According to oil industry sources contacted by Milliyet, the price of the ship’s cargo has plummeted amid the tensions. The crude oil price at international markets is $110 per barrel at present. Accordingly, the ship’s cargo, loaded at Turkey’s Mediterranean oil terminal, Ceyhan, was calculated to be worth $115 million. But now the sellers are said to be ready to sell the cargo for $56 million.
US warnings
The United States has also objected to the Kurdish regional administration exporting oil independently from Baghdad. US State Department spokeswoman Jen Psaki has stated that Washington does not support oil exports without approval of the Iraqi federal government and is concerned about such exports taking place.
Maliki: Turkey’s actions unacceptable
Iraqi Prime Minister Nouri al-Maliki has denounced Turkey for its involvement in [efforts at] selling the northern Iraqi oil. In remarks to Iraqiya TV, Maliki said Turkey acting as intermediary in taking the Kurdish oil to international markets without Baghdad’s consent was unacceptable. He described those sales as trampling on Iraq’s honor.
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