Wasn't it a comment made by John G. at the AGM?
Will have to go through the recent announcements when back home in front of my PC. |
Where do you get that info? I assumed we would just be getting paid on delivery. |
IIRC GKP is being paid monthly in advance for oil to the local market. As we are at the start of the month won't this need to be completed first? |
https://x.com/john78846295/status/1886078089089745028 10-15 days to implement budget amendment and get oil flowing... which means there must also be agreement with IOCs on payments and receivables... |
That may be left to future buyers of GKP to negotiate. |
Congratulations to all lth for staying the course, it's certainly been something I would never want to re-live, after being wiped out and making some poor decisions over the last 15 years, I am here today with more shares than ever, and ready to enjoy the rewards that will follow - the next few months will be very exciting until some company shows their hand and takes us out. |
Why would we restart exports when we haven’t been paid the arrears yet? We’re owed around 50% of our entire market cap. |
https://x.com/thenewregion/status/1886067252023497017 Commenting on today's vote to amend the federal budget law at the Iraqi parliament, which will see the resumption of the Kurdistan Region's oil exports, KRG Spox Hawramani thanked Kurdish parliamentary blocs in the Iraqi parliament, while adding oil companies will be part of negotiations for the resumption of the exports |
Tanker Ted will know before any of us. |
Must be ready to restart the crude tanker tracking posts now... any there already or on their way? |
Excellent news but will it result in oil flowing in the immediate term. The KRG have the back stop of not doing anything with Iraq and cutting a deal in September which sidelines Iraq. Was getting the salary situation under control their primary objective with oil being secondary but a nice bonus if Iraq agreed to reopen the pipeline.
What agreements are the IOCs now supposed to operate under and when will they agree to any changes. APIKUR have been making the right placating noises re SOMO etc but given how close to September we are will that stance change. |
Were there any shorts still open? |
It will have been maintained. It may even be full of oil ready to ship. |
Habs
Are not the payments for oil exports via SOMO paid directly to the Iraqi government who pau us for lifting and shifting?
We need some guidance from APIKUR I wonder whether BP will accept this costing method. The Iraqis tore up our legal contracts and made their own. Have we been nationalised? |
It's a start. I'd keep the celebrations on ice until the pipeline is restarted and operational - that won't be an easy feat given the time it has been left to rot. |
If it's in the Peak District- I will be there! |
 https://www.bloomberg.com/news/articles/2025-02-02/iraqi-assembly-clears-long-running-pay-dispute-over-kurdish-oil ubscribeMarketsIraqi Assembly Clears Long-Running Pay Dispute Over Kurdish OilParliament backs hiking payments to firms in Kurdistan regionMove is a step toward resuming exports paused in early 2023By Khalid Al Ansary and Salma El Wardany2 February 2025 at 13:27 GMTSaveTranslateListen1:38Iraq's parliament passed a long-awaited plan to boost payments to oil companies in the semi-autonomous Kurdistan region, a step toward resuming exports from the area that were halted almost two years ago.The assembly on Sunday voted in favor of a plan approved by the cabinet in November that would amend the budget to allow Baghdad to pay out $16 a barrel for oil production and transportation, according to a statement.While that moved forward Iraq's negotiations for a deal with the Kurdistan Regional Government, it was still below the $26 a barrel that Iraqi Prime Minister Mohammed Shia Al-Sudani has said oil firms get from their current contracts in the region.Cost disputes have held up a full restart of flows from Kurdistan, keeping about half a million barrels a day of supply away from global markets. The exports were previously sent via pipeline to the Mediterranean port of Ceyhan in Turkey.Restarting the conduit may pose a dilemma for Baghdad, which is obligated to reduce crude output as part of an OPEC+ agreement, but has been struggling to adhere to promised cutbacks. Iraq is looking to increase revenues to rebuild its shattered economy. |
"How much $ extra for profit?"
We don't know any details as yet.
At the moment we get 36% of $28 or around $10 per barrel.
The new deal is $16 which will then be adjusted (presumably up), but the IOCs do not have to accept anything less than they are paid under their current PSCs.
And we can now ramp production back up to 55k bpd. |
$16 lifting cost. How much $ extra for profit? |
How's the sludge monster and Mr putsitive over on Lse going to respond to this news I wonder. |
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