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Islamic State’s oil revenues ‘slashed’ by air strikes

Mandatory Credit: Photo by REX USA (2642870a) Hayat Boumeddiene, far right Hayat Boumeddiene 'appears in Islamic State film' - 06 Feb 2015 The latest video released by French-speaking Islamic state (ISIS), fighters may be Hayat Boumeddiene, who is believed to have knowledge about the deadly January 9, 2015 attack on a Paris kosher grocery,The video, titled "Blow Up France 2," was released Tuesday and shows an ISIS fighter praising previous attackers in France and calling for new attacks. The video shows a woman standing next to the speaker, wearing camouflage clothing and holding a weapon. French authorities are investigating the possibility this woman could be Hayat Boumeddiene. Her husband, Amedy Coulibaly, killed four hostages January 9 at a kosher grocery in Paris, authorities said. He was killed by police in a rescue and the remaining hostages fled to safety.

PHOTO: REX USA

 

Air strikes targeting oil facilities controlled by the Islamic State group in Syria and Iraq have greatly eroded the jihadists’ production capabilities and almost halted exports, French industry experts have told a parliamentary committee.

Francis Perrin, head of the French company Energy Strategies and Policies, and Francis Duseux, president of the French Union of Oil Industries, estimated on Tuesday that IS was now producing between 10,000 and 30,000 barrels a day compared to double that amount in mid-2014.

Duseux described IS’s situation in Syria as “critical” because it was no longer able to even meet the fuel needs for its war against the regime of President Bashar al-Assad.

“The air strikes by the US-led coalition have had a big effect, especially since the launch of Tidal Wave II in autumn 2015,” Perrin said at the committee hearing held on Tuesday.

“It specifically targeted oil facilities, drilling rigs, pumps, wells in certain cases, refineries and mini-refineries, oil pipelines and tankers, storage facilities and collection points.

“Daesh’s entire oil supply line is targeted,” he added, using an Arab name for IS.

“Its oil revenues have therefore sharply declined since the summer of 2014,” Perrin added.

The fall in global oil prices had also bitten hard, and the jihadists had difficulty repairing or maintaining facilities hit in air strikes, the expert said.

“Today, these profits are likely to be far lower than what is often given. It’s probably not more than $400 million a year, probably less.”

Francis Duseux told the parliamentary committee that production was down as low as 10,000 barrels a day — and that IS was no longer able to export from Syria at all.

“The local information that we have is that Daesh’s production has decreased considerably. We estimate they are now turning out about 10,000 barrels a day,” he said.

“We believe that Daesh can no longer export anything from Syria.

“We get the impression that they are having difficulties even meeting their needs for the war those of the local population that they are controlling. So their situation is critical.”

The Pentagon said in January that the campaign of air strikes had reduced IS’s oil-producing capacity by 30 percent compared to October 2015.



2 Comments
  • BENBELLA

    Pretty good information , BUT who are their Oil buyers in the black market ? also which banks keeps their MONEY at where ?

    • okpada

      Good question my brother. God bless you.

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