The media is saying ISIS is selling millions of dollars of oil on the black market but who's buying it?

It sounds simple at first but then the next question is how are they transporting millions of barrels of crude oil?

The only feasible ways I can imagine is through pipelines or by ocean tankers. If it is transported by sea where's the port where tankers fill up?

And then ...

What entity or country has the resources to refine black market crude oil?

None of this adds up to me but then again I'm totally ignorant about black market crude oil in the ME.

You listen to the media and believe them?

I have always taken that to mean that the countries that fund them, simply take over the oil fields, and sell the oil.



Travis

Always. They're experts.

Baa aaa aaa aaa.

I'm a good sheeple.

There's an issue with that.

The transfer of funds would require the use of banks. I watched a very good clip from a reporter who seemed to have knowledge of what's happening in Mosul. He commented that since the takeover of the banks and their hard assets (cash and gold) that this has collapsed the banking system. ISIS and the territory they control is a strictly cash economy.

If there is an efficient way of laundering money, I'm sure the countries that fund groups like ISIS are waaaaaay ahead of the curve.

I don't think defectors from Minneapolis high schools are selling 55 gallon drums of crude oil on the street corner like cartons of cigarettes.



Travis

Selling it to Turkey

Selling it to everyone. You think China gives a damn about the assclown's sanctions?

This, and they are paying in gold. Only the grossly ignorant believe that all banks would follow the "sanctions" imposed by our feckless leader.

A great deal of that oil does move by tanker. That could be stopped pretty damned quick by sinking a tanker or two at the terminal. Of course, then you have storage problems, which would lead to well shut downs, etc., which the oil companies don't want the expense and hassle of restarting the system, ad nauseum.

Ed

That brings up some more questions ... and no offense.

If, and I say if, ISIS is in control of pumping stations and refineries who is operating them?

What control do the oil companies still have?

Has ISIS turned the employees into slave labor?

Again, none of this makes sense. I can't imagine that anyone would have remained at the facilities if they knew ISIS was approaching. I would have abandoned ship, got in a vehicle, and hauled azz to get as far away as I could.

Like everyone else, they sell to the highest bidder.

No, just like the dam they took over. ISIS told the technicians they would continue to receive their checks as long as they kept the dam working and in good repair.

Reports are that the ISIS oil from northern Iraq and Syria is sold in Turkey for black market prices about half the current market rate or roughly $50 a barrel. Maybe $2 million a day.

From Turkey is where it reaches the world market.

The problem with ISIS , now called Islamic State, is that they want all the mid East oil just like Saddam Hussein. One oil field, one country at a time.

Here's another problem I have with the scenario that ISIS is selling black market oil in vast quantities.

It was only weeks ago (a little over a month) that ISIS captured the oil assets and just a few weeks later they're supposedly selling it on the black market.

How in just few weeks time could this realistically happen?

Who contacted who to make the arraignments?

I just can't imagine that it's that easy to phone the Chinese govt and especially the Turks and make a oil for gold deal.


I dunno. This whole thing seems far fetched and especially since there's been no conformation of any of it by any reputable source. A rumor was started and now it's become fact.

Maybe I'm wrong. It wouldn't be the first time.

If Steve_NO hadn't turned into a Democrat and stuck around he could tell us.

And keep their heads.

They fill a tanker, take it to sea and then offload to another tanker that takes it to port. There was a story just yesterday of a Kurdish tanker that disappeared off satellite and it was suspected that it had turned off the satellite tracking for a rendezvous.

They are selling to the highest bidder.

Military degradation of this little scheme shouldn't be too tough.

We turned a Kurdish tanker away Thursday... it's a lot like dealing with stolen cattle and trees.

Most of those tankers are leased. Just sink one of them and the leasing companies will reconsider their clientele.

Sounds a lot like the way FDR allowed nationalist forces in Spanish Civil War, to purchase fuel from Standard oil, but refused shipment from smaller companies under neutrality act to the Loyalist forces.

It's all about the money.

The black market oil that the Islamic State (ISIS) is moving north into Turkey is a very small drop in the world market. But it is enough to fund much of their revolution.
ISIS could care less about oil tankers.

Every crude oil has some unique things about it depending on the region and even in particular the area it comes from. How about this idea why not test oil tankers for Isis oil. If found the entire oil tanker and it's oil is seized

How about we help the Kurds get rid of ISIS?

Ummm......crude oil "barrels" are 42 gallons......and they're on nearly every street corner in Minnie's Apples I hear! (Selling like powder milk hotcakes too I'd bet.)

There are enough small "gypsy" tankers out there to move the oil and they are independently owned, not by any of the big oil companies. They don't care where the oil comes from, who it goes to, or any other details such as "sanctions". Their politics is money, plain and simple.

Ed

Fishhead, keep in mind ISIS is not effectively a Sovereign State in the area's it controls.....except, unlike here, they don't have any jails, just mass graves for those who don't obey.

This only matters if the receiving party GAS about the political situation, which China and a lot of third world countries don't.

Take a look at this Wikipedia link to the "Oil and Gas Journal" list of refineries in the world and see how many you can count that wouldn't grab cheap oil at the drop of a hat; LINK

Ed

This. Although I see "O" and company recognizing ISIS as a Sovereign State in the near future to "negotiate" with them.

Ed

Syrian Government may soon fall. Oobie won't even have to recognize ISIS, just "Greater Syria".

On the positive side, this can suck all the Islamofashist into a single sovereign state. One we can have a proper declares war with (under a different non-marxist president) AND KILL THEM ALL, AND THEIR PET GOATS.