 Interesting that the matter was even mentioned, I wonder what was said....
hxxps://baghdadtoday.news/270301-%D8%A5%D9%86%D8%AC%D8%A7%D8%B2%D8%A7%D8%AA-%D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%AA%D8%AD%D8%B5%D9%91%D9%86-%D9%88%D8%B2%D9%8A%D8%B1%D9%87%D8%A7-%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AC%D9%88%D8%A7%D8%A8-%D8%A7%D9%84%D9%86%D9%8A%D8%A7%D8%A8%D9%8A.-%D9%84%D8%AC%D9%86%D8%A9-%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86%D9%8A%D8%A9-%D8%AA%D8%AF%D8%A7%D9%81%D8%B9.html
The Ministry of Oil's achievements protect its minister from parliamentary questioning. A parliamentary committee "defends" him.
Member of the Parliamentary Oil and Gas Committee, Intisar Al-Moussawi, confirmed today, Wednesday (March 19, 2025), that there is no justification for questioning the Minister of Oil, Hayan Abdul-Ghani, noting that there are no suspicions of corruption that would warrant this.
Al-Moussawi explained in a statement to Baghdad Today that "Minister Abdul Ghani was able to achieve clear accomplishments during his tenure as minister, as he succeeded in ensuring stability in the petroleum derivatives market, and Iraq achieved self-sufficiency in many products, which contributed to strengthening the general budget without the need for internal or external loans."
She added that "the Parliamentary Oil Committee does not intend to hold the minister solely responsible for any potential corruption within the ministry, especially since his tenure did not exceed two and a half years," noting that "many strategic projects were achieved during this period, such as the completion of the Karbala and Baiji refineries, in addition to other projects scheduled to be completed this year, such as the FCC (Factor Catalytic Cracking ) facility."
Al-Moussawi concluded her remarks by emphasizing that "the questions submitted to the minister do not rise to the level of an interrogation, especially in light of the progress achieved in the oil sector."
The oil sector has witnessed significant developments in recent years, as the government has focused on achieving self-sufficiency in petroleum products and strengthening refinery infrastructure.
These efforts come amid significant economic and security challenges, alongside Iraq's efforts to increase oil production and improve revenues amid fluctuating global oil prices.
In this context, Oil Minister Hayan Abdul Ghani assumed the leadership of the ministry amid challenges related to developing refineries, improving production, and combating corruption within the sector, according to observers.
Despite this, questions are occasionally raised about the ministry's performance and management of resources. However, the relevant parliamentary committee confirmed that the achievements made do not warrant questioning the minister, especially given the absence of documented corruption allegations against him. |
US State department pushing hard now. Video circulating on X. |
Let's say we get our overdue monies back in payments in kind in oil sales, whether local market or international, GKP should consider giving special dividends to holders at the time of the export.
Probably impossible to do, just a mull. |
A nice dividend announcement tomorrow to tide us over! |
More and more shares are being bought up while everyone sits on their hands. The float has been devoured already. |
https://x.com/MylesCaggins/status/1902456105139388865 More meetings and agreements are required before oil exports resume. |
God willing i will win the Euromillions on FridayYou couldn't make it up FFS |
"Halbousi noted that there are several points that are up for discussion, but stressed that the first step would be the resumption of exports."
He was doing ok until he said that. |
https://thenewregion.com/posts/1830 ERBIL, Kurdistan Region of Iraq - The Kurdistan Region's oil exports could resume next week, according to an Iraqi lawmaker on Wednesday, as relevant authorities continue talks on the proper mechanisms to restart the process after a two-year halt. The Iraqi parliament's oil and gas committee on Wednesday hosted a delegation from the federal oil ministry for a meeting aimed at resolving obstacles to resuming Kurdish oil exports. The meeting concluded without a definitive outcome, with the two sides set to continue talks next week. "God willing, the export of the Kurdistan Region's oil will resume next week, according to what the members of the committee formed by the oil ministry said," Haibat al-Halbousi, head of the parliament's oil and gas committee, told reporters following the meeting. Halbousi noted that there are several points that are up for discussion, but stressed that the first step would be the resumption of exports. Exports of the Kurdistan Region's oil through the Turkish Ceyhan pipeline, where part of Kirkuk's oil was also exported, were halted in March 2023 after Ankara lost a case against Baghdad in a Paris-based arbitration court. The case accused Ankara of breaching a 1973 agreement by allowing Erbil to start selling oil independent of Baghdad. After the nearly two-year halt, Baghdad and Erbil eventually announced late February that they reached an agreement to resume the Region's oil exports to the international market, but the process has yet to restart with international oil producers demanding payment surety, transparent implementation of Iraq's budget law stipulations, and resolution of payments that are in arrears before resuming the work. The halt in exports has dealt a major blow to Iraq and the Kurdistan Region's economy, with over $27 billion in lost revenue to date. |
Keeping the pressure on.
john
@john78846295
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#GKP #GENL $DNO $HKN $SNM #OOTT
@apikur_oil
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US State Department spokesperson: Washington urges Baghdad to reach an agreement with the IOCs to resume Kurdish oil exports "as soon as possible" and honour existing contracts with the US companies. |
https://x.com/RudawEnglish/status/1902444134809399723 BREAKING: Tammy Bruce, US State Department spokesperson, tells Rudaw's @diyarkurda that Washington urges Baghdad to reach an agreement with the international oil companies to resume the Kurdish oil exports "as soon as possible" and honor existing contracts with the US companies. |
In order to meet budget law requirement of 400k KRG production would have to double! Big oil anyone? He further stated that the federal budget law specifically stipulates that the KRG must deliver 400,000 barrels of oil daily to the central government. The KRG has recently declared its production capacity at only 300,000 barrels daily Of this 300,000 barrel production, the KRG wants to retain 115,000 barrels (combining domestic use and company payments) Furthermore, the KRG expects the federal government to finance these 115,000 barrels despite retaining them. |
Hehehe, no mention of anybody asking Apikur what they think about it.
Let's see.
Oil exports from Kurdistan Region set to resume next week, confirms Iraqi parliament official.
Speaking at a press conference, Halbousi highlighted the progress made in recent discussions, emphasizing that key amendments to the budget law and agreements on export routes through the port of Ceyhan are well underway.
ERBIL (Kurdistan24) – In a significant development for Iraq’s energy sector, Haibat Halbousi, chairman of the Iraqi parliament's oil and gas committee, announced on Wednesday that oil exports from the Kurdistan Region will officially resume next week.
Speaking at a press conference, Halbousi highlighted the progress made in recent discussions, emphasizing that key amendments to the budget law and agreements on export routes through the port of Ceyhan are well underway.
“Our meeting focused on amending the budget law and the resumption of oil exports from the Kurdistan Region through the port of Ceyhan. We will meet with the delegation next week,” he stated.
Officials from the Ministry of Oil, the State Organization for Marketing of Oil (SOMO), and the North Oil Company also confirmed the details, signaling a concrete step toward restoring oil exports from the region.
The Iraqi parliament convened on Wednesday to finalize the necessary measures, underscoring a collective commitment to economic stability and strengthening cooperation between the federal government and the Kurdistan Regional Government.
The long-anticipated resumption of oil exports is expected to bring positive economic impacts, reinforcing Iraq’s role as a key player in global energy markets. |
 The KRG has requested 46,000 barrels of oil per day for domestic consumption and an additional 69,000 barrels per day as entitlements for international oil companies, according to New Generation MP Rebwar Awrahman, who cited the Undersecretary of the Iraqi Ministry of Oil.
During a press briefing, Awrahman stated that they hosted the Undersecretary of the Iraqi Ministry of Oil who provided the following information regarding Kurdistan's oil exports:
• The KRG is requesting 46,000 barrels of oil daily for internal consumption needs
• The KRG is seeking an additional 69,000 barrels of oil daily as payment for international oil companies' entitlements
• The KRG has expressed reservations about the consulting firm that will assess Kurdistan's oil sector in coordination with both the KRG Ministry of Natural Resources and the Iraqi Ministry of Oil. This assessment aims to evaluate production costs, output capacity, and transportation expenses per barrel
• He further stated that the federal budget law specifically stipulates that the KRG must deliver 400,000 barrels of oil daily to the central government.
• The KRG has recently declared its production capacity at only 300,000 barrels daily
• Of this 300,000 barrel production, the KRG wants to retain 115,000 barrels (combining domestic use and company payments)
• Furthermore, the KRG expects the federal government to finance these 115,000 barrels despite retaining them. |
Yes JBG. Arrears debt amended pipeline open the share price will go straight to £7.56 imo. £1.6 Bn Mk cap for Shaikan is laughable. It was £2 Bn prior to PF 2 coming on line . |
Hugo is poised, John 🫡 |
City desks are shifting into gear now.
Shares are disappearing fast. |
Thanks for updates Habshan. |
Habshan. If GKP will produce the 6900 barrels each day it will want paying for them which will eat into the amount left to pay the arrears. |
That’s interesting. I’d modelled a 2 year repayment timeframe. If agreed this is a further positive.
Special dividend and FDP with increase in production and CPR ? |
"The KRG is seeking an additional 69,000 barrels of oil daily as payment for international oil companies' entitlements."
I assume that as the KRG don't have more than $1 billion to pay the arrears that's what they want the 69k bpd for.
69k at $70 a barrel is $4.83 million a day or $145 million a month.
I don't know the exact numbers but before the pipe was shut the Kurds were exporting around 400k bpd and let's say GKP were producing 10% of that, although just before the shutdown we did hit 55k bpd, but no matter, let's say 10%.
So 10% of 69k is 6.9k which at $70 a barrel would pay GKP $14.5 million a month off the arrears.
So the $150 million arrears would be paid off within a year.
Anybody? |
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