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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (184452)	6/17/2014 9:14:45 AM
From: Dennis Roth	1 Recommendation Recommended By evestor Respond to of 206151

Iraq and the KRI De-constructing headlines 17 June 2014, 7 pages, 10 figures sendspace.com Implication to Iraqi production: Iraq's giant fields are in the south, and heavily defended by better organised (mostly Shia) Iraqi army. That said, the investment climate in Iraq had already been deteriorating with the current crisis likely adding to government paralysis that could further impact the development of southern fields. According to Iraq Oil Report, BP and XOM have already started to withdraw some staff from the south. Prospects for the northern route (via the ITP pipeline) to re-open look more elusive, except for the route via the KRI (a stable region) if differences can be settled. The crisis may be providing an impetus towards a resolution between Baghdad and the KRG – Baghdad's revenue needs plus Peshmerga's support to defeat the rebels in Mosul, just like in 2005. The Oil Minister already stated that 'there is a better chance of an agreement between the central government and the KRG to solve their oil dispute due to the situation in Mosul'. There is potential for ~400kbd of exports from the KRI by early 2015, in our view. It is clearly important for the KRI to remain insulated from violence and instability; a region that has remained a very stable region even during the US invasion of Iraq and the subsequent turmoil.