Planned I think |
OT but thanks to beernut for that direct numbers to Barclays Stockbrokers. Apparently they are still clearing up some issues and my missing transfer is amongst them. It's being dealt with and my payment has been highlighted. Thanks again. |
I doubt that the consequential losses will be paid but certainly the money owed for oil already delivered should be. IIRC that's $150m for GKP, is it not? |
Cumulative losses at $26.3 Bn for Akipurs 8 Cos . Goes up $1000 a second approx. |
https://x.com/apikur_oil/status/1886438044695146621 APIKUR welcomes the Iraqi Council of Representatives Budget Law amendment, and remains focused on reaching agreements to restore oil exports through the Iraq-Türkiye Pipeline. #oil #iraq #Kurdistan |
Is this as a result of yesterday's vote or was it planned anyway? |
Genel q and a tomorrow. Should be interesting |
I think it's also encouraging that just like that! They can now guarantee all the salaries to be paid for the foreseeable future, certainly the whole of 2025. |
So, "trust" between the ICG and KRG now looks restored, albeit KRG oil money now goes straight to ICG via SOMO.
The budget law amendment is a good first step but APIKUR won't let their "boot" off the ICG "neck" until agreements are reached that are non detrimental to the current PSC's and all back payments (amounting to $ hundreds of millions across APIKUR members) are agreed/made.
The validity of the contracts is now beyond any doubt having been ratified by all Iraqi courts and the international community.
Let's see how the rest of February plays out as APIKUR hold all the cards.. |
Still waiting for the rest of Jon's stay bonus to be RNS d. |
https://x.com/thenewregion/status/1886417918872666378 KRG Finance Minister Awat Sheikh Janab announces that they have reached an agreement with the Iraqi federal government to finance the salaries of the Kurdistan Region's civil servants for the entirety of 2025 "without any issues" |
Kev--thanks
In late January, Iraqi Foreign Minister Fuad Hussein affirmed that the regional and federal government, along with international oil companies (IOCs), had reached a written agreement.
Sounds promising. Maybe there is after all just the lifting and shifting bit to be sorted
PS We need to be reassured about the details because this lot are good at agreeing to agree that they need to agree. |
 https://www.rudaw.net/english/middleeast/iraq/030220252 ERBIL, Kurdistan Region - Oil producers in the Kurdistan Region on Monday welcomed the Iraqi parliament's approval of a budget amendment that increases compensation for their production costs, a move seen as crucial for restarting oil exports through the Iraq-Turkey pipeline."APIKUR welcomes the Iraqi Council of Representatives Budget Law amendment, and remains focused on reaching agreements to restore oil exports through the Iraq-Türkiye Pipeline," said Myles Caggins, spokesperson for the Association of the Petroleum Industry of Kurdistan (APIKUR).The Iraqi government proposed an amendment to the three-year federal budget law's Article 12 in November. The lawmakers passed the bill on Sunday after months of discussions.The law authorizes compensation to international oil companies (IOCs) operating in the Kurdistan Region for oil production and transportation costs, setting the rate at $16 per barrel, a substantial increase from the $6.90 set in the federal budget that was passed in June 2023.In November, Caggins told Rudaw that the provision of a written agreement is a precondition for the restart of Kurdistan Region's oil exports.In late January, Iraqi Foreign Minister Fuad Hussein affirmed that the regional and federal government, along with international oil companies (IOCs), had reached a written agreement.Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been suspended since March 2023 after a Paris-based arbitration court ruled in favor of Baghdad against Ankara, saying the latter had violated a 1973 pipeline agreement by allowing Erbil to begin independent oil exports in 2014.Before the halt, Erbil exported around 400,000 barrels per day through the pipeline, in addition to some 75,000 barrels of Kirkuk's oil.The KRG has struggled to pay the salaries of its civil servants on time and in full for a decade due to a financial crisis that further deteriorated after the oil export halt. Erbil is reliant on its local income and federal budget funds. |
hxxps://www.kurdistan24.net/en/story/822900/apikur-welcomes-the-iraqi-parliament-budget-law-amendment-spokesperson |
https://x.com/thenewregion/status/1886391566689862078 The KRG's Ministry of Natural Resources welcomed Monday the amendment to the Federal Budget Law, describing it as a "positive step" toward a final solution to the oil dossier, while calling on Iraq's oil ministry to implement the law and "begin technical preparations" for the resumption of the Kurdistan Region's oil exports statement |
https://x.com/zoomnewskrd/status/1886390006220202415 BREAKING: The Kurdistan Region's Ministry of Natural Resources has welcomed the approval of the Iraqi budget law amendment as a "positive step" toward resolving the Kurdistan Region's oil issue. The Ministry expresses hope that approval marks the beginning of a new phase in addressing all outstanding issues and calls on the Iraqi Ministry of Oil to implement the amendment and prepare the necessary technical arrangements - statement |
There is still so much to be negotiated that I`m surprised by today`s enthusiasm. I don`t mind making money but will feel much better when the final terms are agreed.
Caggins has his work cut out because they don`t like us taking and profiting from what is theirs. It`s just possible however that given all that has gone on when the lifting and shifting has been sorted they allow us to have the same profitability envisaged in the PSCs |
Same quote! https://www.kurdistan24.net/en/story/822900 ERBIL (Kurdistan24) - APIKUR welcomes the Iraqi Council of Representatives Budget Law amendment, Myles Caggins, Spokesperson for the Association of the Petroleum Industry of Kurdistan (APIKUR) told Kurdistan24 on Monday. "APIKUR remains focused on reaching agreements to restore oil exports through the Iraq-Turkey Pipeline," Caggins added. In a landmark move, the Iraqi Parliament has approved a key amendment to the federal budget law, clearing the path for the resumption of oil exports from the Kurdistan Region.The session, held on Sunday, was attended by 176 members, with a majority vote securing the amendment's passage, specifically addressing Article 12, which governs oil export agreements between Erbil and Baghdad.Read More: Iraqi Parliament Approves Budget Amendment, Clearing Path for Kurdistan Oil Exports"The Iraqi Parliament's approval of the general budget amendment will strengthen ties between the Kurdistan Regional Government (KRG) and the federal government while boosting national revenues," Vian Sabri, Head of the Kurdistan Democratic Party (KDP) Faction in the Iraqi Parliament, told Kurdistan24 on Sunday.Sabri noted that a key provision in the amendment calls for the establishment of a specialized international advisory committee to assess the cost of extracting oil from KRG-controlled fields. She emphasized that the amendment is expected to positively impact Iraq's economy. |
That`s a gentle threat. Well done Caggins. |
https://x.com/thenewregion/status/1886370372242526496 JUST IN: "APIKUR welcomes the Iraqi Council of Representatives Budget Law amendment, and remains focused on reaching agreements to restore oil exports through the Iraq-Türkiye Pipeline," said Myles B. Caggins III, spokesman, Association of the Petroleum Industry of Kurdistan |
https://x.com/john78846295/status/1886368607694708781 @apikur_oil : We welcome the amendment to the budget law by the Iraqi parliament and will focus on reaching an agreement to re-export oil from the #Kurdistan Region through the #Iraqi pipeline to #Turkey. |
Fair bit of tree shaking going on this morning. Dropped 10p just like that. Can't play those games with us, can they? |
I was in Canary Wharf yesterday having a sunday lunch at West India Quay.
Strangely..
No Wild Boars Paw & Caramalised Red Onion Jam on Roquefort & Almond Sourdough Bread on the menu anywhere?
Apparently all pre-reservations were fully oversubscribed for the GKP wildebeest stampede this morning!
😆😆😆 |
Live 192.3/193 volume 1592,579. |
PUTUP
3 Feb '25 - 09:40 - 718274 of 718282
Check out mmt1's post 717963 |
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