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Found 10 results

  1. If you look at the oil companies that are based out of Kurdistan they are some of the most undervalued stocks in the world right now. You can buy shares in Gulf Keystone Petroleum which has one of the largest onshore oil developments in the world for only 7 cents a share. Western Zagros (WZGRF) can be bought for only 5 cents and it sits on a production field with reserves of 2 billion barrels of oil. Range Energy (RGOZF) can be bought for 2 cents, Oryx petroleum (TSE:OXC) 50 cents, DNO (DTNOF) 70 cents, and Genel Energy (GEGYY) which was once a $20 stock can be bought for a dollar. Genel Energy has fields that are producing oil for 1 dollar a barrel. The share price of these companies has been beaten down by non-payment by the KRG, the complete collapse in the price of oil and the fear of ISIS looming over investors. These oil companies are currently at the brink, bond holders are looking at payments, debt has piled up, employees are not getting paid, etc. Once the 2 billion loan is paid out to the KRG from the IMF and these companies are paid the hundreds of millions of dollars that they are owed their share price is going to skyrocket like nothing seen before possibly hundreds or thousands of percent. Once Mosul is taken we will see another moonshot in share price and of course when the oil price finally recovers which is expected by the end of this year. Returns of 1000's of percent will be noticed by Wall Street and this is going to be the catalyst before anything happens to the value of the dinar or the value of the ISX. It will begin with these oil companies share prices to gain the interest of investors first. Then you will see the ISX going international, the dinar begin to float, etc. All this information is my opinion and is not meant as a recommendation to invest, due your own diligence. In full disclosure I own all of the companies listed above and listed my sources below. The firm holds two production sharing contracts in the Kurdistan region of Iraq. It owns 2.2 billion barrels of oil equivalent of prospective resources. Clearly, it is huge Page 38."The Shaikan block is situated about 85 km north-west of Erbil covering an area of 283 km², it is one of the largest onshore developments in the world today" In the oil patch today, it is indeed the survival of the fittest. So when one of the largest producers in Iraqi Kurdistan, Genel Energy Plc, comes out swinging with production costs as low as $1 per barrel, it inspires a new confidence that may or may not be sustainable given the regional security threats and the difficulties producers are having getting paid for their oil. Still, it’s an impressive number that renders Kurdistan one of the cheapest oil venues on the planet.
  2. New Kirkuk governor will be decided soon: PUK By Rudaw 23 hours ago Khalid Shwani’s name has been floated as a possible candidate for the post of Kirkuk governor. File photo: Rudaw ERBIL, Kurdistan – A new candidate for the post of Kirkuk governor has been floated by the Patriotic Union of Kurdistan (PUK) as the province remains in political limbo and objections were raised about the PUK’s first nominee. The PUK and KDP expect to reach an agreement on the candidate soon. “The position of Kirkuk’s governor is for the Kurds and it’s the PUK’s share. Among the names discussed, Khalid Shwani is a very suitable candidate because he is from Kirkuk and is familiar with the place,” Salah Dalo, a member of Kurdistan Democratic Party’s (KDP) politburo, told Rudaw on Tuesday. Political posts in the disputed province are shared among the ethnic groups with the position of governor given to the Kurds. Khalid Shwani was previously a member of the Iraqi parliament within the PUK faction. He is currently a member of the party’s politburo. His name was floated in talks between the PUK and KDP, the two ruling parties in the Kurdistan Region. Shwani said on Tuesday he has not been broached on the subject, however. An Iraqi court ordered Kirkuk’s Kurdish governor Najmaldin Karim removed from his post ahead of the September referendum because of his support for the independence vote and backing the decision to raise the Kurdistan flag in the disputed province earlier in the 2017. Karim left the city when the Iraqi army took over in mid-October and Baghdad assigned Rakan al-Jabouri, an Arab, as interim governor. PUK had first suggested Rizgar Ali to fill the position, but the KDP has opposed his candidacy, claiming he belongs to the group that “sold” Kirkuk to Baghdad. The final decision rests with the PUK, Dalo explained. PUK’s spokesperson Saad Pira said they are not in dispute with the KDP over the position. “We will soon decide on who will become the governor,” said Pira in a statement to Rudaw on Tuesday. Prime Minister Nechirvan Barzani, also deputy head of the KDP, confirmed the two parties have discussed the matter, “but we are yet to reach a decision. There will be more meetings on the matter,” he told reporters on Monday. Kirkuk’s Provincial Council has failed to meet regularly since the disputed province came under Iraqi control in mid-October and many of the Kurdish parties fled the city. The KDP did not attend a meeting of the Kurdish parties in Kirkuk on Monday. The party has said they won’t attend a meeting in the city because it is “occupied.” The KDP has asked for the provincial council to meet at a location outside of Kirkuk. Meanwhile, Kurdish parties have said the provincial council is essentially defunct and have accused the acting Governor Jabouri of exploiting the power void. There are also concerns of a new wave of Arabization taking place.
  3. Barzani to Mattis: Referendum will go ahead if 'stronger alternative’ not offered By Rudaw 16 hours ago President Masoud Barzani receives The US Secretary of Defense James Mattis in Erbil on August 22, 2017. Photo: Rudaw ERBIL, Kurdistan Region – President Masoud Barzani told US Secretary of Defense James Mattis the referendum will go ahead unless a stronger alternative is offered, but that Erbil will continue dialogue with Baghdad with the objective of becoming “two good neighbours,” according to a statement from the Kurdistan presidency. Barzani hosted Mattis in Erbil along with a high-level American delegation from both the state and defense departments. During their meeting, Mattis reiterated US concern that the referendum might negatively affect the war against ISIS, according to the statement from the Kurdish side. While Mattis expressed his understanding of the demands and rights of the people of Kurdistan, “He also noted the concerns and the position of his country with regard to the referendum and stated that the referendum was beyond what his country expected and the United States is of the view that this process might put obstacles in the war against ISIS and might create problems for the work of both sides in the war against ISIS,” read the presidency’s Kurdish-language statement. The US Pentagon later also released a readout from meeting summarizing the Mattis-Barzani-talks that praised Erbil and Baghdad’s “strong” military cooperation for the liberation of Mosul, adding the offensive was “only possible” due to that cooperation. “To maintain this cooperation, the secretary encouraged President Barzani to engage in a sustained dialogue with Prime Minister Abadi and keep the focus on maintaining the momentum against ISIS,” Mattis said, according to Pentagon Chief Spokesperson Dana W. White. There were no direct mentions of “unity of Iraq” or the “wrong” timing of the Kurdistan Region’s planned independence referendum on September 25 — previous terms used by officials from the US State Department. Mattis thanked Barzani “for his strong leadership of Peshmerga forces and being a supportive partner in operations to defeat ISIS.” Barzani has said that the referendum is a right of the people of Kurdistan according to the principles of democracy and human rights. He told the visiting US delegation that the referendum would “in no way create problems in the war against terrorism.” Barzani said that the violations of the Iraqi constitution, lack of partnership with Baghdad and consensus pushed Kurdistan to call for the vote, adding that the right to hold the referendum was given in the preface of the constitution of Iraq. The preface of the Iraqi constitution reads: The adherence to this constitution preserves for Iraq its free union, its people, its land and its sovereignty. “President Barzani also stated that no forced union has ever worked. We chose a union of willingness conditioned to partnership, but because partnership did not work and to prevent deeper problems, we want to live as two good neighbours,” the statement said. Any request for Kurdistan to postpone the referendum, should come with an alternative “and that alternative should be stronger than the tool of referendum,” the statement said. Both Barzani and Mattis agreed that the talks with Baghdad should continue, with the latter saying they support and encourage such talks. As for the war against ISIS, Barzani thanked the US for its help provided to the Kurdistan Region since 2014 and vowed Kurdistan would continue to fight terrorism now and in the future. Secretary Mattis commended the role of the Peshmerga for their contribution in the ISIS war, adding that the US is honoured to have helped to help the Kurdish force. “The cooperation and coordination between the two sides is very important to secure victory and he expressed the willingness of his country to commit and continue [the war] against the common enemy, which is terrorism,” the statement quoted Mattis as saying. The Kurdish presidency released a different statement in English language regarding the meeting between Barzani and the US delegation. Mattis was accompanied by Ambassador Douglas Silliman, Special Envoy to the Global Coalition to Defeat ISIS Brett McGurk, and a cadre of military officers. The Kurdistan Region has planned a referendum on independence for September 25. The United States has called the timing of the referendum wrong, citing the ongoing fight against ISIS. A series of talks between Erbil and Baghdad officially began last week when a delegation from Erbil visited the Iraqi capital to discuss the referendum. Discussions are expected to continue in Erbil with the ruling Shiite National Alliance in two weeks. Baghdad has called the referendum unconstitutional and unilateral and said it will not recognize the result. The Kurdistan Region says Iraq pushed Erbil into calling for the referendum by violating at least 50 articles of the Iraqi constitution, including Article 140 that concerns disputed or Kurdistani areas claimed by both Erbil and Baghdad, and the budget-share which was cut in early 2014. The American visit is the latest in a series of efforts by high level American officials who want to convince the Kurdish leadership to postpone the referendum. US Secretary of State Rex Tillerson had a phone call with Barzani on August 10 in which he requested the vote be postponed. US commander of the Central Command General Joseph Votel made a similar request when he visited Erbil on August 18. Barzani turned them both down, saying the US has failed to provide a guarantee. Barzani has been very clear that any guarantee should be announced by the US administration in Washington, not “an ambassador,” as he put it Monday. Any alternative, he says, should be a better alternative to achieving the Kurdish right to self-determination than the current referendum. Barzani also said Monday that they will not postpone the referendum in return for political or financial concessions from Baghdad, ruling out anything the central government could offer the Kurdistan Region. But, he said, the international community could offer such a guarantee. “There is one possibility: If the United States, the European Union, the Security Council, or the United Nations come and give an official guarantee to the people of Kurdistan, it is possible to discuss that. But if tomorrow an ambassador in Baghdad – a statement from an ambassador is worth nothing, because I myself have experience with it,” Barzani said, addressing civil society organizations on Monday. “There is no alternative for the referendum now,” Barzani said, adding that the vote will go ahead as scheduled. He then said the guarantee should be a “great” one. “If there is a great international guarantee, the political leadership of Kurdistan can then possibly tell the people that this is a more guaranteed [way]. But even that may be refused.” Deputy Prime Minister Qubad Talabani and a number of senior officials welcomed the secretary at Erbil International Airport. Mattis then held a meeting with President Barzani, also attended by, among others, Talabani, acting Peshmerga minister Karim Sinjari, and Rozh Nuri Shaweys who headed the Kurdistan referendum delegation to Baghdad last week. Mattis has been visiting capitals in the Middle East, previously Baghdad this morning and Amman on Monday. He is scheduled to go to Ankara tomorrow.
  4. ISIS executes 6 Iraqi former officers by firing squad in Mosul By Abdelhak Mamoun - Jul 8, 2015 ( According to a local source in Nineveh province, the so-called Islamic state in Iraq and Syria (ISIS) executed six officers of the former Iraqi army after detaining them in the city of Mosul (405 km north of Baghdad). The source said in an interview for “ISIS has executed at noon today six former officers of the Second Division of the Iraqi army, after a year of their arrest in the city of Mosul,” indicating that, “the execution process took place in a public square by firing squad to the head and chest.” The source, who asked to remain anonymous, added: “The officers had been arrested from their homes in the city of Mosul in July of last year, and had remained in detention until today.” TAGSBAGHDADMOSULNINEVEHSYRIA
  5. More will start to come out with the ESX, just wanted the forum to be ahead of the curve. There is an isx section. Could the name of that either be changed to isx/ESX or a seperate ESX section added? I have attached the above article to start things off Thanks!
  6. Hey everyone, Happy Wednesday! I’m sure you’ve all noticed, but there’s a LOT going on in the news regarding oil, Kurdistan, Erbil… this is ALL good for progress on the HCL, which I mentioned last week (and the week before I believe!). Example: With that said, most of what I want to say will be answered in the weekly dinar questions… so here we go! Hey eburt - that's been floating around for a while now on various news channels. The opposite has also been making the rounds... I don't see any reason to worry about it any more than any other news reports. I don't think it will happen. What I was referring to was the progress on the HCL! The Kurds meeting in Baghdad to discuss oil and the recent discussions on Erbil are EXACTLY that... this is good stuff! The name below: Obviously the HCL isn't resolved yet, but we're seeing a major flurry of news on it. I'm pretty excited about it right now. And "1166 to 1165"... , yes I guess that is *technically* a move in the right direction, but I don't believe that will be the case! I can't give an exact date on Parliament, and even if I did they could change it. They are indeed making progress towards resolving the oil laws and I don't think the WTO is a requirement, either legally or fundamentally. Note: they don't have to be in full agreement on the oil situation in order to RV. They can RV and still continue to argue, just like they did before the value dropped. Anyone who thinks they have to all hold hands and sing a happy song together before they will raise the value is simply wrong. First, the HCL: Look for oil news in the News Forum here at dinarvets. Second, WTO: If they raise the value of their dinar, who here thinks they won't be ushered into the WTO shortly after? WTO doesn't have to come first! Make sense? Like I said above, they will always dig their heels and bicker, even after the RV. That's just their culture. Richard Sherman, the guy who singlehandedly made every undecided fan an instant Broncos supporter? That guy obviously has no class, and he showed it right there. I feel bad for his teammates. (Except for the fact that he is actually really good ) That's a great question, and believe it or not... it's been asked and answered a bunch of times in the past. I'll give you my opinion. First, these "trillion dollar contracts" aren't paid out in lump sums - they are paid in installments, just like any other contract. So when the value of the dinar spikes drastically, the future value of the unpaid work is like the future value of a loaf of bread. A loaf of bread that's worth 2000 dinar today is not going to be worth 2000 dinar after the RV. Second, the contracts that are paid in trillions of dinars aren't kept in dinars under some contractors bed.... they are converted to another currency. Therefore the "trillions" of dinars have already been converted to millions of (USD or some other currency), which really makes this question a fun brain teaser... but not much of an argument against an RV. And as I'm sure you all know about me... I don't waste my time arguing about it anyway. We will all see how it pans out one way or another, and hopefully pretty soon!
  7. TAQA holds 39,9%, Shamaran 20,1% and Marathon 15%, KRG has 25% of the field. Abu Dhabi's TAQA to invest $1.2bn in Kurdistan oil field By Reuters Monday, 20 January 2014 7:25 PM Abu Dhabi National Energy Company (Taqa) plans to invest about $1.2 billion developing the Atrush oil and gas block in the autonomous Kurdistan region, the head of Taqa's Iraq operations said on Monday. Taqa, which is majority owned by the government of Abu Dhabi, won approval from the Kurdistan Regional Government (KRG) to develop the block in late 2013. It expects to invest more than $300 million in the first phase of the project, with first oil from the 30,000 barrel per day (bpd) first phase expected in early 2015. Subject to KRG approval and further field appraisals, a second phase could add 30,000 bpd of oil production, along with some associated gas for the domestic market. "Iraq is very much core to Taqa," Leo Koot told Reuters in an interview on the sidelines of a conference in Abu Dhabi. "The investment in the next three phases will be similar to the first phase and production should be around 100,000 to 120,000 bpd of oil in four years," he said. Deals between foreign investors and the KRG to develop oilfields have angered the federal government in Baghdad, which rejects them as illegal. Abu Dhabi's former state utility is expanding a power plant in Kurdistan, which should be completed in mid-2015, but it also hopes to build gas-fired power plants in southern Iraq to help Baghdad to overcome power shortages. "We've had good discussions with the Iraqi government," Koot said, declining to go into details about the plant talks.
  8. The Iraqi Oil Ministry reveal send a request to the Ministry of Finance to determine the size reduction of the share of Iraq's Kurdistan - JANUARY 18, 2014 BAGHDAD - Eastern January 18 revealed the Iraqi Oil Ministry to send a formal request to the Ministry of Finance to determine the size of the cut, which should happen in the share of Kurdistan of Iraq and increase of seventeen percent of the federal budget, in the event of the failure of the region to achieve the target level set by the government in Baghdad for oil exports This year, through the Iraqi Oil Marketing Organization SOMO, amounting to four hundred thousand barrels per day, Reuters quoted Oil Minister Abdul Karim and coffee also quoted as saying that he is not in the interest of Turkey to jeopardize the bilateral trade with the Iraqi government, valued at twelve billion dollars a year. Kurdistan: We will not accept to be running, however, the center of oil and warns of a bargain on the budget BAGHDAD - Iraq Press -18 January / January: MP for the Kurdistan Alliance Muhsin al-Sadoun said the provincial government would not accept again to be management of oil, however, the central government, especially that the Constitution allows the province to export oil, at the time warned of attempts to bargain by some manipulation in the proportion of the provincial budget. Sadoun said L / Iraq Press / on Saturday, "we do not want to be the reason for the delay in approving the budget is supposed to pass the budget without any problems," noting that "we in the Kurdistan Alliance will not accept Bmsawat on the maturity of the province of the 17 percent the fact that the federal government has not conducted a census the general population and this is what was agreed upon. " He said Saadoun "We reject that there will be accountability deductions on the proportion of the region on the subject of constitutional is the issue of the export of oil being is unacceptable," adding that "we will strive with the political blocs that we move on this budget and that there is a lineage that we vote for them in previous years ". "The file of oil must be resolved between the federal government and the provincial government in accordance with the Constitution," noting that "we will not accept to be again Initiative oil and gas is the central administration in Iraq and Article 112 of the Constitution says the right of the region to export oil according to the understandings between the central and provincial government ". Q ended
  9. Credit Suisse (a leading global financial services company headquartered in Zurich.) has upgraded Genel Energy as a result of what it described as "irreversible progress" towards achieving large scale oil exports via Turkey. Believing that the Iraqi Kurdistan oil play is now lower risk, analyst Thomas Adolff says that progress has been very impressive since 2011 and "we treat recent events - the signing of the energy agreement with Turkey last week - as irreversible progress ... We believe Genel could be the bright-spot again in the UK E&P space in 2014."
  10. Greetings Friends, Wow, the good news of the Iraqi parliment actually just is becoming regular now! I enjoy reading the Iraq-Business News on a regular basis besides the Positives that Adam keeps bringing us. Today, Dec. 5, 2013 I was happy to read the following: Reuters reports that Baghdad and Erbil appear to have found a formula that will allow Iraqi Kurdistan to export oil to Turkey through a new pipeline. Following a meeting in Baghdad on Sunday with Iraq's Deputy Prime Minister for Energy, Hussain al-Shahristani, Turkey's Energy Minister, Taner Yildiz, said on Tuesday that an agreement over oil exports and revenue sharing could be reached this month. The wise Kurds will be placing all Profits in a Turkish National Bank; forcing Iraq to finish the agreement of around 17% for the Kurds and no longer screwing around and trying to continue bringing their share of the profit down! This is just one of the last bricks needing to be placed for the RVVV. Sincerely, BradyBear
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