IS Selling Stolen Iraqi Oil

IS Selling Stolen Iraqi Oil

Iraq is losing more than $102 million each month because the IS militant group—aka ISIL that controls large parts of the country—is selling stolen oil, according to a parliamentary report issued Wednesday.
The report states that, on a monthly basis, the militant group is selling some 1.27 million barrels of oil seized from the country’s oil wells.
“ISIL currently controls six of the country’s oil wells, from which it is producing 1.27 million barrels of oil,” MP Ahmed Haji Rashid said, World Bulletin reported.
According to Rashid, IS is hurting the country in two different ways—“by selling oil at $30 per barrel with which it purchases weapons.”
“This is how it maintains its existence, causing double harm to the country,” he said.
Recent weeks have seen clashes between IS militants and Iraqi security forces over the Baiji oil refinery—one of Iraq’s largest oil facilities—in the Saladin province north of Baghdad.
Iraq has struggled with a security vacuum since June of last year, when IS overran the northern city of Mosul.


Short URL : http://goo.gl/5iCdYg

You can also read ...

Shell in Talks to Sell $2b Worth of Nigeria Assets
Royal Dutch Shell Plc is in talks to sell two Nigerian oil...
Argentina to Export Natural Gas to Chile
Argentina will begin exporting natural gas to Chile from...
Germany Suggests India Continue Iran Oil Imports
Speaking to Indian TV, Germany voiced hope that India would...
Japan Will Face Higher Gasoline Prices After Halting Iranian Crude Purchase
Japan’s major oil distributors are considering halting oil...
Egypt Hikes Gas Price by 75%
Egypt said on Saturday it was raising the price of natural gas...
Cheap Fossil Fuels Hinder Renewables Development
The key factor hindering renewable energy development in Iran...
NIDC Indigenizes  Eco-Friendly Well Test Burner
The National Iranian Drilling Company's experts have designed...