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Iran has risen to 1548 billion barrels of proven crude oil reserves

Date: 2015-07-23
Views: 174

Iranian Oil Minister Luo Sita Mujia Sammy announced on November 1, Iran has proven recoverable crude oil reserves rose to 1548 billion barrels.

 According to Iran's Press TV reported that Jia Semi day in Tehran Oil and Gas International Conference on Technology and Innovation, said: "As the discovery of new oil fields in the country, Iran has proven recoverable crude oil reserves increased to 1548 billion barrels." Last year, 10 month, former Iranian oil minister announced that Iran has risen to 1503 billion barrels of proven oil reserves, ranking over Iraq, re-ranking second in the world.

 Oil-rich Iran is the world's fourth largest oil producer and OPEC's second-largest oil exporter. Oil is Iran's economic lifeline and a major source of foreign exchange earnings, oil revenues accounted for 85% of foreign exchange earnings. Iran, the world's second largest gas reserves after Russia. However, due to the long suffering sanctions, Iran's refining capacity is low.

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