(Eqtsad)- Islamic State forces announced an auction to rent the Shaer gas field in the eastern countryside of Homs, activists said as the radical group fears the U.S.-led Coalition air strikes and seeks a rapid cash.
Activist Judet al-Jiran said ISIS has resembled what is popularly known as “newly moneyed,” looking for financial resources that turn a quick profit. Their searches led them to the oil wells which are a finite resource.
Their desire for financial gain made the Islamic State focus most of its battles around the areas with oil wells including Jazal, al-Tnif, and Shaer oil and fields, other than its battles in other fuel rich parts of Syria.
Al-Jiran indicated that the Islamic State, “Started exploiting these wells in a greedy, unspecialized, and irresponsible manner with the aim of selling the most barrels of fuel possible. With the increasing demands for this substance primitive refineries appeared, especially in recent periods, in the countryside in areas under its. These refineries produce petrol derivatives such as benzene, diesel, kerosene, and grease from fuel material.”
Local residents reported that the Islamic State forces in the Homs plain have appointed Emirs for each oil area who are tasked with supervising the sale of fuel to refinery owners. Payment is in “cash” and only in US dollars. But Al-Jiran clarified that this was prior to the Coalition airstrikes targeting the oil wells. The Coalition targeted the oil fields, because they are important financial resources for the Islamic State.
Some of the wells are threatened with drying out due to the excessive and under studied extraction. Al-Jiran pointed out, “Oil wells require a halt in extraction from time to time for the wells to compensate what was lost, but with the excessive consumption and without halting, this has led to some oil wells almost drying out which is something the Islamic State did not account for.
They resorted to hosting a public auction to rent out the wells to fuel traders for periods of time that vary between one month and three months for fear the Coalition will bomb them. They are working to protect the wells from bombing by placing civilians there. At the same time, they will make some quick profits to ease their financial pressures and protect their fighters from the Coalition forces targeting them.”
Activists reported in 2016, that the Islamic State was selling oil to fuel traders who work with the regime and traders from other countries especially from the Jordanian and Iraqi plains. The foreign traders who took advantage of the low price of a barrel of Syrian fuel in comparison to international prices.
Al-Jiran recounted how one fuel trader from Homs plain rented one of the wells for a month, but he was surprised that the well had low productivity in comparison with its previous production rates. When he discussed the issue with the Emir responsible for that oil well, the Emir threatened him with imprisonment, whipping, and a fine because he was not content with his earnings, and this is a sin that requires punishment.
The regime and the Islamic State have exchanged control of the oil and gas fields in the Syrian plain east of Homs city more than once since 2015. The most recent exchange was in recent days when the Islamic State forces managed to regain control of the Jazal, Shaer and Hajjar fields, the al-Maher company and al-Hayyan company.
The Islamic State subsequently burnt down the al-Hayyan company in recent days.
These fields are considered the most important fuel and gas fields for the Syrian regime since they are its last fuel strongholds. The regime depends on these fields due to their proximity to the refineries in Homs and Banyas and the ease of refining the raw fuel from them. These fields previously pumped 10,000 barrels daily providing the regime treasury with around 10,000 US dollars on a daily basis.
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