The country's deputy oil minister says 500,000 more barrels of oil per day will be produced.
The blue-chip FTSE 100 index .FTSE was down 2 percent at 5,841.60 points in early trading—its lowest intraday level since late August 2015.
The militant group released five videos only days after an Islamic task force was announced.
The measure is part of a deal wrapped to keep the U.S. government open through September.
Islamic State militants have made more than $500 million from black market oil sales.
Strikes against the group in Iraq and Syria are squeezing their vital revenue stream, new report says.
Crude oil futures tumbled 6 percent on Monday, reaching their lowest in nearly seven years.
Erdoğan has called claims that Turkey buys oil from Islamic State "slander."
The decision is expected to lead to the project's rejection by the Obama administration.
A delay would almost certainly hand the decision for the $8 billion project to a future president.
The last time energy was this cheap, Eisenhower was president.
Most of the Arctic isn't up for dispute. But the little that is will take years, even decades, to resolve.
"The Arctic is a unique treasure," Clinton tweeted. "Given what we know, it's not worth the risk of drilling."
The final permit came after the company repaired a ship essential to its exploration in the region this season.
A U.S. and EU oil embargo would cripple Russia overnight as it relies largely on pipelines to the West.
Seventeen wells have been left with temporary seals since the 1960s.
American taxpayers are not receiving a fair return from the development of their valuable resources.
Iraq's oil minister announced the formation of a defensive unit to protect oil reserves and infrastructure from the militant group.
Arab oil ministers meeting in Vienna on June 5 must confront the devastating consequences of the war in their midst.
Authorities estimate 105,000 gallons of oil have spilled.
The oilman was "very upset" by some of the research being done by state seismologists.
The incoming president is to launch probe into corruption claims of former governor of Central Bank.
Analysts warn that as the group lose control of oil fields, they'll make money in other ways.