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Baghdad-Erbil oil dispute will get solved, says Hayward


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So it seems quite the timing of Rothschild, through is subordinate Hayward, to chime in now that the delegation from the United States has paid their visit to Al-Maliki and let him know that he has been caught and, if he wants to keep his head, he will play ball NOW. looks like my friend Adam Montana is right on the money, the hcl is about to get to passed.

[kcw] simon8957 - An article titled "Parliament yielded to the demands of the Kurds and the Commission on article 140" I felt this was a great article your thoughts on this article and does this mean the HCL is one step closer???

[
Adam Montana] simon, GREAT observation - that and a few other articles have been signaling to us that the HCL is nearing completion and has been nearing completion for some time now.

[Adam Montana] In a word - "YES".

[Adam Montana] In a word - "YES".

Read more:

and as we know, Rothschild doesn't do much predicting or speculating.

i believe we are about to find out really soon how much our investment is worth my friends.

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Baghdad-Erbil oil dispute will get solved, says Hayward

08/09/2012 14:43

ERBIL, September 8 (AKnews) – The Kurdistan Region's oil plan is to produce one million barrels of oil per day over the next couple of years and this size of production will end the political dispute between Iraq and the region, said Genel chief executive Tony Hayward.

Hayward said: "The scale of the opportunity for Kurdistan and for Iraq is so large that there will be a resolution.

"We’d like to be exporting and believe strongly that over the next year or so, if not well before, that resolution will be arrived at."

Kurdish oil field Taq Taq is producing 105,000 barrels of oil per day (bpd). Tawke is running at 70,000 bpd, but should be up to 100,000 bpd by the end of the year, said Hayward.

Erbil and Ankara agreed to build an export pipeline, which could be operational next year, to transport one million barrels of oil per day to Turkey. The Kurdistan Regional Government (KRG) started trucking exports of crude oil to Turkey at the beginning of July despite a long-running dispute between Baghdad and Erbil.

Earlier the KRG set the end of August as a deadline for making payment, said a KRG statement.

The region restarted oil exports temporarily for a month during August after halting exports in April over a payment dispute. Then later the KRG decided to extend its oil exports to September 15 to give more time for discussion with Baghdad, said the region’s minister of natural resources.

Ashti Hawrami said: "We are in ongoing discussion with the Iraqi government about paying the foreign companies’ money so the region can continue exporting oil and increase the volume of exports.”

Baghdad has not paid Genel and a number of small companies yet for the majority of oil exported in 2009 and 2011, reported Reuters.

The region wants to end the payment dispute with Baghdad. According to the KRG, Baghdad has to pay $1.5bn to companies making investments in the region.

During the last few months, ExxonMobil, Chevron and Total signed contracts with the region to invest in the oil sector and neglected Baghdad's threats and warnings, reported the Financial Times.

Exxon Mobil signed six oil contracts last year with Kurdistan. The contracts led to strong opposition from Baghdad, which says Kurdistan is not authorized to sign contracts for its oil. The Iraqi government later threatened to blacklist oil giants if they continue their contracts with the KRG.

By Hemn Hadi

DM/AKnews

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Dipping in the conspiracy end of the pool, are ya, Trin? ;)

Good catch. These are the guys who run this world, and they ain't giving it up any time soon. Certainly not before they make their big score on Iraq.

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By the way, does the name Tony Hayward ring a bell to anyone? It should. He was the CEO of BP during the GoM oil spill disaster.

Yes, Mr.Hayward was the individual that stated while Americans were loosing their businesses and jobs, the Gulf was dying, while dealing with this huge tragedy, Mr. Hayward stated "I want my life back". But the good news is that in the second week of the spill, while the oil was belching millions of gallons of oil into the sea, he managed to get a weekend yacht race in with his son. You didn't want Little Tony to be disappoointed, did you?

This is reminiscent of the stories of the Wall Street Wives shopping during the 2008-2009 debacle. They had to hide their shoppiing bags until they got into their limos.

Ahhh, memories.

Thanks for the post Trinity and great to see you as always. :)

I ditto that for a Sunday morning!

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Yes, Mr.Hayward was the individual that stated while Americans were loosing their businesses and jobs, the Gulf was dying, while dealing with this huge tragedy, Mr. Hayward stated "I want my life back".

one of the main proponents of the actions of the rich stem from the philosophies of this man, Milton Friedman. if anyone really want to get into the philosophy and mindset of the supra rich, they really need to study this man. this is why hayward feels like he can do what he did and then go on a yacht race while countless lives of the poor and middle class has been decimated. it is so sad but it is the way it is.

thanks for sharing Carrello

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one of the main proponents of the actions of the rich stem from the philosophies of this man, Milton Friedman. if anyone really want to get into the philosophy and mindset of the supra rich, they really need to study this man. this is why hayward feels like he can do what he did and then go on a yacht race while countless lives of the poor and middle class has been decimated. it is so sad but it is the way it is.

thanks for sharing Carrello

Ahhh, Uncle Miltie. My Economics instructors touted his goodness, intellect, and great esteem throughout undergrad and graduate school. I got good grades but felt like I needed a shower afterwards. B)

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Ahhh, Uncle Miltie. My Economics instructors touted his goodness, intellect, and great esteem throughout undergrad and graduate school. I got good grades but felt like I needed a shower afterwards. B)

laugh.giflaugh.giflaugh.gif

the adopted philosophy of this guy by the supra rich goes against everything the Bible teaches. i read the Word of God and feel good or feel like i need to get right with God. i listen to this guy and get mad. he uses the term "the masses" so frequently and all the time i know that he is referring to me, my children and my children's children. the notion that the wealthy must remain wealthy and retain all of the wealth in order for society to flourish is sickening. that one percent of the population should hold 90% of the assets is utter garbage. but he wraps it up in such secular wisdom that if one is not careful they will find themselves agreeing to what he is saying while at the same time struggling to keep their heads above water economically and by design.

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one of the main proponents of the actions of the rich stem from the philosophies of this man, Milton Friedman. if anyone really want to get into the philosophy and mindset of the supra rich, they really need to study this man. this is why hayward feels like he can do what he did and then go on a yacht race while countless lives of the poor and middle class has been decimated. it is so sad but it is the way it is.

thanks for sharing Carrello

GM Trinity,

Thanks for the video.

I'm having a bit of trouble here getting your point here.

By looking at just this video and knowing nothing else about this man I have to say I agree with him.Are we all not looking to bring wealth to ourselves with the dinar? Are we all hoping, wishing and some praying for a high rate and return. Is this not Greed? I know Many of us here will give back and help others if this happens but shouldn't we be doing this already?I am a business owner and entrepreneur for several reasons. My original reason was for personal freedoms, pick my hours, days off etc.. Second reason was personal freedoms through wealth.Turns out to get to my second reason I had to give up the first reason. 14 hour day normal, Vacations were not possible, I put everything I owned into this business. I put my house on the line for a new invention I have pending and marketing. But I still make time for my community involvement while many are sitting back watch sports on their television with a cold one in front of them.If my family and I are taking all the risk and putting it all on the table, working our butts off should we not reap the rewards?? I am not talking about things given to me but earned.I know these big boys play by different rules but what is a persons fair share? Now while some are sitting back with that cold one Im working again today and then helping a elderly member of our lodge who can not afford to make repairs on their home. If some day I make a million dollars a year I should be taxed at a higher rate? Why? Am I using the same amount of services I did before ? Am I not creating new tax revenues that no one ever considers?I guess I am a greedy person but my success creates jobs. Other people are working because of my so called greed.

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GM Trinity,

Thanks for the video.

I'm having a bit of trouble here getting your point here.

By looking at just this video and knowing nothing else about this man I have to say I agree with him.

he speaks as if all things are equal. however, the truth is that all things are not equal. see, when a person like you becomes wealthy, it will not come with detriment to others. this is not the case with the rich establishment. your viewpoint comes from one of sincerity and good will. this is not the case with these people. i will not go into detail because it will spin into an entirely different thread. i will say this, my wife has worked in the school systems for years. when you see for yourself the levels of disparity between the education of OUR children, you begin to see that this is planned from the time we come out of the cradle. in order for wealth to remain with a certain percentage, there must remain an uneducated sheep-fold from which the wealthy are sustained.

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he speaks as if all things are equal. however, the truth is that all things are not equal. see, when a person like you becomes wealthy, it will not come with detriment to others. this is not the case with the rich establishment. your viewpoint comes from one of sincerity and good will. this is not the case with these people. i will not go into detail because it will spin into an entirely different thread. i will say this, my wife has worked in the school systems for years. when you see for yourself the levels of disparity between the education of OUR children, you begin to see that this is planned from the time we come out of the cradle. in order for wealth to remain with a certain percentage, there must remain an uneducated sheep-fold from which the wealthy are sustained.

You are a very wise and "aware" of the "principalities" we are dealing with in this world.

Keep fighting the good fight and pressing onward toward the goal. When we mix secular beliefs with what Christ teaches, it is then that we lose site of the goal.

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he speaks as if all things are equal. however, the truth is that all things are not equal. see, when a person like you becomes wealthy, it will not come with detriment to others. this is not the case with the rich establishment. your viewpoint comes from one of sincerity and good will. this is not the case with these people. i will not go into detail because it will spin into an entirely different thread. i will say this, my wife has worked in the school systems for years. when you see for yourself the levels of disparity between the education of OUR children, you begin to see that this is planned from the time we come out of the cradle. in order for wealth to remain with a certain percentage, there must remain an uneducated sheep-fold from which the wealthy are sustained.

I here you Trinity but don't the parents have to take some of the responsibility in teaching their children? I am being sincere here, Your wife must have seen that the parents that engaged in their childrens education had children with higher rates of success. We all have that ability to go the extra step. Don't get me wrong I'm not backing up the robber barons, If the people want change it should come through policy change but not by

discouraging capitolism.

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I here you Trinity but don't the parents have to take some of the responsibility in teaching their children? I am being sincere here, Your wife must have seen that the parents that engaged in their childrens education had children with higher rates of success. We all have that ability to go the extra step. Don't get me wrong I'm not backing up the robber barons, If the people want change it should come through policy change but not by

discouraging capitolism.

let's keep the discussion focused at policy and economics instead of bringing in the case of responsibility.

the voucher system was destroyed under the "non-voucher education systems". so what you just described becomes extremely economically difficult through existing policies. people who pay for private schooling of their kids ARE STILL TAXED for public schools forcing them to fund both public and private schools systems. how many can afford this? this is why many christian schools with excellent programs have to terminate their program. the system strains them. choice is therefore controlled through economic policy. who lobbies for these policies? who drives these policies? these are questions we have to begin asking instead of pointing all blame on parents for not fully educating their children. after a single parent mother gets home from working 2 jobs to put food on the table, does she have the energy to teach her 3 children thoroughly the grade level education that they need.....i think not. she needs a school system to help her with this however her choices of where to send her children to give them the BEST chance of survival has been controlled.

just my 2 cents

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Here is a related article

Genel's Tony Hayward says Iraq's Kurdistan oil row too big to last 8.9.2012

ERBIL-Hewlêr, Kurdistan region 'Iraq',— Iraq and its Kurdistan region both have too much at stake not to settle their dispute over oil, although they may take a year or so to do it, the head of the largest producer there said.

"The scale of the opportunity for Kurdistan and for Iraq is so large that there will be a resolution," Genel Chief Executive Tony Hayward, former boss of BP, said in an interview.

"Over the next year or two, Kurdistan production capacity will grow towards 1 million barrels a day - that's too much oil to be shut in as a consequence of a political dispute. So one way or another, it's going to get resolved."

Kurdistan's oil can be shipped to world markets through a Baghdad-controlled pipeline from Kirkuk to the Turkish port of Ceyhan.

The Kurdistan Regional Government (KRG) halted exports in April in a dispute over payments from Baghdad to companies working in the region. It restarted them, but warned it would cut shipments by mid-September if there were no progress on payments.

"We'd like to be exporting and believe strongly that over the next year or so, if not well before, that resolution will be arrived at," Hayward said in the telephone interview.

London-listed oil explorer Genel, the first to arrive in the mountainous region, has complained that it has not been paid for the majority of oil exported in 2009 and 2011. Other operators have voiced similar grievances.

But Hayward said if exports were to stop, production from the Taq Taq and Tawke oilfields - where it is involved - would be sold into the domestic market.

That local business - which fetches about $60 a barrel, well below that on world markets - would be enough to keep both projects in the money. "Very much so," he said.

Taq Taq is now pumping 105,000 bpd. Tawke is running at 70,000 bpd, but should be up to 100,000 bpd by the end of the year.

Baghdad says it has the sole power to export oil. But Kurdistan has signed exploration oil deals with foreign companies, contracts Baghdad says are illegal.

Taq Taq and Tawke are the backbone of KRG exports, between them contributing roughly 80,000 barrels per day of an overall 120,000 bpd. Khurmala,www.ekurd.net the northernmost part of the giant Kirkuk oilfield, makes up the remainder.

A new pipeline linking Taq Taq to Khurmala - the entry point to the Iraq-Turkey pipeline - is expected to be up and running by October, easing delivery of the oil to world markets. Crude from the field is now transported by tanker trucks.

"If there's an agreement between Baghdad and Erbil to continue exports, then Taq Taq will be tied directly to the export infrastructure," said Hayward.

In the meantime, KRG energy minister Ashti Hawrami - aiming to reduce the region's energy reliance on Baghdad - is carrying out plans to export oil and gas directly to Turkey, just to the north.

GAS PROSPECTS

Apart from its oil plays, Anglo-Turkish Genel - its longer term sights on Turkey's gas market - is also building up its position in Kurdish gas. It splashed out $450 million last month on a stake in the Miran gas discovery and also acquired a piece of the Bina Bawi gas discovery.

"The Kurdistan Regional Government has made it very clear that they would like to see gas in Kurdistan exported to Turkey, so building a gas business in Kurdistan focused on both the domestic market in Kurdistan but also the Turkish export market makes a great deal of sense," said Hayward.

Genel spent more than $700 million last month to bolster its position in Kurdistan. Hayward said the company could take on more, but acknowledged that options were now limited.

"If we see opportunities where we can create a lot of value, then we'll continue to add," he said. "But there's been a lot of consolidation in the course of the last nine months and the opportunity set is undoubtedly diminishing."

The Genel chief has also been trying to diversify the firm's sources of oil, recently taking acreage in Morocco and Malta. It has earmarked around $1 billion to buy further assets.

"We've said we'll focus on the Middle East and Africa and that's what we're doing," said Hayward. Genel was formed last year when Hayward and financier Nathaniel Rothschild's bid vehicle bought Turkey's Genel Enerji.

In Kurdistan, Hayward expects to see further consolidation. Oil majors Chevron (CVX.N), Total (TOTF.PA) and Gazprom (GAZP.MM) have joined Exxon (XOM.N) with their own deals in there, provoking warnings from Baghdad that those with oil deals with the federal government might be at risk.

"The supermajors have moved in - we haven't got much room for many more, frankly," he said.

"We'll see further consolidation and the emergence of half a dozen serious operators - of which Genel will be one."

http://www.ekurd.net/mismas/articles/misc2012/9/invest870.htm

“Every man's happiness is his own responsibility.”

― Abraham Lincoln

Evened you out Trinity, - Negs are up early

Edited by SocalDinar
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