For me Genl, easy double, currently mkt cap nearly covered by cash |
 https://peregraf.com/en/news/8363 Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani has welcomed the Iraqi parliament's approval of an amendment to the federal budget law, calling it a crucial step toward resolving financial disputes between Erbil and Baghdad."We thank all those who helped make the amendment a success. We also thank the KRG negotiating team for working to establish a mechanism to resolve the salary issue," Barzani stated. "We hope that this positive step will lead to resolving all other outstanding issues and ensure the federal government's commitment to sending salaries and financial entitlements to the Kurdistan Region."The Iraqi parliament passed the amendment today, which is expected to facilitate the resumption of oil exports from the Kurdistan Region. Kurdish MP Dilan Ghafoor told Peregraf that the approved amendment, submitted by the Iraqi government, sets the cost of production and transportation of Kurdistan's oil at $16 per barrel, to be covered by the Iraqi Ministry of Finance.The KRG and oil companies have expressed satisfaction with the allocation, which is expected to ease the process of restarting exports. However, the $16 per barrel rate is a temporary measure. Within 60 days, a specialist company-appointed by mutual agreement between the KRG and the Iraqi federal government-will conduct an independent assessment to determine the actual production and transportation costs of Kurdistan's oil fields.As per the amendment, oil from the Kurdistan Region will be handed over to the Iraqi State Organization for Marketing of Oil (SOMO), with all revenue directed to the Iraqi treasury.Oil exports from the Kurdistan Region and Kirkuk have been halted since March 25, 2023, following a ruling by the International Court of Arbitration in Paris in favor of Iraq, in a case against Türkiye. The ruling led to the suspension of exports through the Ceyhan pipeline, significantly impacting the Kurdistan Region's economy.With the latest amendment, hopes are rising for a resolution that could bring much-needed stability to the Kurdistan Region's financial situation and its relations with Baghdad. |
All in costs in the South $26-27 per barrels.
Now talking about only a maximum of $22 for Kurd oilers.
Not good enough. Costs are the same, North and South.
If anything the Kurdy oilers would have higher costs as they are operating in a mountainous region with harsh winters. $34 for Kurdy oilers would be more appropriate.
Discriminatory and derisory.
Try again.
. |
Why neutral for Genl ? |
Our new target prices are: - Gulf Keystone GBP 3.0.
That'll do for starters. |
Sparebank 1 Markets’ update:
Iraq’s parliament has approved the long-awaited budget amendment to support production costs—and, by extension, revenue. As we understand it, this deal could pave the way for reopening the export pipeline, raising the realized oil price for Kurdi E&Ps from USD 26-35/bbl to near international levels (adjusted for quality). This would significantly boost revenue for oil companies. We upgrade DNO, Gulf Keystone and Shamaran to Buy (from Neutral). We keep Neutral for Genel. Our new target prices are: DNO NOK 15, Genel GBP 0.90, Gulf Keystone GBP 3.0 and Shamaran SEK 1.55 |
So can we expect some tentative M and A activity in the morning? The gates are now open. |
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 ." |
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! :-) |
"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://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 |
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