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Baghdad Opens the Taps
By Reset Intelligence | @EXIT_FIAT
Iran put a hole in a ship in the Strait of Hormuz this week.
Baghdad spent the same week opening every other way to sell its oil.
The strait, and the roads around it
On June 25 a cargo ship took a projectile to the bridge off the coast of Oman, hours after Iran’s Revolutionary Guard went on the radio warning that no vessel crosses without Tehran’s permission. It was the first real test of the strait since the ceasefire reopened it. The strait is the one chokepoint Iran still holds. So while Iran squeezed it, Baghdad opened the routes Iran cannot touch.
In the north, the state-run North Oil Company put Basra crude back onto a line that runs to Turkey, lifting the northern route to about 340,000 barrels a day. The Kirkuk to Ceyhan pipeline has finished testing and set a two-week window for trial pumping. Gulf Keystone restarted production at its Shaikan field on June 24, the first international operator back online since the war shut the Kurdish fields.
The deal Z carries to Washington
The biggest move is the one the prime minister carries to the White House in mid-July. Ali al-Zaidi is set to sign a deal with the US investment firm TI Capital to rebuild the 850 kilometre Kirkuk to Baniyas pipeline, carrying Iraqi crude to Syria’s Mediterranean coast, alongside security guarantees that bring Exxon and Chevron back to the oilfields.
• Northern route – about 340,000 barrels a day of Basra crude now moving north to Ceyhan, on a road Iran cannot reach
• Kirkuk-Ceyhan – testing complete, trial pumping inside two weeks
• Gulf Keystone – restarted Shaikan June 24, first international operator back since the war
• Washington deal – TI Capital to rebuild the 850 kilometre Kirkuk-Baniyas line to the Mediterranean, plus security for Exxon and Chevron
• The rate – 1,300 official, about 1,450 on the street, with the central bank denying a change for the second time this month
That is the short version, the moves anyone can see. The daily briefing is where we connect them: why the routes, the cleanup, and the cabinet all land inside the same three weeks, and what it means for anyone holding the dinar.
Read the full daily briefing free for 5 days. Sign up here: resetintelligence.com
If you want the full documented case behind it, the book is Head of the Snake (25% off with code 25XOFF), and the free guides and scenario reports are in the Resources library.
For 40 years the strait decided when Iraq got paid. The only question now is who is paying attention while that changes.
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