Axeon to Refuse Kurdish Crude

By Patrick Schmidt.

On Monday, August 11, Axeon Specialty Products announced that they would no longer accept any shipments of crude oil from the Kurdistan Regional Government (KRG).

The tanker Minerva Joy arrived at a New Jersey port with the intention of delivering their cargo to Axeon; however, the tanker has not offloaded any of its contents. A statement on the matter from Axeon said,

“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 previously received a shipment of Kurdish crude in June. Two weeks ago, another purchaser of Kurdish oil, Lydonell Basell, also announced they would cease buying Kurdish crude.

(Source: Reuters)

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