Islamic State Oil Revenues

With its refineries mostly destroyed and its tanker fleet under constant attack, the Islamic State is increasingly turning to low-tech alternatives for processing oil, a vital source of revenue for the terrorist group, new satellite images reveal.

Islamic State has cut its fighters' salaries by 50 percent in Syria as air strikes continue to target oil fields, supply lines and cash stores, affecting its revenue streams, The Independent reported.

ISIS terrorists have looted up to $1 billion from bank vaults in Syria and Iraq and has made at least another half a billion dollars from black market oil sales, senior US Treasury official Adam Szubin said on Thursday.

The Islamic State group has lost control of "at least three large oil fields" in Iraq, depriving the jihadists of a crucial source of income, a German newspaper report said Thursday.

US air strikes are beginning to choke off the flow of oil revenues to Islamic militants, cutting their income by several million dollars a week, a top US official said Thursday.

As one nation after another has battled uprisings across the Arab world, the one major country spared is also its richest -- Saudi Arabia, where a fresh infusion of money has so far bought order. The kingdom is spending $130 billion to pump up salaries, build housing and finance religious organizations, among other outlays, effectively neutralizing...

With its refineries mostly destroyed and its tanker fleet under constant attack, the Islamic State is increasingly turning to low-tech alternatives for processing oil, a vital source of revenue for the terrorist group, new satellite images reveal.

Islamic State has cut its fighters' salaries by 50 percent in Syria as air strikes continue to target oil fields, supply lines and cash stores, affecting its revenue streams, The Independent reported.

ISIS terrorists have looted up to $1 billion from bank vaults in Syria and Iraq and has made at least another half a billion dollars from black market oil sales, senior US Treasury official Adam Szubin said on Thursday.

The Islamic State group has lost control of "at least three large oil fields" in Iraq, depriving the jihadists of a crucial source of income, a German newspaper report said Thursday.

US air strikes are beginning to choke off the flow of oil revenues to Islamic militants, cutting their income by several million dollars a week, a top US official said Thursday.

As one nation after another has battled uprisings across the Arab world, the one major country spared is also its richest -- Saudi Arabia, where a fresh infusion of money has so far bought order. The kingdom is spending $130 billion to pump up salaries, build housing and finance religious organizations, among other outlays, effectively neutralizing...