Who Is Buying ISIL’s Oil?

{
  "authors": [
    "Carole Nakhle"
  ],
  "type": "legacyinthemedia",
  "centerAffiliationAll": "dc",
  "centers": [
    "Carnegie Endowment for International Peace",
    "Malcolm H. Kerr Carnegie Middle East Center"
  ],
  "collections": [],
  "englishNewsletterAll": "menaTransitions",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Malcolm H. Kerr Carnegie Middle East Center",
  "programAffiliation": "MEP",
  "programs": [
    "Middle East"
  ],
  "projects": [],
  "regions": [
    "Levant",
    "Syria",
    "Iraq",
    "Middle East"
  ],
  "topics": [
    "Political Reform",
    "Economy",
    "Security"
  ]
}

In The Media

Malcolm H. Kerr Carnegie Middle East Center

Who Is Buying ISIL’s Oil?

A multipronged approach is needed stop ISIS from profiting from the oil fields under its control.

By Carole Nakhle

Published on Nov 30, 2015

Source: Al Jazeera

Carnegie’s Carol Nakhle joined Al Jazeera’s Hazem Sika and others to discuss ISIS’s oil business. Nakhle argued that in addition to recruiting soldiers, ISIS has been hiring the technicians and engineers required to repair and maintain the oil producing equipment and infrastructure. Much of the oil produced in these fields remains in the captive market that is ISIS-controlled territory, and as such is not linked to global oil prices, she said. A multi-dimensional approach is required to stop ISIS from profiting from the oil fields under its control.

This interview was originally broadcast on Al Jazeera's Inside Story.

About the Author

Carole Nakhle

Former Nonresident Scholar, Middle East Center

Nakhle was a nonresident scholar at Carnegie Middle East Center, specializing in international petroleum contracts and fiscal regimes for the oil and gas industry, world oil and gas market developments, energy policy, and oil and gas revenue management.

Recent Work

Article
Nuclear Energy’s Future in the Middle East and North Africa
- Carole Nakhle
In The Media
ISIL Sells Its Oil, But Who Is Buying It?
- Carole Nakhle

Political Reform Economy Security Levant Syria Iraq Middle East

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

More Work from Carnegie Europe

Commentary
Strategic Europe
Why Russia Could Escalate Hybrid Warfare Against Europe
Mounting economic strain and battlefield losses will not necessarily make the Kremlin less dangerous. They could instead push Moscow toward a more aggressive hybrid campaign designed to test NATO’s Eastern flank, exploit allied hesitation, and fracture European resolve.
Maksym Beznosiuk
Commentary
Strategic Europe
Taking the Pulse: Enough with the Annual NATO Summits, Already?
Over the past ten years, NATO has held almost as many summits as it did during the entirety of the Cold War. Are they still useful, or is it time to stop holding annual meetings?
Rym Momtaz, ed.
Report
Europe from Scratch: Visions for a New European Order
As the EU confronts profound challenges, several leaders have called for fundamental reform to the union’s model—but only modest, superficial changes have resulted. What if Europe really could be reimagined from zero today: What should such a redesigned European order look like?
Richard Youngs, ed.
Commentary
How NATO Became Anchored in the Black Sea
As Russia's war on Ukraine drags on, NATO is expanding its footprint in the Black Sea. Turkey, Romania, and Bulgaria are upgrading their fleets and deepening trilateral cooperation.
Dimitar Bechev
Article
Managing Montreux: Turkey and the Russia-Ukraine War in the Black Sea
For ninety years, Turkey has been positioned as the principal gatekeeper of Black Sea security. As a result, European and NATO efforts to support Ukraine will require closer engagement with Ankara.
Thomas de Waal

More Work from Carnegie Europe

Commentary

Strategic Europe

Why Russia Could Escalate Hybrid Warfare Against Europe

Mounting economic strain and battlefield losses will not necessarily make the Kremlin less dangerous. They could instead push Moscow toward a more aggressive hybrid campaign designed to test NATO’s Eastern flank, exploit allied hesitation, and fracture European resolve.

Maksym Beznosiuk

Commentary

Strategic Europe

Taking the Pulse: Enough with the Annual NATO Summits, Already?

Over the past ten years, NATO has held almost as many summits as it did during the entirety of the Cold War. Are they still useful, or is it time to stop holding annual meetings?

Rym Momtaz, ed.

Report

Europe from Scratch: Visions for a New European Order

As the EU confronts profound challenges, several leaders have called for fundamental reform to the union’s model—but only modest, superficial changes have resulted. What if Europe really could be reimagined from zero today: What should such a redesigned European order look like?

Richard Youngs, ed.

Commentary

How NATO Became Anchored in the Black Sea

As Russia's war on Ukraine drags on, NATO is expanding its footprint in the Black Sea. Turkey, Romania, and Bulgaria are upgrading their fleets and deepening trilateral cooperation.

Dimitar Bechev

Turkey ship Istanbul Bosporus Straits Black Sea

Article

Managing Montreux: Turkey and the Russia-Ukraine War in the Black Sea

For ninety years, Turkey has been positioned as the principal gatekeeper of Black Sea security. As a result, European and NATO efforts to support Ukraine will require closer engagement with Ankara.

Thomas de Waal