A still image from video taken by a U.S. Coast Guard HC-144 Ocean Sentry aircraft shows the oil tanker United Kalavyrta (also known as the United Kalavrvta), which is carrying a cargo of Kurdish crude oil, approaching Galveston, Texas July 25, 2014. Credit: Reuters/US Coast Guard/handout via Reuters
For Wandering Tankers With $300 Million Of Kurdish Crude, End-Game Still In Doubt -- Reuters
(Reuters) - After a legal show-down in Texas this week, the outlook for a handful of tankers holding some $300 million worth of Kurdish oil is not looking good.
Seemingly unable to find enough buyers willing to take a risk on million-barrel cargoes of disputed crude, the Kurdish authorities are paying over $75,000 a day to keep all three far-flung vessels afloat. A fourth ship began filling up at a terminal on the Turkish coast on Thursday, potentially adding to the tally, Reuters reported.
Unless they can seal last-minute discreet sales or reach some kind of deal with Baghdad over how to share oil revenues, experts say, chances are slim of unloading ships now dotted around the globe, from Texas to Malaysia. In total, they have already been at sea for nearly half a year.
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My Comment: No reputable buyer is one is going to purchase this crude .... the legal headaches are not worth the aggravation .... even if the oil could be bought at a good price.
Granted no one will buy the Kurdish crude.
ReplyDeleteHow is ISIS selling their crude through Turkey?
If the Sunni area of Iraq is not brought back into the fold in 3 years time, when do nations recognize an independent Kurdistan?
ReplyDeleteLet's say Joe Biden gets elected. He recommended that Iraq be broken up into 3 states. So if he got elected why not recognize Kurdistan.