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DNO 27.08.2020 kl 15:18 1941

ERBIL, Kurdistan Region – Iraq continued to cut its oil exports in July, in compliance with an OPEC+ agreement, but brought in more revenues thanks to higher prices.

In July, Iraq exported an average of 2.763 million barrels per day (bpd), bringing in $3.487 billion in revenue, the Oil Ministry announced Saturday. The average price per barrel was $40.708.

“Despite the reduction in production and export in compliance with the OPEC+ agreement, financial revenues increased compared to previous months,” said ministry spokesperson Assem Jihad.

July exports included an average of 8,000 bpd to Jordan, resuming the trade as prices rebounded. Oil prices of less than $20 per barrel made it too costly for more than 200 oil tankers transporting crude from Kirkuk to Jordan.

Oil producers of OPEC and allies have been cutting production since May by 10 percent of global supply after the COVID-19 virus slashed demand. OPEC+ agreed to ease the measure from August as the global economy shows signs of recovery.

Iraq was slow to comply with the production cuts. Oil Minister Ihsan Abdul Jabbar Ismail said it would be in full compliance by August and would compensate for overproduction in May and June.

In June, Iraq exported 2.816 million bpd, bringing in $2.861 billion. In May, Iraq exported 3.212 million bpd with revenues of $2.91 billion. In April, Iraq exported 3.438 million bpd, but with a price of $13.801 per barrel, revenues were just $1.423 billion.
27.08.2020 kl 15:28 1914


Aug 21, 2020

The Trump administration is backing Iraqi Prime MInister Mustafa al-Kadhimi's efforts to urgently conclude a budget deal with Iraq's Kurdistan Regional Government (KRG).

"I urged Baghdad to clinch a budget deal with the Kurdistan Regional Government," said Secretary of State Mike Pompeo, speaking at a press conference Aug. 20 following a meeting in Washington with his Iraqi counterpart Fuad Hussein.

Iraq's Ministry of Finance announced Aug. 17 that Baghdad and Erbil had reached an agreement on some of the long-standing disputes between Baghdad and Erbil over the latter's share of the federal budget.

According to the terms so far, Baghdad will pay 320 billion dinars ($268 million) to Erbil monthly as a goodwill gesture, and Erbil in return promises to continue the ongoing negotiations with Baghdad over oil exports from the Kurdistan regional territory and to hand over control of the border crossings to Baghdad.

Kurdistan exports 450,000 barrels of oil through Turkey’s Ceyhan pipeline every day. According to previous agreements, 250,000 barrels should go to Baghdad and the rest should go to the KRG budget. However, the Kurdistan Region has not been paying Baghdad its share until now.

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Out of Iraq's 22 land border crossings, five are located in the Kurdistan Region and are therefore not under the control of the federal government. They include Haji Omeran, Parviz Khan, Ibrahim Khalil, Faysh Khabur and Bashmaq, as well as the main airports in Erbil and Sulaimaniyah. There are also some other unofficial border crossings from the Kurdistan Region into Iran and Turkey.

Kadhimi has approached this matter with a sense of urgency, seeing it as essential to both his political and economic agenda. The Kurdistan Region is also under pressure to compromise, as it has been experiencing protests by workers who have not been receiving their full salaries.

Kadhimi has sought to assert government control and oversights on border crossings. Many of the latter have been associated with corruption and lost revenues due to the interference of militias and political parties in crossing administration and funding.

The campaign has so far been a success. Iraq's revenues from the outlets has almost doubled after Kadhimi began his campaign, increasing from 36 billion dinars ($30 million) to 62 billion dinars ($52 million).

Iraqi politicians in the south and central parts of the country, however, would like to see the same control extended to the Kurdistan Region.

Despite Kadhimi's success so far with the budget deal, he is being criticized by those who oppose his governance and reform agenda. Parliamentarian Kate' al-Rikabi from Nouri al-Maliki’s State of Law Coalition criticized the prime minister Aug. 12 for his inaction on the Kurdistan outlets — an odd charge since Maliki's moves are actually action — and by complaining it was a concession to the Kurdish parties in return for their support of his government. Other lawmakers asked whether Baghdad can afford any "concessions" to the Kurdistan Region, given the country's overall dire economic situation, and without approval from the Council of Representatives (parliament).

In June, Baghdad transferred 420 billion dinars ($351 million) to the KRG, warning that it would be the last funding from Baghdad before a comprehensive solution to the disputed issues.

The Finance Ministry announced Aug. 17 that it will finalize the federal budget for the remainder of 2020 before October, saying the budget will provide a comprehensive solution to the Kurdistan financial issues including its commitments to Baghdad and its share of the federal budget.

This year, Iraq has been operating without an official budget due to the political crisis and government's transmission.

The Iraqi government is seeking to address the long-standing dispute with the KRG during a difficult political and economic time for the country, and opponents of the prime minister are finding fault with his solutions, while offering none of their own.

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27.08.2020 kl 15:29 1906

Ser ud til det er Kurderne der ikke overholder nogle aftaler, indtil videre, for mange skift i regeringen, hvor forsvinder pengene hen
Slettet bruker
27.08.2020 kl 15:55 1852

slapp av. kommer dette
Slettet bruker
27.08.2020 kl 16:00 1819

Nei, det gjør det ikke men det er lov å drømme )
27.08.2020 kl 19:44 1599

KRG har alltid tilbakebetalt, er det noen grunn til at de ikke skal gjøre det denne gangen?
27.08.2020 kl 20:01 1565

De betale de,på kurdisk(litt sånn det passe de)
27.08.2020 kl 20:05 1549

Ifølge selskapet forhandles av utestående oljebetalinger fra kurdiske myndigheter for et beløp på rundt 240 millioner dollar til DNO. Bijan sa at han venter på en løsning for oppgjøret for oljesalget de siste månedene, og understreket at timingen avhenger av oljeprisen.

Han sa at de har et betydelig beløp til gode og at de er i samtaler med myndighetene om å få dette utbetalt i sin helhet.

Tror ett kjøp på disse nivåene er ett godt kjøp!
Redigert 27.08.2020 kl 20:13 Du må logge inn for å svare
28.08.2020 kl 11:29 1163

Unaudited Interim Results for the Half-Year Ending 30 June 2020
Financial review
Revenues, operating profit and cash
Revenues in H1 2020 were GBP 69.9 million compared to GBP 91.5 million in H1 2019. The decrease in revenues was primarily driven by weak oil and gas prices
and lower cargo liftings of produced oil.
DNO North Sea reported an operating loss of GBP 53.0 million in H1 2020 compared to an operating profit of GBP 89.6 million in H1 2019. This was primarily due
to lower revenues and higher cost of goods sold and exploration costs in H1 2020, as well as an impairment charge of GBP 13.4 million. An accounting gain of
GBP 80.1 million was also recognized in H1 2019 relating to the exchange of DNO North Sea’s interest in the Njord, Hyme and Bauge assets for Equinor Energy
AS’s interests in the Alve, Marulk, Ringhorne East and Vilje assets (“Equinor asset swap”) that completed on 30 April 2019.
DNO North Sea ended the period with a cash balance of GBP 105.3 million compared to GBP 61.7 million at the end of the previous year. The increase was
primarily due to increased borrowings partially offset by capital and decommissioning expenditures.
Cost of goods sold
In H1 2020, the total cost of goods sold, including lifting costs and depreciation, depletion and amortization (“DD&A”), was GBP 78.2 million, compared to GBP
64.6 million in H1 2019.
Lifting costs in H1 2020 totaled GBP 41.5 million, compared to GBP 36.6 million in H1 2019.
DD&A costs totaled GBP 40.8 million in H1 2020, compared to GBP 18.6 million in H1 2019. The increase was due to increased production and a higher DD&A
rate per barrel on the Norwegian assets.
Movement in the net underlift position totaled GBP 18.9 million in H1 2020 compared to GBP 0.8 million in H1 2019. The increase in the net underlift position was
mainly due to lower cargo liftings of produced oil.
Exploration expenses
Expensed exploration costs totaled GBP 28.4 million in H1 2020, compared to GBP 9.6 million in H1 2019.
Slettet bruker
28.08.2020 kl 12:32 1051

Neste gang DNO stikker opp nå, stikker den for alltid. Len tilbake. De får alltid betalt, uten diskusjon. DNO har vært vinner tidligere på Oslo børs og kan bli det igjen.. Verden er avhengig av olje og gass. DNO ligger bedre tilrette enn Equinor...
Redigert 28.08.2020 kl 13:25 Du må logge inn for å svare