Oil tanker from Kurdistan finds no takers in the U.S.
A crude oil tanker with oil from Kurdistan, heading toward the U.S. Gulf Coast, reversed its course after The U.S. State Department said that any buyer who purchases the oil could risk a legal suit from the Iraqi central government according to Iraqi news reports.
The statement of the U.S. State Department is likely to discourage potential buyers in the U.S. on purchasing the oil from Kurdistan.
According to ship-tracking data and market sources, the United Leadership oil tanker was loaded at the Turkish port of Ceyhan last week and was set course for the U.S. Gulf Coast.
The situation occurred due to the dispute between Iraqi Kurdistan and Baghdad over the sale of oil. Kurdish government last week decided to sale its own oil without interference from Baghdad. Officials of Baghdad were unhappy with the move.
The United Leadership oil tanker was carrying the first shipment of oil after the Kurdish government decided to sell the region’s oil directly to buyers through the newly built pipeline into Turkey. AIS Live Ship Tracking showed that the United Leadership tanker reversed the course south of Portugal. Therefore, for the moment, the oil tanker appears to be heading nowhere.