Home / International / World Tools: Save | Print | E-mail | Most Read | Comment
Iran discovers new billion barrel oil field
Adjust font size:

Iranian Oil Minister Gholam Hossein Nozari said on Sunday that Iran has discovered a new oil field in the southwest province of Khuzestan with in-place reserves of 1.1 billion barrels.

The field, which is located near Andimeshk in Khuzestan, holds an estimated reserve of 233 million barrels of recoverable crude oil, state television quoted Nozari as saying.

The oil discovered in the new field is light crude with an API gravity of 33 degrees, the Iranian oil minister said.

Commenting on current status of the oil market, he said the situation is good and there is no shortage on the market.

Iran is the fourth-largest oil producer in the world and ranks second in output among the Organization of Petroleum Exporting Countries (OPEC) members.

Iranian officials have said that the country's oil reserves were estimated at more than 130 billion barrels, about 12 percent of global reserves.

(Xinhua News Agency July 14, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Iran vows to fight back against attacks
- US not to drop diplomatic approach over Iran nuke issue
- Tensions mount in Mideast as Iran test-fires missiles
- Iran tests more missiles in Gulf
- Iran's missile capacity only for defensive purposes: DM
- Iran to hit Tel Aviv and US fleet in Gulf if attacked
- Iran bans celebrities from appearing in ads
Most Viewed >>
- British experts call for balanced views on China
- Mechanism to be set up on nuclear verification
- China, Mexico establish strategic dialogue mechanism
- Dialogue 'the only correct path' on Zimbabwe issue
- Report:Clinton on Obama's VP potential list
> Korean Nuclear Talks
> Reconstruction of Iraq
> Middle East Peace Process
> Iran Nuclear Issue
> 6th SCO Summit Meeting
Links
- China Development Gateway
- Foreign Ministry
- Network of East Asian Think-Tanks
- China-EU Association
- China-Africa Business Council
- China Foreign Affairs University
- University of International Relations
- Institute of World Economics & Politics
- Institute of Russian, East European & Central Asian Studies
- Institute of West Asian & African Studies
- Institute of Latin American Studies
- Institute of Asia-Pacific Studies
- Institute of Japanese Studies