ISIS may ultimately be defeated in Iraq, at least in conventional military terms. But stability is likely to prove elusive: international oil firms active in the country face a rocky ride for many years to come, with firms operating along the KRG/federal Iraq ‘border’ facing an increased security risk.

The speed with which Jihadists from the Islamic State of Iraq and Greater Syria (ISIS) in June captured the key northern Iraqi city of Mosul took many by surprise. ISIS has since solidified its grip over large Sunni-majority swathes of northern and western Iraq; it was already well-established in neighboring Syria. (CONTINUED - 2951 WORDS)