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LyondellBasell cancels future crude deals from Iraq

: Saturday, August 02 - 2014 @ 04:34

US-based LyondellBasell, which bought Kurdish crude oil being claimed by Iraq, has confirmed it has recently purchased “modest quantities of Iraqi crudes” for its Houston Refining unit but it would scrap additional purchases for the time being, Reuters has reported. “This Iraqi crude is apparently now the subject of an ownership dispute,” the company said. “We have cancelled further purchases and will not accept delivery of any of the affected crude until the matter is appropriately resolved,” it said.

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Saturday, August 2- 2014 @ 4:34 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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