Millionday Roundtable 3/21/14 Post By Rudie Part 1
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[millionday] ok here we go >>> Deputy Prime Minister for Energy Hussain al-Shahristani, the decision of the government of the Kurdistan region of Iraq to start exporting Iraqi oil product from the region via the company 'Sumo'.
Shahristani said in a statement received by the Agency (news): for 'welcomed the decision region the export of oil through the national system to the Mediterranean through the Oil Marketing Company National / Sumo / according to the procedures specified in the company ',
stating:' The revenue will be deposited into the Development Fund for Iraq and will be distributed on the basis of the federal budget. ' and between: that 'this decision comes the first fruit of the ongoing negotiations between the delegations of the federal government and the provincial government,
to be followed by other steps to increase oil exports from the region in accordance with the same context, all Iraqis to enjoy the additional revenue generated from increased exports of Iraqi oil
[millionday] so what we have is an agreement - kurds have argeed to export through SUMO whoooopow
[awesomedtl] Is that related to hcl
[awesomedtl] Will that relate to currency change
[millionday] yes that is related to everything --- sumo-budget-and the hcl being put in place
[tourman] ? will this push the second reading of the budget?
[awesomedtl] What are ur thoughts about them holding off on rv till later closer to or during elections
[Fishheads] tourman its Rt just ask bro
[millionday] so that is the final agreement between gov -- and they are able to move on to all other things -- tourman yes
[millionday] i have something on that brb
[Fishheads] millionday why?
[joekid] Hi, I am new. But do you believe this article? I do not see what the Kurds have gain in this agreement. Funds in the development fund! 100'000 more barrels and through SUMO?
[millionday] Prime Minister of the Kurdistan Region Barzani, a proposal to resolve the crisis relating between the governments in Baghdad and Erbil on exports of the Kurdistan Region's oil and file the general budget. statement by the prime minister was received by the Agency (news):
that 'talks with Baghdad on export of oil and file the general budget continuously, and that these talks did not result in yet for any agreement to remember. '
statement continued, 'as a goodwill gesture the Kurdistan Regional Government proposed Government of the Territory granted the negotiations another chance of positive actions for the export of oil.'
and added that 'the contribution of Regional Government Kurdistan oil export will be increased by one hundred thousand barrels per day, effective April 1 / April 2014 and
[Fishheads] joekid Probably a backdoor deal in favor of the kurds
[wmawhite] joekid ...an agreement for the funds to be disbursed via the DFI accounts.
[millionday] will continue until reaching the negotiations to a positive outcome. ' and Barzani said in his initiative that the 'Kurdistan Regional Government did not put any preconditions,
and will seek in the coming weeks to discuss the full settlement on the mechanism of export of petroleum products to the Kurdistan Region, management and control of the oil sales revenue.
' increased 'Stanaft the Kurdistan Regional Government in all cases, all their rights under the permanent Iraqi constitution
[millionday] so this is the thing -- this is an agreement on what to do with the money --- nice - after this --- all will be constant on a roll of agreement
[millionday] here we go >> The United States welcomes the decision by the Kurdistan Regional Government (KRG) to begin oil exports of 100,000 barrels-per-day on April 1 through the Iraqi-Turkey pipeline pursuant to existing export arrangements with the Government of Iraq (GOI).
A statement by the US Embassy received by AIN cited "We further welcome the commitment from the KRG to ensure that these exports continue in parallel to ongoing talks towards a framework agreement on the management of the hydrocarbon sector."
[millionday] "The United States urges the joint GOI-KRG committee, comprising experts from the GOI’s Ministry of Oil and the KRG’s Ministry of Natural Resources, to meet and assess future month-to-month export targets based on technical capacities and in a manner consistent with the Iraqi Constitution," the statement added.
"Regarding the ongoing discussions towards a general framework agreement, the United States notes the progress that has been made in recent months including general principles that would allow for all Iraqis to benefit fairly and equitably from anticipated increases in oil production and export.
[tourman] millionday progress is positive
[allinxpress] One article says they have an agreement...the next says they don't. Typical lol
[Fishheads] 100,000 bpd = 270 million in real cash
[jtank] From 250000 to 350000 bpd
[Fishheads] a month
[jtank] Can the refinery do that--
[millionday] it wont copy but the long term is the strategic agreement
[awesomedtl] What are ur thoughts on them holding off on rv till closer to Election Day or after now ....being that there is a lot of chatter of keeping monies away from malaki !? Till he is out!?
[millionday] so as we see it is not just one source
[allinxpress] So next week if the kurds boycott Parliament we know there is no agreement
[millionday] my opinion is that it is dinar land chatter -- i have not seen that in the news
[wmawhite] millionday ........numerous sources indicating an agreement is in place.
[millionday] i agree -- they have it ready to go
[tourman] wmawhite whoopow
[millionday] meaning the budget etc
[awesomedtl] Ty wma and md
[jtank] YAHOOO- bout time!!
[radronin] Wow! Spinds good wmawhite & MD!!
[millionday] brb with more
[allinxpress] And when are they suppose to vote on it?
[millionday] i agree
[smiller67] Millionday You and Fishheads made my day. As well as BGGs and poppy's call from last night. Thank you so much! ��
[wmawhite] Couldn't finalize the budget if they were not sure of the revenue.......i.e.,.......oil revenue from the Kurds.............now they have an agreement on the oil......now finalize the budget and vote/.
[radronin] Wmawhite- good analysis! Thanks!!
[allinxpress] Anyone know when they are suppose to vote on the budget??
[joekid] Red lily says 4 days after second reading. Allinxpress
[allinxpress] There were reports the second reading was done Wednesday
[wheresmyrv?] wmawhite I enjoy your thoughts on all of this very much, thank you for breakdown on everything and being on BGG's calls.
[awesomedtl] Allin. Hmmmmm!??? Would love to see that
[joekid] Allinxpress, if no agreement until today I don't see that as credible
[MGM] Allinxpress Rumor is Sunday.
[awesomedtl] Hope sunday
[beblessed] allinxpress I read the same thing
[swan2013] bbib..someone find that RV and bring it home thanks lol
[awesomedtl] But if u both read it at same spot!???? Lol
[slh5282] joekid, they had this agreement day yesterday
[wmawhite] joekid ...........there has already been one reading of the budget.........Najafi is holding off waiting on the blocs to come together.
[letsroll] wmawhite . so the budget is just more progress for iraq and to allow provinces to spend right and maybe not to increase the iqd's value ? seems many are thinking the finished budget gets them off this ride ...
[Fishheads] wmawhite whats your opinion on the possibility of change at the CBI?
[awesomedtl] Let's hope million found info on reading for Sunday budget
[wheresmyrv?] wmawhite Do you think once they read the 2nd reading on Tuesday, do you think the vote will follow soon after?
[awesomedtl] It's just seems that it won't happen till after budget sometime
[millionday] wheresmyrv? yes it will
[h-spot] letsroll that has been my concern lately...everyone is thinking so hard on the budget, and do we know if it means anything for us?
[millionday] i am searching for news for us brb
[wmawhite] Fishheads ........turki is leaving on his own going to the World Bank.........has wanted to for some time...............the Secretarate General of the CoM will become the Governor of the CBI.........IMO.
[h-spot] we have heard different opinions on that
[hstrymknwmn] Millionday is the 2nd reading Tuesday? Any ink on it from you?
[wmawhite] letsroll .......I agree with you.
[millionday] h-spot i dont believe it does except i believe that the passing of it with the contracts and everything the first of april show us that we are close to all being done at the same time --
[letsroll] fist bump
[Fishheads] wmawhite thank you. We have known he wanted out of those multiple hats he was wearing
[awesomedtl] History would be nice if they suprise us. And do it early
[h-spot] millionday hope so
[wmawhite] Fishheads ...........lol
[millionday] hstrymknwmn it was planned for the 16th then the 18th brb
[Fishheads] millionday Any news on the WTO ?
[hstrymknwmn] Did it happen?
[wmawhite] wheresmyrv? .....i expect it next week...............later in the week.
[wheresmyrv?] wmawhite thank you
[wheresmyrv?] Im feeling next week also.
[smiller67] I hope to put in my 2 week notice then.
[slh5282] wmawhite, i hope like the deckance you are right
[awesomedtl] I was feeling last month and nothing lol
[wheresmyrv?] smiller67 That would be great! Same here!
wmawhite] slh5282 .........remember,............the budget in itself doesn't bring a change in the IQD........that will come from the CBI.
Comments may be made at the end of Part 2 Thank You