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
Indian refiners prove their adaptability
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
Gas deal keeps Lebanon’s offshore hopes alive
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
Letter from Saudi Arabia: Big oil meets big shovel
Opinion
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
Turkey locks in more Azeri gas
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub

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