Daesh’s loss of ‘at least three large oil fields’ in Iraq has deprived the militant group of a vital source of income, according to a German newspaper report. In its Thursday edition, the Sueddeutsche Zeitung said that the extremist group now controls only one oil field, citing the BND federal intelligence services.
Following Daesh’s expulsion from the strategic northern city of Tikrit by Iraqi forces over a week ago, the jihadists now have only "five percent" of the extraction capabilities they had before, according to the BND report seen by Sueddeutsche Zeitung.
Satellite images from last month showed the group had set fire to the Himrin and Ajil fields -- in the face of the advancing counteroffensive. The loss of the oil fields suggest that "In the eyes of the BND, that is proof that IS itself does not believe in a quick recapture (of lost territory)," the newspaper said.
Qayara, the remaining Daesh-controlled oil field, has a total output capacity of approximately 2,000 barrels a day, according to the German intelligence services. The report also suggested that Daesh lacked the technical expertise to fully exploit the remaining oil fields in their control, including those in Syria.
Details of the jihadist group's finances are unclear, but Daesh also depends on smuggling of antiques, taxes, and ransom demands to boost its revenues. The loss of the oil fields cuts off a significant source of income, AFP reports.
