The United Leadership, carrying the first independent exports of crude oil from the Kurdistan Region, was stationed some 48 kilometres off the coast of Morocco as of Sunday, Reuters reported.
The vessel left Ceyhan on May 23 for the US Gulf Coast but, according to Reuters and ship tracking data, the vessel reversed course in the direction of the Mediterranean shortly thereafter. Sources noted that the crude was also turned away from the Mohammedia refinery in Morocco, and on June 4, Italian authorities issued a letter stating that Iraq’s Oil Marketing Company could pursue legal action against buyers of the crude oil. The US State Department had issued a similar statement last week.
The crude oil on board the two tankers represents the ongoing struggle between the Kurdistan Regional Government (KRG) and Iraq’s federal government over autonomy and oil rights. The KRG has asserted that it has the constitutional authority to export and market oil, provided that it divides proceeds in accordance with the country’s laws and constitution. The federal government in Baghdad has denied this right, and has issued warnings to oil companies, refineries and traders alike that engagement with the KRG would be in defiance of Iraqi law.
Upon notice of the first loading of crude oil last month, Baghdad issued a request for arbitration to halt future exports and hamper the sale of the loaded crude. The KRG in turn asserted that such a request was in violation of both national and international law.
There is still no buyer for the Kurdish crude.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.