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Tag Archives: Islamic State

Financial shocker of the year: Oil at $60

NEW YORK — For the first half of 2014 the oil market looked just as it had the year before — and the 2 years before that. Oil was over $100 and drivers in the U.S. were paying around $3.50 for gasoline. Economies around the world seemed to have adjusted to higher priced oil and oil companies were using high ...

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Egypt militant group says it killed US oil worker

CAIRO — An Egyptian militant organization allied with the Islamic State group has claimed responsibility for the killing of an American oil worker. Ansar Beit al-Maqdis, which now refers to itself as the Sinai Province, said on its official Twitter account late Sunday that it killed William Henderson. It published pictures of his passport and two identification cards. It did ...

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Oil industry swashbucklers hit by war, disease and shale boom

pumpjack

CALGARY, Alberta, Nov 24 (Reuters) – The world has become a more difficult place for the small, intrepid Canadian oil explorers that roam the globe hunting for the next big petroleum discovery. Like the big-game hunters that once ranged Africa, these small-cap explorers and producers (E&Ps) call their quest for billion barrel-plus oil deposits “elephant-hunting,” and for many the thrill ...

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Turkey crackdown on oil smugglers feeding IS group

HACIPASA, Turkey (AP) — Sevda, a 22-year-old waitress in a brown apron, recounts how she made a small fortune running smuggled diesel from a village on Turkey’s wild and dangerous border with Syria. But the days when she could earn 20 times her salary waiting tables came to an abrupt end several months ago when police arrested her and slapped ...

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US-led strikes hit IS group oil areas for 2nd day

Ryan Lucas | Associated Press BEIRUT — American-led coalition warplanes destroyed four tanks belonging to the Islamic State group in eastern Syria on Friday, the U.S. military said, targeting the militants in a key oil-producing area that has generated millions of dollars in revenue for the extremist faction. The strikes outside the city of Deir el-Zour on the Euphrates River ...

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Syria, Iraq oil controlled by Islamic State group

BEIRUT (AP) — For the first time since the Unites States and five Arab countries started bombing positions of the Islamic State group in Syria, oil installations under control of the militants were targeted overnight and early on Thursday. Here is a look at the oil in the hands if the Islamic State group, which has overrun several large oil ...

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Official: Fighting in Iraq delays Iran gas exports

TEHRAN, Iran (AP) — The fighting between Iraqi troops and Islamic State militants will delay even further the planned start of Iranian natural gas exports to neighboring Iraq, Iran’s oil minister was quoted as saying Wednesday. Oil Minister Bijan Zanganeh said the pipeline, which is still under construction on the Iraqi side, goes partly through territory now controlled by the ...

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