Iran discovers new oil field with 50 billion barrels of crude

Iran discovers new oil field with 50 billion barrels of crude

Iran, one of the largest oil-producing nation in the world has announced Sunday it has discovered a new oil field in its Khuzestan province.

The announcement was made by the country’s President, Hassan Rouhani as he revealed the new oil field is capable of producing more than 50 billion barrels of crude oil.

According to the Iran’s president, Rouhani, the estimated crude oil production from the new field would boost the country’s proven reserves by a third.

Continue reading Iran discovers new oil field with 50 billion barrels of crude at Vanguard News.

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