ISIS is losing territory and revenue, down 60%, 80% Three years after Islamic State leader Abu Bakr al-Baghdadi declared the ‘Caliphate’, the terrorist group known for its extreme brutality has lost more than 60 percent of its territory and 80 percent of its revenue, according to new analysis released today by IHS Markit. Governance project has failed The Islamic State’s caliphate
From the Washington Post IRBIL, Iraq – Islamic State gunmen launched a brazen raid Friday on the northern city of Kirkuk, attacking government buildings and police positions in what local officials speculated was an attempt to divert resources and attention from an Iraqi offensive on northern city of Mosul, where the group is losing ground. Running gun battles continued in Kirkuk
Iraqi offensive cuts ISIS oil revenue Islamic State militants no longer control any oil wells in Iraq following an offensive by government forces last week. Iraqi forces retook the oilfields of Shargat and Qayyarah, leaving ISIS unable to produce oil in Iraq and unable to smuggle oil out of the country to sell and fund their organization, reports Kurdish news
After Paris: U.S. and Russian air strikes target ISIS’s $50 million monthly oil revenues As the battle against ISIS continues, allied forces are increasingly targeting oil assets and the convoys of trucks being used to smuggle oil from ISIS-controlled oilfields. The idea is to cut off the major source of funding for the Islamic State’s barbaric terrorist activities. It is
Exclusive Oil & Gas 360® Pre-OPEC Interview with Former Shell Oil President With all eyes peering toward Vienna tomorrow, analysts and experts are in near lockstep that OPEC will maintain production, with a few saying it may raise its cap which OPEC has out-produced for the last 12 months. Oil & Gas 360® interviewed John Hofmeister, former President of Shell
“[ISIS] presents a whole new reality for the region, which just isn’t reflected in the oil market at the moment,” said Daniel Yergin, Vice Chairman of IHS, in an interview with The Telegram. “It’s an increasingly grave situation for most of OPEC and the Middle East. At some point the security issues will start to come back into the price
President Obama addressed the nation on Wednesday night, urging Congress to increase funding, assistance and conduct “a series of strategic airstrikes” against the Islamic State, or ISIL, the group marching across Iraq that recently beheaded two American journalists on Internet broadcasts. The President vowed to support the Iraqi government by providing military training and supplies, but stopped short of placing
Reuters reported that both ExxonMobil Corporation (ticker: XOM) and Chevron Corporation (ticker: CVX) evacuated their staffs from Iraqi Kurdistan this morning. The employees of the oil giants join several thousand civilians attempting to escape violent Islamic State terrorists, also known as ISIS, who are now within a 30 minute drive of Abril, the Kurdish regional capitol. On June 13, Rupert
It is no coincidence that ISIS is using the oil fields and pipelines it captured in Iraq and Syria to sell crude oil for the purpose of funding its activities, according to a report in Istanbul’s Daily Sabah, dated July 10, 2014. In the report, Erdal Tanas Karagöl, economy director at the Ankara-based non-profit SETA Foundation for Political, Economic and Social
