Iran to notify OPEC of increased oil reserves in late 2010

Bloomberg: Iran will notify the Organization of Petroleum Exporting Countries Secretariat of a rise in its oil reserves toward the end of this year, said Iran’s OPEC Governor Mohammad Ali Khatibi.

By Ladane Nasseri

Oct. 25 (Bloomberg) — Iran will notify the Organization of Petroleum Exporting Countries Secretariat of a rise in its oil reserves toward the end of this year, said Iran’s OPEC Governor Mohammad Ali Khatibi.

Iran’s proven oil reserves have reached 150.31 billion barrels, Oil Minister Masoud Mir-Kazemi said Oct. 11.

The figure was announced after Iran reviewed its newly found oil fields and studied secondary reserves and is official, Khatibi said in a report published today on the Oil Ministry’s news website, Shana.

Iran’s reserves previously stood at 136.6 billion barrels, according to BP Plc’s Statistical Review of World Energy.