Iran boasted Monday that its proven oil reserves have risen by 9% to 150.31 billion barrels, partly driven by new discoveries.
Iran
boasted Monday that its proven oil reserves have risen by 9% to 150.31 billion
barrels, partly driven by new discoveries.
"Our oil reserves are today at 150.31 billion barrels," Oil Minister
Masoud Mirkazemi told a news conference, compared with the previous figure of
138.0 billion barrels.
"Our calculations are still ongoing. This figure is from a six months
report based on production information and new discoveries," Mirkazemi
said.
The announcement comes a week after neighboring
Iraq
said
it had overtaken
Tehran
in
terms of size of oil reserves.
On Oct. 4,
Iraq
reported its proven oil reserves were now 143.1 billion barrels representing a
24% increase over the old level of 115 billion barrels.
Iran
is
the Organization of Petroleum Exporting Countries' second-largest member,
behind
Saudi Arabia
.
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