DNO & other Kurdish oil producers such as Gulf Keystone have been instructed by the Kurdistan Regional Gov to temporarily cease deliveries of oil to the Iraq-Turkey BOTAS pipeline for export.
1/3 Green pipe below
1/3 Green pipe below
It follows an arbitration ruling in favor of Iraq against Turkey-state owned pipeline operator BOTAS for transporting Kurdish oil without prior approval from Baghdad. Not sure what it means. Likely some future fee sharing after months of negotiation? Any view @AzizSapphire?
2/2
2/2
How much oil is affected?
The export terminal Ceyhan in Turkey exports about 400kbpd of Kurdish Blent Test (KBT) as well as some 70kbpd Iraqi oil.
Source: Kpler @kingofcrude @AndurandPierre @OilSheppard
The export terminal Ceyhan in Turkey exports about 400kbpd of Kurdish Blent Test (KBT) as well as some 70kbpd Iraqi oil.
Source: Kpler @kingofcrude @AndurandPierre @OilSheppard
The independent oil companies in Kurdistan ($DNO; $GENL; $GKP; $SNM) are down 16% today. GKP, my favorite, now trades at 1.8x EV/Free Cash Flow. $190m cash; zero debt; talking cheap amigos: here a perspective of cheap co in combo with a worldclass reservoir. Will it get cheaper?
Loading suggestions...