KRG Oil Export Plans All At Sea

A tanker carrying 1mn barrels of Kurdish crude has changed course twice since leaving the Turkish port of Ceyhan on 23 May and was last reported motionless off the coast of Morocco, presumably in search of a buyer.

Iraq’s Kurdistan Regional Government (KRG) says the ‘United Leadership’ had reached its destination, but tanker tracking data shows the ship sitting in the water with a cargo that few traders will dare handle after Baghdad renewed a warning to oil companies and traders against handling what it says is illegal oil.

The KRG’s attempt to market its own oil independently of Baghdad in a show of independence from federal control appears to have stalled, at least for now. In the meantime, another tanker, the Greek-flagged ‘United Emblem’, was headed for Ceyhan and was due to arrive on 9 June. Again, the charterer is unknown; nor is it known if there is a buyer for the oil. (CONTINUED - 1552 WORDS)