Just cracked open a bottle of Jack Single Barrel and I drink to all 2009 die hards health and wealth......and remember those we've lost along the way.
GLAlongs!!! |
Terms and Conditions Apply...... you bet they do. We`re not here out of philanthropy
Just covering our costs is not enough. How does one build in payments for risk, capital investment, back payments from KRG as well as the damages for pipe closure.
Caggins has work to do I hope that he reads this thread.. |
Anyone else looking forward to tomorrow? I could crush a grape! :-) |
![](https://images.advfn.com/static/default-user.png) "On Sunday, the Iraqi Parliament’s Finance Committee revealed that the cost of oil extraction in the Kurdistan Region, initially set at $16 per barrel in the recently approved budget amendment, is not fixed and could rise to $22 per barrel based on assessments by a consulting firm."
Well that didn't take long. Now that the amendment has been passed they can start talking about the real costs.
It was a nightmare convincing parliament to approve $16 maybe more maybe less, if they'd been asked to approve $22 it would have been impossible.
Better to leave it wooly until it was passed.
$22 is more like it but imo even that is low. In the Gayara field 55 miles south of Shaikan the costs are $26-27 a barrel and the MoO are happy to pay it, and Kurdistan has far more complex geology.
The Kurdish IOCs will drive a hard bargain, now the contracts and the Kurdish oil sector have been ruled legal they're in a very strong position and have a right to see their commercial terms honoured, it's them who decide whether oil get's produced for export or not. |
He wouldn't even know where Iraq or Kurdistan were. |
![](https://images.advfn.com/static/default-user.png) https://shafaq.com/en/Iraq/Parliament-Finance-Committee-Kurdistan-oil-costs-may-reach-22-per-barrel Shafaq News/ On Sunday, the Iraqi Parliament's Finance Committee revealed that the cost of oil extraction in the Kurdistan Region, initially set at $16 per barrel in the recently approved budget amendment, is not fixed and could rise to $22 per barrel based on assessments by a consulting firm.Committee member Ikhlas Al-Dulaimi told Shafaq News that Parliament voted on the budget amendment as submitted by the federal government, explaining that "while the extraction cost is currently estimated at $16 per barrel, a consulting company will determine the actual expenses, which could reach $22 per barrel," emphasizing that the federal government will be obligated to cover the verified costs.Al-Dulaimi also stated that under the amended budget, oil from the Kurdistan Region must be delivered to the State Organization for Marketing of Oil (SOMO), which will oversee its export. She clarified that the halt in oil exports was not initiated by the Kurdistan Region but resulted from a lawsuit filed by the federal Oil Ministry against the KRG's Oil Ministry, which led to the suspension that has cost the federal government over $14 billion in lost revenues.Earlier today, the Iraqi Parliament approved the first amendment to the Federal Budget Law for 2023-2025, despite controversy surrounding the session's legitimacy. Independent MP Ahmed Majid told Shafaq News that lawmakers representing central and southern provinces boycotted the session, arguing that the vote "violated parliamentary law and internal regulations due to a lack of quorum," adding that opposition MPs plan to challenge the legality of the session and the budget amendment before the Federal Supreme Court.Notably, despite the boycott and planned legal appeal, parliamentary sources indicate that the vote is expected to stand. |
Was Trump involved in some part? |
Apikur’s statement will be interesting as I can’t see any oil being transported until they have agreement in place for payment of arrears and confirmation the terms payable by SOMO/ICG are in line with the existing contracts. |
Will probably open down knowing GKP |
bobygray I dont know but I think itwill be significantly higher |
Every major on earth is lining up to enter greater Shaikan. This is going to get nuts. |
Over 2 tomorrow I think |
https://www.kurdistan24.net/en/story/822775/kurdistan-region-civil-servants-salaries-to-be-sent-shortly-says-krg-spox |
https://x.com/john78846295/status/1886072845811253430?s=46Commenting 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 |
We're paid in advance not monthly.
25/9/23 - "The Company is receiving advance payments into its UK bank account for its net entitlement of 36% of gross sales revenue." |
I have traded this share well over the last two weeks ,not anymore. It's for hold now. |
Zoom News
@zoomnewskrd
Follow
#LATEST: The Kurdistan Region’s Ministry of Natural Resources will soon take necessary steps to resume oil exports following an amendment to the budget bill by the Iraqi parliament on Sunday, KRG spokesperson Peshawa Hawramani announced, highlighting strong coordination between Baghdad and Erbil to address outstanding issues. |
The expert assessor would be a UK organisation |
Who would pay anyone monthly in advance |
The all in cost per barrel in the South is $26-27.
The $16 for Kurdistan oil does not cover all costs. The experts called in to assess those extra costs, within 60 days I understand, will need to be known ASP. Payments for ALL costs for past and present need to be watertight before APIKUR gives a green light.
One step today, with more steps to come until APIKUR gives the OK.
. |
The company is obviously sold TBA.That has been obvious for months., since AGM resolutions.BTW should hear tomorrow rgds the rest of Jon's stay bonus...Stage manage path continues so yes I agree.. "I expect lots of good news and PR pouring out of GKP - and broker 'transformational ' upgrades - and takeover target articles etc.Plus I think the company will start buying back.IMO the stage management requires them to get this a lot nearer the ultimate takeover price in mkt than it is now.Let see if the brokers start buying them in.That would Gamestop this higher ." |
Well if that is the case then they will fulfill that monthly contract before switching to the pipe. |