Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
James Gavin
26 June 2015
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Islamic State has eyes on oil production

IS may have established a rudimentary oil and gas system, but it needs to find fresh production if it is to support itself

Most Middle Eastern militias view oil and gas assets either as sabotage targets or as bargaining chips to extract concessions from their opponents. Not so the self-styled Islamic State. From the outset, IS has set its self apart from the terrorist herd, viewing hydrocarbons as a critical resource in building their fledgling caliphate. Crude oil revenue streams are being used to consolidate its expanded territorial empire that stretches from the northern Syrian town of Raqqa to Ramadi, in touching distance of the Iraqi capital.  Having muscled rival Islamist militias out of the oil-rich eastern Syrian oil patch in 2013, it swiftly assigned fields to clans that had sworn allegiance to IS. It a

Also in this section
OPEC and the evolving global oil order
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
Billion-dollar deal sees Gabon swap barrels for instant cash
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
Why the UAE decided to quit OPEC
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
Letter from the US: This crisis Is different
Opinion
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search