Skip to main content

Who is making money from syrian oil fields

who is making money from syrian oil fields

Russia has accused Turkey and its president, Recep Tayyip Erdogan, of colluding with the militant group Islamic State in an industrial-scale, illegal oil trade. But to what extent can Islamic State leaders operate the oil fields and get the product to market? It also took the Tanak, Jafra and Ward oil fields. Islamic State militants continue to engage in a war of attrition with pro-government forces to take the Shaer gas field and the Jazal oil field in desert areas of eastern Homs province. Oil and gas production, however, is nowhere near prewar levels. They are operated mostly by civilians unaffiliated with Islamic State. They take the crude directly from the wellhead, refine it and sell the inferior product on black markets. They are typically local people whose prior livelihoods were destroyed by the fighting. Much of the oil never reaches external markets and is used for domestic consumption in Islamic State-controlled territories or sold to other rebel factions and the Syrian government. However, there have been reports that some oil from Islamic State-held territory in Syria and Iraq has made its way to Jordan and Turkey. Coalition forces recently launched Operation Tidal Wave II, meant to ramp up attacks against oil fields and tankers — targets that had been off limits to avoid civilian casualties. The Pentagon said it had destroyed more than oil tankers in Islamic State areas in the last two weeks of November. Since Russia began bombing, Russian defense officials say, that number has been halved.

Site Index

Secretary of Defense Mark Esper said Thursday that an unspecified number of American troops and materiel are being sent to defend oil fields in eastern Syria held by Kurdish forces. They were key U. From the Kurdish forces to the Syrian government, the oil fields are vital to actors within Syria, experts say. Targeting the oil fields helped the U. Late in the fighting, ISIS forces destroyed much of the oil infrastructure. But Kurdish forces have since been able to repair some of the damage, says Dareen Khalifa, the senior Syria analyst for International Crisis Group, another think tank. Revenue from the fields has helped support the Kurdish forces in the area, who use the money to pay fighters and civil servants. In a statement, the SDF called the U. Others say the move destabilized the region more broadly, in part by triggering a humanitarian crisis that has displaced hundreds of thousands of people. Some say the American pullout could result in the reemergence of ISIS, which has lost all of its territory in the region. But with the Kurdish forces now pivoting to defend themselves from Turkey, they have fewer resources with which to mind the prisons. If and when ISIS regroups, it may target the oil fields that proved so lucrative in the past. Ibrahim Al-Assil, a scholar at the non-partisan think tank The Middle East Institute, says ISIS lacks the military capability to retake the fields, but says it might have the strength to do so in the future.

Choose your subscription

Sign in. Accessibility help Skip to navigation Skip to content Skip to footer. Choose your subscription. Not sure which package to choose? Try full access for 4 weeks. For 4 weeks receive unlimited Premium digital access to the FT’s trusted, award-winning business news. Premium Digital. Team or Enterprise. Premium FT. Pay based on use. Group Subscription. All the benefits of Premium Digital plus: Convenient access for groups of users Integration with third party platforms and CRM systems Usage based pricing and volume discounts for multiple users Subscription management tools and usage reporting SAML-based single sign on SSO Dedicated account and customer success teams. Learn more and compare subscriptions. Or, if you are already a subscriber Sign in. Close drawer menu Financial Times International Edition. Search the FT Search. World Show more World.

Why are Syria’s oil fields important?

Except there is no sign of IS getting reconstituted or rising from the ashes — and the Ie rightly regard any US attempt to seize the oil fields as theft and syriaan.

Pirate, thief, you realDonaldTrump Give Syria its oil back and release your economic sanctions on the women and children of Syria. Ironically, Trump has boasted recently about his administration making the US into a net pil of oil and gas, so it does not need the Syrian oil. The oil fields in question were traditionally used to meet domestic demands and are too small to be interesting to Washington in terms of profit, journalist and orientalist Andrey Ontikov told RT.

This phrasing is a dead giveaway that the oil gambit is not about IS, but about blocking the government in Damascus from using its own natural resources to rebuild. Already under a blockade by the US and its EU allies, Syria desperately needs the oil to help its people survive the winter. Critics of the purported plan point out that its illegal. So was the US presence in Syria, mind you — and their transit through Iraq as well, according to Baghdad, or the invasion, or… well a number of other msking, too long to get into.

Illegality has never stopped Washington, convinced as it is of American exceptionalism. Yes, the oil gambit would be a crime — but worse than that, it would be fieldw mistake. The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT. This website uses cookies. Read RT Privacy policy to find out. Applications RSS. RT Shop. RT Question. Home Op-ed. Nebojsa Malic. Get short URL. Follow RT oill. Also on rt. Trends: Donald Trump news Oil news Syria news.

Media News. The paradox of Syria: What to expect next from key players. Where to syrina. OPCW put lid on key evidence in Douma chemical incident — watchdog whistleblower. Pence blasts US corporations for bowing to China — says they should bow to Washington instead. RT News App. All rights reserved. Accept cookies.

The petroleum industry in Syria forms a major part of the economy of Syria. Syria is a relatively small oil producer, that accounted for just 0. Syria’s oil sector has been hit by the Civil War and international sanctions imposed on Syria. Total suspended operations in the country from December Syria is the only significant crude oil producing country oio the Eastern Mediterranean region, which includes JordanLebanonIsrael fiekds the Palestinian territories. InMakking produced 5. Although Syria produces relatively modest quantities of oil and gas, its location is strategic in terms of regional security and prospective trom transit routes. Syrian oil exploration first began in during the French Mandate by the Iraq Petroleum Company a consortium made up of ShellBPExxon-MobilTotaland Gulbekianwhich after unsuccessfully drilling eleven wells, gave up hope of finding any oil in Syria. InJames W. Menhallan independent oil producer from ,oney, United States, was approached by Syrian President Shukri al-Quwatli to come to Syria to prospect for oil. His James W. Menhall Drilling Company was awarded a concession on 17 May by unanimous vote of the Syrian parliament and started drilling in April The Syrian Civil War broke out in and is ongoing. Quality of Petroleum determined price of each barrel sold at the wellhead 25 to 45 dollars. Besides the Civil War and the imposition of international sanctions, Syria’s oil sector faces a number of challenges, including a decline in output and production resulting from technological problems and a depletion of oil reserves. Meanwhile, consumption mohey rising, which means that Syria could become a net oil importer within a decade. SPC has undertaken efforts to reverse the trend toward declining oil production and exports by increasing oil exploration and production in partnership with foreign oil companies. Foreign investment is vital for ool production levels; however, following the outbreak of the Syrian Civil War, many countries important to Syria’s oil exports have imposed sanctions, which legally prevents Western companies from working in the country. Al-Furat Petroleum Company is a joint venture established in Total formed its Syrian operation in and in renewed its partnership sharing agreement with Syria.

Comments

Popular posts from this blog

101 ways to make money in africa

Enter your mobile number or email address below and we’ll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer — no Kindle device required. To get the free app, enter your mobile phone number. Would you like to tell us about a lower price? Learn how to Find The Best Investment Opportunities makf Business Ideas That Work in Africa ‘ Ways To Make Money In Africa’ is the most detailed compilation of business ideas, on-the-ground facts, market intelligence, tips and advice for anyone who’s looking to start a business or invest in Africa. We wrote this book to show you the unbelievable business opportunities that exist in Africa and the amazing success stories that prove their viability and profitability. We wrote this book to spark your brain with innovative ideas that will make you money in Africa. If monfy looking for a rich source of big and small business ideas that work in Africa, this is the book you’ve been

How to make money on earnings reports

Earnings season is one of the most anticipated points during the financial year for the market. It refers to the months when quarterly reports are released—generally in January, April, July, and October. And with the hype of the season comes a slew of analyst expectations, forecasts, and results that beat or miss those expert analyses. Analysts use forecasting models, guidanceand other fundamentals in order to come up with an earnings per share EPS estimate. The market uses these estimates to determine how a company will perform when the earnings are released. For better or for worse, companies are judged by their ability to beat market expectations—all eyes are on whether companies «hit their numbers. Knowing the importance of those estimates can help investors manage through quarterly earnings results. But keep in mind, these are estimates, so they may never be consistent from one analyst to. That’s because one analyst may use different metrics to come up with his estimates compared

How much money did muhammad ali make a year

Muhammad Ali was a local legend in southwest MI. He owned an 85 Acre estate on just under a mile of the St. Joseph river. I currently live about 7 miles from the Ali home. When I was a kid, I think I may have been in first grade, maybe second, aroundMuhammad Ali came to our school during a large assembly for the yesr of the new gym that was built for tear school district. He talked and joked around with the kids and signed a couple boxing gloves that were given out to a student who won them in a drawing.