Another source says that the Islamic State controls areas including 60 oil wells. If only eleven of them are operational at this point and they’re making three to six million dollars a day, that revenue could significantly increase once the caliphate puts all the wells into action.
But who is buying this oil?
“Islamic State makes 3-6 mln dollars per day from oil revenue,” ANSAmed, September 25, 2014 (thanks to Insubria):
(ANSAmed) – BEIRUT – Eleven oil wells in Iraq and Syria are believed to bring in over three million dollars per day to Islamic State (IS) coffers.
Israeli intelligence sources claim that the amount may be higher, as much as six million dollars per day. This is the reason behind the US airstrikes Wednesday evening on oil installations in the Deir Az-Zor province, eastern Syria. The ‘Islamic Caliphate’ proclaimed by Abu Bakr Al-Baghdadi uses the funds – which make it the largest terrorist economic powerhouse ever – to stock up on weapons, pay its fighters well and buy off local Sunni tribes. IS controls four of the five main oil fields in Deir Az-Zor, the region with the most energy resources in Syria.
By selling oil at sharply reduced prices, say several sources in Syria, IS has been able to secure the support of armed tribal clans in both Deir Az-Zor and Raqqa, the only Syrian province entirely in its hands. In the Himrin region of Iraq’s Diyala province (near the Iranian border) alone, IS is thought to be earning 600,000 dollars per day, the mayor of a city in the region, Oday Al-Khadran, stated in recent days. Khadran said that the jihadists fill about 100 tankers of oil per day and deliver it ”to ruthless retailers in Mosul or Syria. Here it is sold to foreign mediators at some 4,000 dollars for each tanker, some 80% less than market prices in Europe”.
The smugglers are then believed take it in several different directions – to Turkey, Iraq or Syria – but the end destinations are unknown. (ANSAmed).
LJ says
I guess they need a certain amount of that fuel to power their advance in the steal camels, humvees etc that have been abandoned by the retreating forces that were trained on the taxpayers dollar.
JamesonRocks says
Follow the money with A few F-18’s, B-2’s, and the new F-22’s!
umbra says
Much easier to decommission those functioning oil fields. It would be more difficult to bring them back online than to find new tankers.
mortimer says
Once the entire fleet of tanker trucks is destroyed by airstrikes, the oil will not move. No driver will accept the job for any money.
Salah says
“Once the entire fleet of tanker trucks is destroyed by airstrikes…”
It won’t happen, mortimer. Obama does not want to destroy ISIL, he only wants to score some political points while teaching his friends (ISIL) a lesson: I armed you, funded you, trained you, don’t you dare come back and bite me.
He will bomb a few targets here and there but he will NEVER completely destroy ISIL.
Allan says
Unless potential drivers think of the job as a ticket to the 72-virgin paradise.
Rob says
Not any more!
fair_dinkum says
we know a great deal is going to ‘un involved’ Turkey.
i just watched footage of air strikes on these facilities. seems theyll be easy to knock out.
AnneM says
No wonder they are no longer are asking for jizya tax from non-Muslims!
pdxnag says
They were disrupting the oil cartel by selling oil at bargain basement prices. That is, it makes sense to the cartel to stop the flow of their oil for purely non-Islamic reasons, or rather for pro-Islamic reasons to fund their own greater worldwide jihad.
Lisa says
I would not be surprised if their oil ends up indirectly in US. After all environmentalists don’t want Canadian oil, but are OK with Sharia oil being imported. Some of it may be IS oil as well.
lion rampant says
Yep. Follow the oil. Its effectively an embargo and therefore a good loyalty test
for the coalition of the ‘willing’ arab states. Will they allow oil from isis across their borders ?
I am not holding my breath.
Decommisioning the wells is the only option.
Uncle Vladdi says
Turkey has already ‘fessed up in public to buying the stolen oil.
TURKEY SHOULD BE KICKED OUT OT NATO, AND THEN NATO SHOULD ATTACK TURKEY.