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Tag Archives: Islamic State

Libya says 11 oil fields non-operational after IS attacks

TRIPOLI, Libya — Libya’s state-run oil corporation has declared 11 oil fields in the country non-operational after attacks by suspected Islamic State militants, opting for a force majeure clause that exempts the state from contractual obligations. The National Oil Corporation blamed authorities in the Libyan-capital of Tripoli, set up by Islamist-backed militias, for failing to protect the oil fields. The ...

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Purported Islamic State militants attack Libyan oil field

TRIPOLI, Libya — Militants purportedly from the Islamic State group attacked an oil field near Libya’s central coast, prompting a counterattack by the country’s Islamist-backed government that included airstrikes, an official said Wednesday. The militants swept down from the city of Sirte to attack the al-Dhahra oil field, trading fire with guards and blowing up residential and administrative buildings before ...

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Oil trades near $61 on Libya clashes

LONDON – Oil rose more than $1 in volatile trade on Tuesday as fighting in Libya and signs of stronger global demand outweighed persistent concerns about a supply glut. Brent crude futures rose more than $2 at one point before slipping back to trade just below $61, recovering from their biggest one-day decline in a month on Monday. Rival Libyan ...

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Iraq battles to rebuild despite war and oil slump

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BAGHDAD – On a main highway south of Baghdad, dozens of buildings rise up from the Iraqi plains, the first blocks of a multi-billion-dollar city emerging from a landscape more accustomed to conflict and crisis than glitzy new development. Bismayah New City, which aims to house half a million people within four years, dwarfs any construction project Iraq has attempted ...

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Oil gains on Libya violence, Kurdish oil export threat

LONDON/NEW YORK, Feb 16 – Oil prices rose to their highest in nearly two months on Monday, supported by concerns over escalating conflict with Islamic State militants in Libya and a threat to withhold exports from Iraq’s semi-autonomous Kurdish region. Egypt bombed Islamic State targets inside Libya on Monday and Cairo renewed calls for a U.S.-led coalition to confront militants ...

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Iraq’s oil exports dip by 14 percent in January

BAGHDAD — Iraq’s Oil Ministry said on Thursday that crude exports averaged 2.535 million barrels a day in January, a decrease of nearly 14 percent from the previous month, depriving the nation of badly needed cash both for ongoing military operations against extremists and reconstruction efforts. Last month’s revenues stood at $3.258 billion, based on an average price of $41.45 ...

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Egypt jihadists claim attack on Sinai pipeline to Jordan

AMMAN — Egyptian jihadists claimed Monday to have bombed a pipeline in the Sinai that carries gas to Jordan, saying it was targeted over the Kingdom’s role in the US-led offensive on the Islamic State (IS) group, Agence France-Presse reported. Egyptian militant group Ansar Beit Al Maqdis, which has pledged allegiance to IS, tweeted unverified pictures of the claimed attack, ...

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