Follow the money

Norwegian Report Says Erdogan Lying About Turkey/ISIS Oil Deal

A newly-leaked report on illegal oil sales by Islamic State (IS, previously ISIS/ISIL), which was ordered to be compiled by Norway, has revealed that most of the IS-smuggled oil has been destined for Turkey, where it is sold off at bargain low prices.

Norwegian daily Klassekampen leaked details of the report, which was put together by Rystad Energy, an independent oil and gas consulting firm, at the request of the Norwegian Foreign Ministry.

“Large amounts of oil have been smuggled across the border to Turkey from IS-controlled areas in Syria and Iraq,”Klassekampen cited the report as saying. “[The] oil is sent by tankers via smuggling routes across the border [and] is sold at greatly reduced prices, from $25 to $45 a barrel.”

The crude is reportedly sold on the black market at greatly reduced prices, while the Brent benchmark is currently trading at $35-$50 per barrel.