US hits IS Oil Targets in Syria

The US-led coalition against Islamic State (IS) has targeted 12 oil refineries in Syria on a third night of air strikes against the militants.

Raids carried out by US, Saudi and UAE aircraft killed 14 of the group's fighters and five civilians in eastern Syria, activists said.

According to the Pentagon, the refineries generated up to $2m (£1.2m) per day in revenue for the militants.

In northern Syria, Kurdish forces say they have pushed back an IS advance.

US President Barack Obama has vowed to dismantle the IS "network of death".

Islamic State (IS) oil production

IS is believed to control six out of 10 of Syria's oil fields, including the Omar facility, and four small fields in Iraq, including Ajeel and Hamreen
    
Production in Syria is estimated at 50,000 barrels per day and 30,000 in Iraq, generating revenue of between $1m (£600,000) and $5m per day
    
Oil is sold to local merchants, or to middlemen who smuggle it into Iraqi Kurdistan or over borders with Turkey, Iran and Jordan, and then sell to traders in a grey market. Oil is also sold to the Syrian government
    
Seizures of smuggled fuel in Turkey rose from 35,260 tons in 2011 to more than 50,000 tons in the first six months of 2014, before the Turkish authorities began to crack down on illegal trade

BBC