DINAR EXCHANGE: 🚨 Kurdistan oil exports are BACK!, 17 MARCH

 DINAR EXCHANGE

Kurdistan oil exports are BACK! Iraq’s parliament just cleared the way, with SOMO managing sales.

Producers like #GKP could see HUGE gains in cash flow! This could be the investment opportunity of 2025! Don’t miss out! #OilStocks #Investing #EnergyBoom #iraqidinar Iraq’s parliament has approved a budget amendment facilitating the resumption of oil exports from the Kurdistan region. This legislative change mandates that the Kurdistan Regional Government (KRG) transfer its oil output to the State Oil Marketing Organization (SOMO), Iraq’s state-run oil firm, effectively ending a nearly two-year halt in exports. The budget amendment sets the transport and production cost rate for oil in Kurdistan at $16 per barrel. However, Turkey has not yet received formal confirmation from Iraq regarding the resumption of oil flows through the Iraq-Turkey pipeline. For companies like Gulf Keystone Petroleum (GKP), which operate in the Kurdistan region, this development is significant. GKP’s shares recently crossed above their 200-day moving average, indicating positive market sentiment. Analysts have set a “speculative buy” rating for GKP, with a price target of GBX 190. In summary, the Iraqi parliament’s approval of the budget amendment is a crucial step toward resuming Kurdistan’s oil exports under SOMO’s management. This development is expected to enhance the financial prospects of producers like GKP, potentially increasing their free cash flow. However, the actual impact will depend on the successful implementation of the export arrangements and the resolution of logistical challenges, including the finalization of agreements with Turkey for pipeline use.