A tanker containing a million barrels of crude oil is floating around the Mediterranean, and its cargo is available at half-price. Any country seizing the bargain is helping Iraq’s Kurds to win greater independence.
An oil tanker hauling crude from Iraq’s semi-autonomous Kurdish region left Morocco’s territorial waters without unloading, days after the same ship u-turned in the Atlantic Ocean amid a legal challenge relating to its cargo.
Turkey and Iraqi Kurds defended last week’s sale of more than 1 million barrels of Kurdish oil to world markets, dismissing Baghdad’s claim before an international court that the sale was unauthorized.
A South Korean court has given Hyundai Heavy Industries Co. , the world’s largest shipyard, approval to buy Hyundai Oilbank Co. from International Petroleum Investment Co., backing a ruling in Singapore last year.