Iran General NewsIran claims new oil field discovery

Iran claims new oil field discovery

-

UPI: Iran made an oil field discovery that will add to its recoverable reserve estimate of more than 150 million barrels, an official said. TEHRAN, Feb. 13 (UPI) — Iran made an oil field discovery that will add to its recoverable reserve estimate of more than 150 million barrels, an official said.

Mahmoud Mohaddes, director of exploration for the National Iranian Oil Co., said there were “considerable” reserves available in a newly discovered oil field, Iran’s state-funded broadcaster Press TV reports.

While he was short on specifics, he said more information on oil developments would surface before the end of the Iranian year in March.

The country’s oil minister said recoverable reserves stand at around 154 billion barrels. Sanctions pressure on Iran’s Central Bank has made it difficult for Tehran to process crude oil sales, however.

The European Union said it was placing an embargo on Iranian crude oil as punishment for Tehran’s nuclear program. Iranian lawmakers said they backed a measure that would pre-empt the European measure, which would go into effect starting in July.

Iran is one of the top oil producers in the Organization of the Petroleum Exporting Countries.

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Iraqi Interior Minister and Iran run 6 other torture chambers

Iran Focus: London, Nov. 19 – Iraqi Interior Minister...

Tehran Unofficially Increases the Price of Bread and Eggs

According to Iranian state media outlets, the price of...

You might also likeRELATED
Recommended to you