• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 7 days Energy Armageddon
  • 1 day "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 3 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 3 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 3 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 1 day Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
  • 17 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 days Goldman Betting on Cryptocurrencies
  • 8 days Сryptocurrency predictions
  • 13 days Putin and Xi Bet on the Global South
Editorial Dept

Editorial Dept

More Info

Global Energy Advisory – 21st November 2014

Politics, Geopolitics and Conflict

Under fire from the Islamic State (IS), Baghdad has cut a deal with the Iraqi Kurds, ending a long-running and intensifying dispute over unilateral Kurdish oil exports. This news has not only resulted in a jump in share prices for companies operating in Iraqi Kurdistan, but will also lead to another run on investment in Iraqi Kurd oil plays. Under the agreement between Baghdad and Erbil, the Kurdistan Regional Government (KRG) will give 150,000 barrels per day of oil exports to Iraq’s federal budget, and in return Baghdad will release $500 million in budget funds for the KRG. Since January, Baghdad has been withholding the Iraqi Kurds’ share of state revenue in retaliation over the KRG’s unilateral shipments of oil to Turkey, where it is being sold on to the international market.

It’s a great deal for the Kurds—if it holds. While the 150,000 bpd represents about half of what the Iraqi Kurds are exporting to Turkey, exports are expected to rise to 500,000 barrels per day in the first quarter of next year. The bottom line here is that the KRG is now exporting enough to pay off Baghdad, pay off its producers to whom it is indebted, and still turn a nice profit. The Kurds are essentially now able to afford their independence, and at 500,000 barrels per day, they will account for 17% of all Iraqi oil exports. Their influence is also growing due to Baghdad’s need for the Kurdish Peshmerga security…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News