Controls eight oilfields

28 Aug, 2014

ISIS is reported to control eight oil and gas fields in the Syrian provinces of Raqqa and Deir Ezzor that produce 30,000-70,000 barrels a day. Syrian, Iraqi and Lebanese sources involved in the trade say it sells heavy oil at an average of $26-$35 a barrel to local merchants and merchants across the border in Iraq, or to upstart refineries financed by Turkish, Lebanese and Iraqi businessmen. Light crude sells at up to $60 a barrel. Beyond Syria and Iraq, Kurdish merchants transport oil into Iraqi Kurdistan and sell it to Turkish or Iranian traders, who smuggle it into their countries to be sold at a discount, or sell it back to the Syrian government.

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