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Global Energy Advisory – 17th August 2018

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The Permian is still undoubtedly…

Oil Spills From Pipeline After Syria Army Retakes Oil Field From ISIS

Pipeline

Oil spilled from a pipeline at the al-Teym oil field in the oil-rich desert south of Deir al-Zor in Syria after the Syrian Arab Army and its allies had recaptured the oil site from ISIS, video footage uploaded on Friday on YouTube by Berlin-based video news agency Ruptly shows.

Earlier this month, Syrian state TV reported that the Syrian army and its allies had retaken the Teym oil field as forces were advancing to clear the city of Deir al-Zor from Islamic State militants.

According to the Syrian Observatory for Human Rights, the army also seized part of a highway from Deir al-Zor to the city of al-Mayadeen—a move that could block possible IS reinforcements coming from al-Mayadeen.

Days before that, the Syrian army had broken through Islamic State lines and reached an enclave held by the government in Deir al-Zor.  

At the end of August, the Syrian Arab Army staged an offensive to recapture oil-rich areas of the Al-Raqqa governorate that had previously been under the shadow of the Islamic State.

The area is home to the Jararih oil field near Salaam ‘Alaykum village, a military report said. An attack by Syrian President Bashar al-Assad’s military eliminated ISIS elements from the field earlier in August.

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Meanwhile, this week, U.S. and coalition military forces continued to attack ISIS in Iraq and Syria. The coalition destroyed tactical units, fighting positions, and vehicles near Abu Kamal and Raqqa in Syria.

Syria’s oil resources have exchanged hands several times since 2014, when ISIS declared its caliphate in parts of both Syria and Iraq. Initially, the terrorist group was able to use revenues from oil processing facilities to fund its illicit operations. International coalition forces soon recaptured oilfields and refineries, cutting into ISIS’ bottom line and forcing it to cut operational costs and salaries for its fighters.  

By Tsvetana Paraskova for Oilprice.com

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