Iraq/Kurdistan: For Wandering Tankers with $300mln of Kurdish Crude, End-Game Still in Doubt

Aug 1, 2014 | Jonathan Saul, Reuters
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Aug 1 (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.