By John Lee.
The Iraqi government has reportedly engaged the law firm Vinson and Elkins to target buyers of the crude oil which they say is being illegally exported from Iraqi Kurdistan.
A anonymous Iraqi source told Reuters:
“This is not a game. Anyone who buys this oil is doing something illegal … We will target the companies because they are the ones who will monetize and pay for the Kurdish oil. How else can it get onto the market?”
In early January, the Turkish Energy Minister Taner Yildiz confirmed that 300,000 bpd of crude was being pumped via a new pipeline to Turkey’s Mediterranean port of Ceyhan.