It does look as though there is a tug parked alongside the Port Capri whose, incidently, AIS system has been turned off for the past 14 hours. |
Yes. Me too ! |
Wonder what Ted thinks? |
I suspect we will see some sort of repayment agreement announced.Imo after giving the KRG 2 years credit already, a further deferment is ridiculous.I expect receipt of all outstanding monies, with the ICG funding that.150m kerching. |
There should be lots of GKP oil in storage tanks at Ceyhan, that could be sold and shipped now if terms get agreed |
They'd have to borrow .
BP cash on hand for the quarter ending September 30, 2024 was $41.120B |
All of a sudden the Ceyhan anchorage appears to have got busy with 2 oil tankers and an LPG tanker in waiting. Just an observation that I felt was interesting |
I've been wondering the same thing. It certainly helped get the vote through. Have they actually signed for kirkuk yet? |
BP poised to invest up to $25 billion ....Jeez.
There's a place up the road that's turn key and they would probably take
$15 billion...! |
Hmm--$25Billion on Kirkuk?In a disputed area?That was discovered in 1927?
Are we sure BP haven't come for Shaikan(Greater)--"The Country Maker"
I smell a rat.
We shall see.
GLA. |
Pretty decent finish. |
There's a huge payroll! |
Baghdad transfers over $726M to Kurdistan for January salaries
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Seems a very large number if that's monthly , that can't be right to cover a small percentage of population????? |
 https://www.argusmedia.com/en/news-and-insights/latest-market-news/2654180-baghdad-erbil-take-steps-to-restart-kurdish-oil-flows Iraq's oil ministry has officially asked the Kurdistan Regional Government (KRG) to start delivering oil to state marketer Somo as part of a deal reached between Baghdad and Erbil to restart north Iraqi crude oil exports through the Turkish Mediterranean port of Ceyhan."The Turkish and Iraqi governments are taking the steps to prepare the Iraq-Turkey pipeline [ITP] to export crude through the port of Ceyhan," Iraq's oil minister Hayan Abdulghani told state news agency INA. He said that no less than 300,000 b/d of the Iraqi semi-autonomous Kurdish region's crude will be exported once the pipeline is back in operation. "The debts owed by the Kurdistan region are being agreed upon between the two parties," he added.Abdulghani did not provide an official date for the resumption of exports. Iraq's oil ministry has been approached for comment.But his remarks signal that a restart of the country's northern crude is close, made possible by Iraq's parliament approving a key budget amendment on 2 February that will see oil companies operating in the semi-autonomous Kurdish region get $16/bl for their production and transportation costs, double the previous rate.As part of the amendment, an international consulting firm will be tasked with auditing Kurdish production and transportation costs over a 60-day period. Iraq's federal oil ministry and its KRG counterpart will co-ordinate on appointing the auditor but if they fail to reach agreement, the Iraqi government will make the selection unilaterally.Opec+ commitmentsDisagreement between Baghdad and the KRG over commercial terms has prevented the resumption of Kurdish crude exports have yet to resume from Ceyhan after the pipeline linking the port with oil fields in northern Iraq was closed by Turkey in March 2023.The closure followed an international arbitration ruling that said Turkey had breached a bilateral agreement with Iraq by allowing KRG crude to be exported without Baghdad's consent.While the resumption of oil flows via Ceyhan should give the Iraqi oil ministry more visibility on how much crude is being produced in the Kurdistan region, Baghdad may still find itself in a dilemma as regards its Opec+ commitments.Iraq has been the biggest overproducer in Opec+ for over a year, and officials there have said a lack of visibility about output from the northern region has complicated its efforts to comply. Baghdad will now have to balance its own production alongside that of Erbil, while ensuring it adheres to its Opec+ quota and its compensation commitments.Opec+ has come under pressure as US President Donald Trump recently called for the producer group to "bring down the cost of oil". But so far, Opec+ has not heeded those calls with its key ministerial panel agreeing on 3 February to keep its policy as is, meaning it would not see any production returned to market until at least April. |
Coming days
Commence soon
Kurdistan Region Oil Transfer to SOMO started
The minister also revealed that discussions are ongoing with the Turkish government to reactivate the Iraq-Turkey pipeline, which runs through the Turkish Port of Ceyhan, facilitating the resumption of Kurdistan’s oil exports.
6 hours ago
Iraq’s Minister of Oil, Hayan Abdul Ghani. (Photo: INA)Iraq’s Minister of Oil, Hayan Abdul Ghani. (Photo: INA)
Iraq
Hayan Abdul Ghani
Iraqi Oil Minister
Feb. 4, 2025
ERBIL (Kurdistan 24) – Iraq’s Minister of Oil, Hayan Abdul Ghani, announced on Monday that the federal government has officially begun the process of transferring Kurdistan Region’s oil to the State Organization for Marketing of Oil (SOMO).
Speaking to the Iraqi News Agency (INA), Abdul Ghani stated that the Ministry of Oil has formally communicated with the Kurdistan Regional Government (KRG) through an official directive, outlining the procedures for the lawful handover of oil to SOMO.
The minister also revealed that discussions are ongoing with the Turkish government to reactivate the Iraq-Turkey pipeline, which runs through the Turkish Port of Ceyhan, facilitating the resumption of Kurdistan’s oil exports.
"The designated volume for transfer to the federal Ministry of Oil will not be less than 300,000 barrels per day," Abdul Ghani confirmed.
In a similar development, Iraqi Deputy Speaker of the Council of Representatives Dr. Shakhawan Abdullah, affirmed Monday that Kurdistan’s oil exports would resume in the coming days, removing a major point of contention between Erbil and Baghdad.
Addressing a press conference attended by Kurdistan 24, Abdullah stated: "There are no longer any legal obstacles preventing the resumption of Kurdistan Region’s oil exports, and the process will commence soon."
On Sunday, the Iraqi Parliament approved an amendment to the federal budget, aiming to resolve the longstanding dispute between the Kurdistan Region and the federal government over oil revenues.
Read More: Iraqi Parliament Approves Budget Amendment, Clearing Path for Kurdistan Oil Exports
With the legal framework now in place and technical preparations underway, the upcoming days are expected to mark a significant step toward restoring Kurdistan’s oil exports, reinforcing economic stability and cooperation between Erbil and Baghdad. |
Baghdad transfers over $726M to Kurdistan for January salaries
Kurdistan
Erbil
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The Kurdistan Regional Government
Baghdad transfers over $726M to Kurdistan for January salaries
2025-02-04 09:54
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Shafaq News/ The Kurdistan Regional Government (KRG) announced, on Tuesday, that the federal government has transferred over 950 billion IQD (approximately $726 million) to the Kurdish Ministry of Finance and Economy to cover the previous month’s salaries.
KRG spokesperson Peshawa Hawramani confirmed that the federal Ministry of Finance deposited 958,012,332,759 IQD ($732,728,551) into the KRG's Ministry of Finance account.
Hawramani stated that the KRG will begin distributing the January salaries as soon as possible, following the procedures established by the Ministry of Finance.
On Monday, the Kurdish Ministry of Finance announced that a final agreement had been reached with Baghdad to resolve the longstanding issue of public sector salaries, following several days of technical meetings between the two sides.
The payment of public sector salaries in the Region has been a contentious issue between Baghdad and Erbil, particularly after the Iraqi Federal Court's decision last year, which mandated both the Iraqi and Kurdistan region’s prime ministers to settle salaries through the federal banking system.
While Baghdad has affirmed its commitment to the court ruling, it has conditioned the submission of detailed employee lists, a point of concern for the KRG Ministry of Finance due to uncertainties surrounding the handling of the lists.
The Kurdistan Region is currently facing a financial crisis and liquidity shortage, worsened by the suspension of oil exports to Turkiye through the Ceyhan pipeline. Ankara halted the flow of oil following an international arbitration ruling requiring Turkiye to compensate Baghdad for damages.
Meanwhile, the federal government is also grappling with a significant budget deficit exceeding 64 trillion Iraqi dinars (approximately $48.9 billion), and domestic debt is reported to have reached roughly 14.5% of Iraq's GDP, according to official data. |
Use google finance It's well goodYou get live share prices |
I'm holding for at least £100 per share. |
Thanks for that |
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