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2014-10-28 Iraq

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Posted by Beldar Sloque3832 2014-10-28 00:00|| || Front Page|| [6 views ] Top

#1 Excellent find. I was wondering the same thing. Without tankers, ports, operating pipelines how is ISIS going to move the oil? Certainly they have temporarily taken refineries, but this suggests wanting to fuel their own military effort within the region. At best ISIS has the capacity to disrupt the production of oil sales for the Iraqi Government, but with US-led airstrikes in full swing, and the oil production infrastructure (held by ISIS) well-known and very easily targeted, any hold ISIS has on Iraqi oil will be temporary.

Posted by Incredulous 2014-10-28 05:59|| 2014-10-28 05:59|| Front Page Top

#2 Under Secretary for Terrorism and Financial Intelligence David Cohen would be including the Turkish and other middlemen cut in his figure. Plus much of the oil sold and used locally, and in Syria where prices would be very high. Furthermore, I believe that fuel is expensive in Turkey due to high taxation.

Posted by BernardZ 2014-10-28 06:19|| 2014-10-28 06:19|| Front Page Top

#3 Bear in mind that normal income figures from oil fields are an accounting exercise, with amortized drilling and production costs deducted.
Whereas ISIS has no investment, which makes every dime's worth they sell a profit.
(The magic word here is 'stranded costs'.)

Posted by ed in texas 2014-10-28 08:03|| 2014-10-28 08:03|| Front Page Top

#4 I found this article here http://www.businessinsider.com.au/r-islamic-state-keeps-up-syrian-oil-flow-despite-us-led-strikes-2014-10 that has some interesting comments raised here.

Note this point
"A large trailer carrying 30,000 litres of Islamic State-supplied crude can make $US4,000 profit in just one journey lasting a few days, traders say."

30,000 litres is 251 barrels conflicting with point 5

Posted by BernardZ 2014-10-28 09:18|| 2014-10-28 09:18|| Front Page Top

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