• 3 hours UK On Track To Approve Construction of “Mini” Nuclear Reactors
  • 7 hours LNG Glut To Continue Into 2020s, IEA Says
  • 9 hours Oil Nears $52 With Record OPEC Deal Compliance
  • 12 hours Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 14 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 15 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 4 days New Video Game Targets Oil Infrastructure
  • 4 days Shell Restarts Bonny Light Exports
  • 4 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 4 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 5 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 5 days Rosneft Signs $400M Deal With Kurdistan
  • 5 days Kinder Morgan Warns About Trans Mountain Delays
  • 5 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 6 days Conflicting News Spurs Doubt On Aramco IPO
  • 6 days Exxon Starts Production At New Refinery In Texas
  • 6 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 7 days VW Fails To Secure Critical Commodity For EVs
  • 7 days Enbridge Pipeline Expansion Finally Approved
  • 7 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 7 days OPEC Oil Deal Compliance Falls To 86%
The 5 Countries That Could Push Oil Prices Up

The 5 Countries That Could Push Oil Prices Up

Geopolitical tension is largely irrelevant…

OPEC Seeks Help From U.S. Shale

OPEC Seeks Help From U.S. Shale

OPEC’s secretary general has asked…

Syrian Army Repels ISIS Attacks On Two Oil Fields

ISIS oil refinery

Syria’s army and its allies have repelled ISIS terrorist attacks at two oilfields in the oil-rich Homs area, Tehran-based Fars News Agency reported on Thursday, quoting a military source.

“The Syrian army and the National Defense Forces (NDF) repulsed the ISIL terrorists' heavy attack on their positions in al-Mahr oilfield, killing and wounding tens of them and destroying their equipment and military vehicles,” according to the source.

Army troops, backed by the air force, also clashed with the ISIS militants near the al-Shaer oilfield, in a sign that the terrorists continue to fight to lay their hands on oil infrastructure so they can later use it to smuggle the crude.

On Wednesday, the U.S. Department of Defense said that U.S. and coalition military forces airstrikes in Syria destroyed two ISIS oil tanker trucks and an oil pumpjack near Abu Kamal, as well as eight oil tanker trailers and an oil wellhead near Dayr Az Zawr.

In August, the army hit major gatherings of ISIS in the Homs area, and coalition airstrikes have wiped out more ISIS oil assets since. Last month, strikes near Dayr Az Zawr destroyed 55 ISIL oil tanker trucks and 13 supply routes.

While currently the major battle against ISIS is in Mosul, Iraq’s second-largest city, which has been under the terrorists’ grip since 2014, the Syrian army and coalition forces are trying to deprive the terror group from a major source of its income—oil smuggling.

In neighboring Iraq, army advances against the Islamic State have managed to cut significantly the terrorists’ proceeds from smuggling oil. Since ISIS lost control of the Alas and Hamrin oilfields near Tikrit in April of this year, the group’s income has been declining by an additional US$1 million every day. The price for the smuggled oil, which once stood above US$6,000 a vehicle, has been reduced to US$2,000.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • JACK MA on October 20 2016 said:
    Translation...

    The Western Globalists terror troops are being moved from Mosul to Aleppo to prepare for the epic battle against the Syrian and Russian forces. The Western Globalists terror troops will create as much chaos and havoc as possible along the way to wear down and distract the Syrian army before the battle for Aleppo begins on or near election day.


    When all that remains is the sad and utter wreckage of war, who's passport shall remain unscathed on the battle field. The globalists better hold back a few terror troops for after the battle to remove all UDS from the dead pockets of these teenager-child soldiers also known as cannon fodder.


    They too are victims of a truly evil Western empire. To make matters worse, with Mosul empty of any Western assets, they may just blow the dam and send oil prices to 200 over night.


    Let's us all search out the milk of human kindness and spread it to the world.

    Warmest regards to all.

Leave a comment

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