Totally right, if anything it's harder to keep nice light crude in the ground as more fluid and usually under higher pressure!Don't say it often but what a ding ding comment from resident ding dong |
"However, KRG leaders had previously insisted on a higher rate of $26 per barrel due to the elevated costs of oil extraction in the region, leading to the compromise figure of $16".
"Elevated costs of oil extraction in the region".
We can only wonder why the costs are elevated!!! Is that what Baghdad seek to understand?
The company brag about lifting costs of $3pb!!! $23 is a lot of difference innit!!
BP appear happy with their terms down Kirkuk way. Could that be because they're dealing direct with Baghdad and there is complete transparency with who receives what??
Only having a mull of course:-) |
So not a great deal of selling in light of today's circus. Looks like the consensus is that it will happen eventually. SP currently 165.3 |
 https://baghdadtoday.news/266367-%D9%86%D8%A7%D8%A6%D8%A8-%D9%8A%D9%83%D8%B4%D9%81-%D8%B3%D8%A8%D8%A8-%D8%AA%D8%A3%D8%AC%D9%8A%D9%84-%D8%A7%D9%84%D8%AA%D8%B5%D9%88%D9%8A%D8%AA-%D8%B9%D9%84%D9%89-%D8%AA%D8%B9%D8%AF%D9%8A%D9%84-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9.html The MP of the Al-Fath parliamentary bloc Mukhtar Mahmoud revealed on Tuesday (January 21, 2025) the reason for postponing the vote on the amendment of the budget law during today's session.Mahmoud told Baghdad Al-Youm that "the postponement of the vote on the amendment of the budget law during today's session, due to the government sending a new amendment to the amendment sent previously."He added that "the new amendment needs new discussions and dialogues within the Parliamentary Finance Committee, and this is why the vote is postponed until the new amendment is discussed in the next few days."Parliament voted on Tuesday (January 21, 2025) on the laws of personal status, the return of real estate and general amnesty with one basket, after which the session was adjourned to another notice. |
https://x.com/PeregrafNews/status/1881729964497858731 |
That's what I was alluding to in my earlier post. Nothing would surprise me. |
The Iraqi Parliament has once again postponed the approval of a crucial budget amendment related to the oil exports of the Kurdistan Region. The amendment, which has sparked heated debate, centers around the payment terms for oil production and transportation in the Kurdish-controlled areas.In a move that has further intensified the ongoing dispute, Iraqi Prime Minister Mohammed Shia' Al Sudani has proposed a new clause demanding that the Kurdistan Regional Government (KRG) hand over its natural gas and oil components to Baghdad. This proposal was sent to the Iraqi Parliament, triggering an impasse that has delayed the budget amendment yet again.Soran Omar, a Kurdish member of the Iraqi Parliament, confirmed the news to Peregraf. According to Omar, the introduction of this new clause regarding the handover of oil and gas resources has complicated the discussions, leading to the lack of approval for the amendment. He stated, "This new proposal by the Prime Minister has caused problems, and the amendment was not approved as a result."The new clause is part of the Iraqi government's efforts to secure control over the oil and gas resources in the Kurdistan Region, which has long been a source of tension between Erbil and Baghdad. While the KRG has maintained its autonomy in managing these resources, the Iraqi government insists on more centralized control as part of its national economic strategy.The parliamentary session on January 19, 2025, also saw the rejection of a proposal concerning the Kurdistan Region's oil exports. This proposal aimed to set a provisional payment rate of $16 per barrel for the region's oil production and transportation. The Finance Committee had reviewed the amendment, which would have provided financial relief to the Kurdistan Region, but it was met with strong opposition from Shiite lawmakers.Omar explained that the vote could not take place because the quorum requirement for legal attendance was not met. Shiite legislators argued that $16 per barrel was an excessive amount compared to the $8 per barrel allocated for oil production in southern Iraq. However, KRG leaders had previously insisted on a higher rate of $26 per barrel due to the elevated costs of oil extraction in the region, leading to the compromise figure of $16. |
So all the kerfuffle today so far has nothing to do with the oil amendment as the fisticuffs is to do with the other laws and associated fallout.
If our amendment had been kept as the first vote it would have passed unless what happened was done to avoid voting on it - possible but not likely. |
How much money did you make today, Sarah? |
All Erbil need to do imho is to provide all the details of the contracts to Baghdad in the name of transparency. That way an equable solution will be found and the impasse sorted. Otherwise all the arguments and accusations will continue even when agreements are agreed. But how long will they last if there is no trust or transparency??
However, there is the small matter to come of the independent (lol) committee's decisions on the individual producers production and transport costs!! More months of arguments and negotiations? Quality oil above $16 and sludge below?? |
Voting on the amendment going on now |
Trolls on here have been posting every single day since February 2012. |
Well the oil law was originally the first on the agenda. Then it was moved back to 4th or 5th place giving time for all the shenanigans to kick off on the previous bills rendering it impossible to vote on the oil agreement. As if by design ? |
hxxps://x.com/joiedevivre789/status/1879568059234689054?t=mRSlffKs5x3BsRFqnsjbjw&s=19
👰a92;🍩 |
Bigdog got the pox again. Don't miss your appointment at the clap clinic! |
Yankee Doodle Condog clearly desperate.lol. Its wakey wakey on the East Coast across the pond , and for the 30,500th ++ time Yankee Doodle Condog posts AND ONLY EVER ON THIS STOCK ( barely credible - LOL ) the paid American sentiment basher clocks in for work.If CARLSBERG did BUY signals.FILL YER BOOTSTAKEOVER RNS INCOMINGTHIS MONTH.HTTPS://x.com/ChicagoJack5/status/1787790142574325840 |
He's paid.Not surprising is itWhen the company is obviously sold TBA |
Paid sentiment basher can't stop LOLOLOLOLOLOL |
Footage shows some Shiite lawmakers voicing opposition after the Iraqi House of Representatives approved three key bills, deeming the approval unlawful and invalid, and calling on the Iraqi Parliament Speaker to resign. https://x.com/zoomnewskrd/status/1881717116535193724 |
What next I wrote
I refer you to my earlier post. The straw that the PM must grasp is to find an excuse to get the oil flowing and avoid further massive losses is :-
Now that PSCs are pronounced legal and the Prime Minister unable to get an alternative method of payment through Parliament there seem to be two possible ways of moving forward especially given the enormous cost of a closed pipeline to IRAQ itself.
1. He could mitigate the loss by opening the pipeline on PSC terms until a better alternative payment can be found. This might avoid a bigger problem of 2
2 The Kurds could follow up their last weekend rant and secede as Iraq as a whole seems ungovernable.This would be welcomed by America and Turkey
others might try waiting until September but that would raise a lot of other agreements and issues the PM has to solve the including the current problem.
such as SOMO and the rest of the budgetary/relationship framework.
September will not work if the Iraqi government hasn`t changed its stance re oil floe. The Pipeline will still be in the sovereign power of Baghdad.
The KUrds should leave citing today as their justification. |
Really strange that the company providing this bb haven't made a move on Carroll from Stockport and all her bogus monikers as regards the important message found below in relation to "or information that is false or misleading"!! |
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