued. However, the APIKUR members have not received any formal written agreement, but there is a meeting and discussion proposed by the IMO, and Caggins is pessimistic about this forthcoming step.

Caggins added “We look forward to the meeting, review new proposals and each company, must make their own decision, each has individual separate contract with DNO, HKN”

[beernut1] 30/5/2024 05:55

From the beginning, we were in favor of resolving oil export issue: KRG Ministry of Natural Resources
“The committee last met on May 19 and 20 in the presence of representatives of the Ministry of Natural Resources. We are now waiting for the results of the committee meeting, and we are ready to visit Baghdad next week to resolve this issue,” the statement added. author_image Kurdistan 24 Digital Media
10 Hours

The logo of KRG Ministry of Natural Resources. (Photo: Kurdistan24)
The logo of KRG Ministry of Natural Resources. (Photo: Kurdistan24)
Kurdistan KRG Ministry of Natural Resources Iraqi oil ministry
ERBIL (Kurdistan24) – The Kurdistan Regional Government (KRG) Ministry of Natural Resources announced in a statement on Wednesday that from the beginning, we were in favor of resolving the oil export issue.

“Regarding the letter of the Iraqi Oil Ministry for an emergency meeting to resolve the issue of oil exports, we as the Ministry of Natural Resources from the beginning were in favor of resolving the issue as soon as possible and exporting oil through the Ceyhan port,” the statement read.

The statement also revealed that in December of this year, the KRG Ministry of Natural Resources delegation met with the chairman of the parliamentary finance committee and the federal government committee in the three ministries of oil, planning, and finance.

“The committee last met on May 19 and 20 in the presence of representatives of the Ministry of Natural Resources. We are now waiting for the results of the committee meeting, and we are ready to visit Baghdad next week to resolve this issue,” the statement added.

Iraq's Oil Ministry on Tuesday invited the KRG Ministry of Natural Resources and companies operating in the region to meet in Baghdad as soon as possible.

[beernut1] 30/5/2024 05:50

From Lse
A reply to above

Conoco Marathon - 22.5 Bn29 May 2024 21:52
Including debt of 5.4 bn it’s 22.5 bn$

So consistent with recent valuations of 1 Bn $ per 100 million p2 reserves

[beernut1] 30/5/2024 05:48

From Lse

Marathon oil29 May 2024 21:42
Ok very different scenario (location, size and assurance of payment, grade of oil etc etc etc) however interesting to see a valuation of approx $17bn for approx 2bn barrels of oil.

[beernut1] 30/5/2024 05:47

From Lse

For those who think that OPEC is a side issue, here’s a quote from our favourite spokesperson,speaking to his favourite outlet, Kurdistan24:-

“OPEC meetings will happen on Jun 2nd, the oil from Kurdistan Region must be included in Iraq’s OPEC’s quotas,” Caggins continued.

If belgrano is correct and allowances will be made then there’s no problem. On the other hand…

[radfordp] 29/5/2024 20:36

ShaMaran not a bad punt..

Along with us..


huge moves

[beernut1] 29/5/2024 18:56

News getting around from Lse

PositiveToday 15:45

[redbed] 29/5/2024 18:55

#GKP #GENL $DNO $HKN $SNM #Kurdistan@apikur_oil: We think that Baghdad is now listening.https://x.com/john78846295/status/1795881708601893099?s=61&t=EEAJRmerpfLiAmForyb8Dw

[beernut1] 29/5/2024 18:53

From Lse. Maybe same as Confused Gerbil

RE: PositiveToday 19:27


The Kurdistan Regional Government (KRG) has responded to a statement by the Iraqi Oil Ministry on the resumption of oil exports, saying it is ready to visit Baghdad next week.

Earlier, the Iraqi Oil Ministry had invited the Kurdistan Regional Government's Ministry of Natural Resources and oil companies to an emergency meeting to discuss the resumption of oil exports.

"We have been in favor of resolving the issue as soon as possible and exporting the oil through the world ports," he said.

"We have visited Baghdad several times and in December this year we met with the chairman of the parliamentary finance committee and the federal government committee in the three ministries of oil, planning and finance and the minutes were signed," he said.

"The committee last met on May 19 and 20 in the presence of representatives of the Ministry of Natural Resources. We are now waiting for the outcome of the meeting and are ready to visit Baghdad next week to resolve this issue," the statement said.

[confused _gerbill] 29/5/2024 18:25

Rudaw
Natural Resources to the Iraqi Oil Ministry: We are ready to visit Baghdad next week
14 m

Rudaw Digital

The Kurdistan Regional Government (KRG) has responded to a statement by the Iraqi Oil Ministry on the resumption of oil exports, saying it is ready to visit Baghdad next week.

Earlier, the Iraqi Oil Ministry had invited the Kurdistan Regional Government's Ministry of Natural Resources and oil companies to an emergency meeting to discuss the resumption of oil exports.

"We have been in favor of resolving the issue as soon as possible and exporting the oil through the world ports," he said.

"We have visited Baghdad several times and in December this year we met with the chairman of the parliamentary finance committee and the federal government committee in the three ministries of oil, planning and finance and the minutes were signed," he said.

"The committee last met on May 19 and 20 in the presence of representatives of the Ministry of Natural Resources. We are now waiting for the outcome of the meeting and are ready to visit Baghdad next week to resolve this issue," the statement said.

hxxps://www.rudaw.net/sorani/business/290520243

[habshan] 29/5/2024 17:33

No detail as yet but things seem to be moving.

An hour ago - Iraqi Ministry of Oil has announcement for Kurdistan Region and international oil companies.

Exporting oil from Kurdistan Region is very important for the Iraqi’s entire oil industry, 400.000 barrels are produced per day in the region.

ERBIL (Kurdistan24) – The APIKUR Spokesperson Myles Caggins revealed Kurdistan 24 that the Iraqi Ministry of Oil, in an announcement, invites the international oil companies and Kurdistan Region for a meeting, also they want for the oil export to reopen quickly.

According to the Myles Caggins’ statement, it is the first time since January, the Iraqi Ministry of Oil (IMO) comes forward to invite the APIKUR and international oil companies (IOCs) to discuss the terms and any changes in the contract.

The APIKUR sent a response to IMO willing to attend the meeting, as well as the IOC are ready to resume exports through the pipelines.

Caggins emphasized “After APIKUR’s statement on Tuesday, we heard a message from Baghdad agreeing to meet up, we are open to any discussions and new contracts, but any changes must include APIKUR members and KRG”

Caggins couldn’t give any details in regards because the international companies have not seen any formal invitation, paperwork or agenda proposed about the new contract or new terms and conditions. APIKUR’s Spokesperson rather focused on all the 3 groups must work together: Baghdad, Erbil and the oil companies. “The APIKUR members are ready to review proposals, do negotiations and discuss any proposed contract and new terms and conditions,” Caggins added further.

Caggins stated “The companies are, currently, doing local sales, and to local refineries, but we prefer to have exports through the Iraq-Turkey pipeline,”. He believes that oil from Kurdistan Region is important for the Iraqi’s entire oil industry, at present oil is being exported through the south of Iraq. Yet, in Kurdistan Region 400.000 barrels are produced per day, that indicates to having the second pathway for oil in the north (Kurdistan Region), to depart Iraq.

“OPEC meetings will happen on Jun 2nd, the oil from Kurdistan Region must be included in Iraq’s OPEC’s quotas,” Caggins continued. However, the APIKUR members have not received any formal written agreement, but there is a meeting and discussion proposed by the IMO.

[ptmorris1] 29/5/2024 17:23

Anyone else here not receive any communication through the post?

[shortsqueezer] 29/5/2024 16:49

What are the resolutions in the forthcoming agm that I'm being asked to vote for? The chairman has suggested I vote for all resolutions on the card I received in the post. I've still to do it yet.

[herbertsmithfreehills] 29/5/2024 14:47

It's a dichotomy that if they have enough votes to vote through the sale then they have enough to vote through the resolutions.Which implies we may have an announcement very soon.

[herbertsmithfreehills] 29/5/2024 14:16

Well if an intervention coming has to be well before AGM

[johnbuysghost] 29/5/2024 14:12

The city knows about 'hostile'.
Time is running out so a public bid is coming

[steephill cove] 29/5/2024 13:23

Calling all Goldman Sachs employees “Roll Up! Roll Up!“ 📣

ICG calling an urgent meeting to legitimise all Kurdistan IOC contracts ✅

The GKP PRICE IS RIPE for your 25 x Annual Salary Growth Bonus 😆👍📈⬆ʊ39;🆙💪;

[furenstaurus] 29/5/2024 13:21

X
Its wakey wakey on the East Coast across the pond , and for the 30,300th time Yankee Doodle Condog posts AND ONLY EVER ON THIS STOCK ( barely credible - LOL ) the paid American sentiment basher clocks in for work.
If CARLSBERG did BUY signals.
FILL YER BOOTS
TAKEOVER RNS INCOMING
THIS MONTH.

[steephill cove] 29/5/2024 13:16

Bigdog5 clucking like a headless chicken! 🐔

Not going your way is it luv? 😭

[habshan] 29/5/2024 13:16

"Day 432 of no pipe scotty snowflake, you said just a couple!!"

Day 1,533 of no wipeout mk2 Sarah, something that you've since predicted another 47 times.

So how's that one going.

[pittcock] 29/5/2024 13:08

Looking good here folks