Reuters reported that Islamic State fighters have captured the Jazal field in Syria from government forces, citing the Britain-based Syrian Observatory for Human Rights.

While a medium-sized field that had been shut due to long, protracted fighting in the central Syrian Homs area, this was the last major oilfield under Syrian government control.

According to CNBC officials estimated ISIS was earning up to $3m, a day, on the black market from its illicit oil sales.

Jazal is to the northwest of Palmyra, which recently fell to ISIS, and is proximate to Syria’s natural gas fields and energy facilities close to the border with Iraq.

Syria’s resource are being systematically bled by ISIS to fund the war effort in Iraq.