Replies to post #8609 on The Rising Influence of Rising Affluence

[DewDiligence]

CLB’s Saybolt subsidiary could lose business in Iraq due to work with Kurds:

http://online.wsj.com/articles/in-challenge-to-iraq-kurds-pin-future-on-stealth-oil-sales-1405996352

"Any company that deals with or handles the [Kurdish] cargo, we will not deal with it," an Iraqi government official said this month. "Any discharge authorities, any port authorities, any party at all dealing with the cargo coming from Kurdistan without approval from the federal government, the oil ministry will take action with them."

On June 29, more than a month after the United Leadership sailed, SOMO [Iraq’s state oil-marketing company] informed its clients that Iraq had blacklisted Saybolt International BV, a Netherlands-based unit of U.S. firm Core Laboratories that had inspected the United Leadership and United Emblem before the tankers set sail with Kurdish crude. Saybolt declined to comment on how it would affect business.

This probably isn’t material to CLB’s overall business.