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Issue #590 | Perishables | Mediterranean | Middle East | Africa Trade

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Mediterranean | Middle East | Africa Trade

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2014 Media Kit
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U.S. refiner Axeon says won’t buy any more disputed Kurdish crude

By: | at 02:13 PM

U.S. refiner Axeon Specialty Products will not buy or accept delivery of any cargoes of disputed Kurdish crude oil for its Paulsboro, New Jersey, refinery, according to a company news release received on Monday.

The tanker Minerva Joy, loaded with an estimated 300,000 barrels of Kurdish crude at the Turkish port of Dortyol, arrived to Paulsboro on Monday as scheduled, but it has not been unloaded and is currently anchored, according to Reuters tracking data.

Several cargoes of Kurdish Shaikan crude have recently reached the United States and Iraq’s central government has moved to block independent exports of crude by the Kurdistan Regional Government.

“In light of the dispute over the rights to sell crude oil originating from the Kurdish region of Iraq, Axeon will not purchase or accept delivery of any of the affected crude oil until the matter is appropriately resolved,” the company said.

Axeon Specialty Products said previously it received a separate cargo of Kurdish Shaikan crude in June.

Two weeks ago, refiner LyondellBasell NV, confirmed it recently bought “modest quantities” of what public records show is Kurdish Shaikan crude and said it would scrap further purchases of the disputed oil for the time being.