Wednesday, October 15, 2014

Airstrikes Have Taken Out Most of ISIL Oil Production

Revenues Down to Around $500,000 a Day
The U.S.-led coalition airstrikes on Islamic State’s oil production and refinery operations have caused major losses for the insurgents. The International Energy Agency reported today that the bombing runs have taken out most of ISIL’s oil production. (Reuters/, 15 October)

ISIL still controls fields capable of producing 20,000 barrels of oil a day, along with some small refineries that can process it into fuel, the IAEA says. With the falling oil prices, ISIL is also probably selling its oil in the black market at lower rate than last month. If its oil goes for around $20/barrel, their current income could be around $500,000 a day, much less than the estimates of $1-2 million a day over the summer.

Still to be hit are ISIL-controlled oil fields at Najma and Qayara (south of Mosul on the map), Himreen (south of Kirkuk) and Balad (north of Baghdad). Together they continue to produce about 10,000 barrels a day.

Map credit: Oil and gas fields in Iraqi, Kurdish and Syrian regions (Reuters)

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