Iran News: Large amounts of oil reserves in Iran

Credit: The Fuse

A huge oil reserve has been found in Iran. It is estimated that the oil reserves are 53 billion barrels. This was announced by Iranian President Hassan Rouhani. 

This is good news for Iran facing four-sided economic sanctions. That being said, this has been a major turning point for Iran's economy over the past decade.
The oil spill covers 2,400 square kilometers of southwestern Iran. According to the Iranian president, the territory is located in the province of Khuzestan, Iran. It will now be the second largest oil field after Iran's Ahwaz oil field with 65 barrels.
Credit: Sky News
A huge oil reserve has been found in Iran. It is estimated that the oil reserves are 53 billion barrels. This was announced by Iranian President Hassan Rouhani. This is good news for Iran facing four-sided economic sanctions. That being said, this has been a major turning point for Iran's economy over the past decade.

The oil spill covers 2,400 square kilometers of southwestern Iran. According to the Iranian president, the territory is located in the province of Khuzestan, Iran. It will now be the second largest oil field after Iran's Ahwaz oil field with 65 barrels.

Iran has been the founding country of the Organization of the Oil Exporting Countries, the Organization of the Petroleum Exporting Countries. Iran currently has a total certified oil reserves of 155.6 billion barrels. Iran's total oil reserves have increased 34 percent since the new discovery. According to the US Information Energy Administration, Iran is the fourth largest oil reserve in the world and the second largest gas reserves in the world.
Credit: The Energy Consulting Group
Last month, Iran announced that a new discovery of natural gas would add $ 40 billion to its revenue. Rouhani has said that with these discoveries, Iran will have the third largest oil reserves in the world.

Announcing these new stores, Rouhani also attacked the United States. According to the news agency AFP, Rouhani said, "We want to tell the United States that we are a rich country and despite rigorous sanctions against your hostility, Iran's oil industry workers and engineers have discovered a new oil field." '