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A Serious Warning From The World’s No.1 Copper Nation

A Serious Warning From The World’s No.1 Copper Nation

Tougher environmental regulation in Chile…

Syrian Army Destroys ISIS Oil Tankers in Southern Province

Spec ops

The Syrian Army hit on Saturday an ISIS fuel convoy in the southern province of Sweida, destroying most of the oil tankers, Tehran-based Al Alam International News Channel reported on Sunday, citing military sources.

“At least four fuel tankers of the ISIL were destroyed in the Syrian soldiers’ attacks on the terrorists’ convoy near the village of Barik,” Fars News Agency quoted sources as saying.

Meanwhile, three ISIS oil tankers were targeted by the army near the al-Rashida wells, and also killed several terrorists, Fars reported.

Last month, the Syrian Army retook strategic points along a major oil pipeline in Al-Badia in western Syria from ISIS, after several days of fighting in which the army and its allies had been pushing into the desert region of al-Salamiyah.

Several local villages have reportedly been freed from ISIS’ control as the Syrian Army re-established its partial control of the vital oil pipeline.

ISIS -- which relies heavily on revenues from oil smuggling -- has seen its oil revenues in neighboring Iraq plummet as recent advances by Iraqi government and Kurdish forces have pushed the terrorists out of some oil-rich territories.

Last week, a joint attack by Kurdish and U.S. Special Forces led to the death of senior ISIS leader in charge of oil operations in Iraq and Syria, Sami Jassim al-Jabouri, who had also been known to authorities as Haji Hamad.

Security sources from the Iraqi Oil Ministry said that ISIS had been smuggling at least 50 vehicles full of oil every day from oilfields in Qayyarah and Najma. The two sites stand south of Mosul—the largest ISIS stronghold and the third largest city in Iraq by population.

However, new offensives against the terrorist organization have reduced the smuggling rate to five vehicles a day. ISIS’ prices for the smuggled oil, which once stood above US$6,000 a vehicle, have now been reduced to US$2,000.

By Tsvetana Paraskova for Oilprice.com

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