Iraq: Inside Islamic State’s Oil Empire: How Captured Oilfields Fuel Isis Insurgency

Nov 19, 2014 | Fazel Hawramy, Shalaw Mohammed and Luke Harding, The Guardian
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Islamic State has consolidated its grip on oil supplies in Iraq and now presides over a sophisticated smuggling empire with illegal exports going to Turkey, Jordan and Iran, according to smugglers and Iraqi officials.

Six months after it grabbed vast swaths of territory, the radical militant group is earning millions of dollars a week from its Iraqi oil operations, the US says. Coalition air strikes against tankers and refineries controlled by Isis have merely dented – rather than halted – these exports, it adds.