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Tag Archives: Islamic State

Russian military says its bombing sharply cut IS oil incomes

MOSCOW — The Russian military has destroyed numerous oil facilities and tankers controlled by the Islamic State group in Syria, sharply cutting its income, Russia’s defense minister said Friday. Sergei Shoigu reported to President Vladimir Putin Friday that Russian warplanes destroyed 15 oil refining and storage facilities in Syria and 525 trucks carrying oil during this week’s bombing blitz. He ...

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Airstrikes hurt, but don’t halt, IS oil smuggling operations

BEIRUT — The United States and Russia are going after the Islamic State group’s oil industry, destroying refineries and hundreds of tanker trucks transporting oil from eastern Syria in a heavy bombardment in recent days aiming to break the extremists’ biggest source of income. The campaign already appears to be having some effect, with oil prices rising in areas of ...

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How Kurdistan bypassed Baghdad and sold oil on global markets

LONDON – Iraq’s semi-autonomous region of Kurdistan has for the first time detailed its secretive oil exports operations and said it plans to sell more, whether Baghdad likes it or not, as it needs money to survive and fight Islamic State. The region’s minister for natural resources, Ashti Hawrami, said that to avoid detection oil was often funneled through Israel, ...

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Despite US-led campaign, Islamic State rakes in oil earnings

BAGHDAD — The Islamic State rakes in up to $50 million a month from selling crude from oilfields under its control in Iraq and Syria, part of a well-run industry that U.S. diplomacy and airstrikes have so far failed to shut down, according to Iraqi intelligence and U.S. officials. Oil sales — the extremists’ largest single source of continual income ...

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Car Bomb explodes near Italian-Libyan Company HQ

A car bomb detonated today in front of the Tripoli headquarters of Mellitah Oil and Gas, a joint venture between Italian Eni and Libyan state oil firm NOC. Reuters reports that no one was killed in the blast, though windows were smashed and doors were damaged. This account from Reuters correspondents differed from an Eni spokesperson, who said that the ...

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US says IS head of oil operations killed in US raid in Syria

BEIRUT — In a rare ground attack deep into Syria, U.S. Army commandos killed a man described as the Islamic State’s head of oil operations, captured his wife and rescued a woman whom American officials said was enslaved. A team of Delta Force commandos slipped across the border from Iraq under cover of darkness Saturday aboard Black Hawk helicopters and ...

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