• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 2 hours The Discount Airline Model Is Coming for Europe’s Railways
  • 8 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 21 hours Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 20 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 7 hours Saudi Fund Wants to Take Tesla Private?
  • 17 hours Starvation, horror in Venezuela
  • 7 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 15 mins Venezuela set to raise gasoline prices to international levels.
  • 8 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 22 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 23 hours France Will Close All Coal Fired Power Stations By 2021
  • 2 mins Corporations Are Buying More Renewables Than Ever
  • 16 hours WTI @ 69.33 headed for $70s - $80s end of August
How To Trade The Turkish Crisis

How To Trade The Turkish Crisis

A run on the Turkish…

Why Is Big Oil So Excited About Alaskan Crude?

Why Is Big Oil So Excited About Alaskan Crude?

Alaskan officials have just published…

Iraq’s Army Surrounds Oil Refinery As It Prepares To Fight ISIS In Mosul

Iraq Golden Division

Iraqi Army troops have surrounded an oil refinery in the town of al-Qayyara, 40 miles out of ISIS-held Mosul, as they prepare for an assault on Iraq’s once second-largest city to try to drive the Islamic State militants out of it.

The Jihadists, who regularly smuggled tankers out of the fields around al-Qayyara, are now setting oil tankers ablaze in order to hamper the visibility of the advancing Iraqi Army.

The Iraqi Army had retaken the al-Qayyara air base in July, which could be of enormous help in the attack on Mosul, which had fallen to ISIS in June 2014.

So far the Iraqi Army has pushed ISIS out of the major cities of Tikrit, Ramadi and Fallujah.

General Najim al-Jobouri, the commander of Iraq's operations in the Nineveh province, told CNN that it seems ISIS has weakened. Most of the ISIS fighters were foreign nationals before, and now the militants are a mix of foreigners and locals, al-Jobouri noted.

This may be a piece of positive news for the army troops in the looming battle, but as in every battle in a war, fears of civilian lives lost are also looming large. The U.N. Refugee Agency UNHCR warned on Tuesday that it was preparing for massive displacement from Mosul.

Just last week, ISIS was hit hard in the very same province of Nineveh, when U.S.-led coalition forces struck a convoy of ISIS tankers, dealing yet another blow on the terrorist group’s oil infrastructure.

In July, ISIS set five oil wells in Mosul on fire in an attempt to stop the Iraqi Army, which had been steadily advancing towards the city.

Most recently, Iraq has reached an agreement with the Kurdistan Regional Government to resume crude oil exports from three fields in the Kirkuk region, which will add some 150,000 barrels per day to the total exported by OPEC’s second-largest producer by the end of this week.

Iraq is also moving to increase its oil output ahead of the OPEC meeting slated for September 26-28 in Algiers.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News