Iran's leader says a newly discovered oil field contains some 53 billion barrels that would be added to its known reserves of roughly 150 billion.
Iran has discovered a new oil field in the country’s south with more than 50 billion barrels of crude, its president said Sunday, a find that could boost the country’s proven reserves by a third as it struggles to sell energy abroad over U.S. sanctions.
Rouhani made the announcement in a speech in the desert city of Yazd. He said the field was in Iran’s southern Khuzestan province, home to its crucial oil industry.Advertisement Oil reserves refer to crude that’s economically feasible to extract. Figures can vary wildly by country because of differing standards, though it remains a yardstick of comparison among oil-producing nations.
The new oil field could become Iran’s second-largest field after one containing 65 billion barrels in Ahvaz. The field is 925 square miles, with the deposit some 80,260 feet deep, Rouhani said.Since the U.S. withdrew from the 2015 nuclear deal, the other countries involved — Germany, France, Britain, Russia and China — have been struggling to save it. However, they’ve offered no means by which Iran can sell its oil abroad.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Iran finds new oil field with 53 billion barrels of crude - RouhaniIran has discovered a new oilfield with 53 billion barrels of oil in the southwe...
Read more »
Iran has discovered an oil field with an estimated 53 billion barrels of crude, Rouhani saysA vast oil field containing an estimated 53 billion barrels of crude oil has been discovered in Iran, President Hassan Rouhani announced Sunday, a find that could boost the country's battered economy amid stringent US sanctions.
Read more »
Iran says finds new oilfield with 53 billion barrels of crudeIran has discovered a new oilfield in the southwest of the country that has the ...
Read more »
Iran announces discovery of massive oil fieldIran has discovered a massive new oil field, President Hassan Rouhani said Sunday, a find that would boost its proven reserves by about a third in a rare piece of "good news" for an economy battered by US sanctions. In a speech aired on state TV, Rouhani said the country&39;s economy had stabilised
Read more »
Iran discovers new oil field with over 50 billion barrelsIran's president says a new oil field has been discovered in the country's south with over 50 billion barrels of crude.
Read more »
Iran calls ex-FBI agent's case a 'missing person' fileIran's Foreign Ministry spokesman says an open Revolutionary Court case involving an ex-FBI agent who disappeared there in 2007 on an unauthorized CIA mission does not involved criminal charges against him.
Read more »