• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 hours U.S. Presidential Elections Status - Electoral Votes
  • 7 hours Evergrande is going Belly Up.
  • 10 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 4 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 2 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 3 days World’s Biggest Battery In California Overheats, Shuts Down
  • 2 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 1 day Ten Years of Plunging Solar Prices
  • 1 day Extraction of gasoline from crude oil.
  • 4 days The coming Cyber Attack
  • 4 days Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 4 days Ozone layer destruction driving global warming
  • 4 days 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers

Breaking News:

UN Climate Conference Snubs Big Oil

Russian Oil Exports Under Fire As Iraq Slashes Prices

Russian Oil Exports Under Fire As Iraq Slashes Prices

The price of Russia’s flagship…

Nord Stream 2 Could Still End Up In Investment Ruin

Nord Stream 2 Could Still End Up In "Investment Ruin"

Nord Stream 2, the controversial…

U.S.-Led Coalition Kills ISIS Chief Of Oil Smuggling

The U.S-led coalition fighting Islamic State has killed the leader of the militants responsible for its oil and gas smuggling operations, Combined Joint Task Force Operation Inherent Resolve officials said on Tuesday.

Abu Khattab al-Iraqi, the leader of ISIS’s oil network who managed revenue generation through the illicit sale of oil and gas, was killed in Syria’s Middle Euphrates River Valley on May 26, together with three other ISIS members affiliated with its oil and gas operations.

“The death of these ISIS members hinders the terrorist group’s ability to finance operations throughout Iraq and Syria. With the removal of this network, the ability to pay fighters, procure weapons and maintain equipment will be degraded,” the U.S. Department of Defense said.

Combined Joint Task Force Operation Inherent Resolve (CJTF-OIR) is committed to defeating ISIS and setting conditions for follow-on operations to increase regional stability, the task force said.

The coalition reclaimed a lot of territory from ISIS in eastern and northern Syria last year, including Raqqa—the terrorists’ self-proclaimed capital of their ‘caliphate’. The CJTF-OIR coalition continues to fight the Islamist militants in desert areas east of the river Euphrates.

According to a recent investigation by The New York Times, contrary to what has been assumed so far, black market oil sales were not the only and not even the largest revenue stream for ISIS. According to documents analyzed by the NYT, the Islamic State was able to hold onto vast swaths of Iraq and Syria between 2014 and 2017 because it taxed almost every business and production under its rule, and was not trying to replace government agencies and employees, but would rather have them continue to work.

Documents recovered in Syria showed that the ratio of income earned from taxes compared to proceeds from oil sales was 6:1, according to experts asked by the NYT for analysis.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News