New oil field found with over 50 billion barrels: Iran’s president

New oil field found with over 50 billion barrels: Iran’s president

The announcement by Hassan Rouhani comes as Iran faces crushing American sanctions after the U.S. pulled from its nuclear deal with world powers this past year.

The statement was made by rouhani in a speech at the town of Yazd. He said the field was located in the southern province, home to its oil sector of Iran.

Some 53 billion barrels would be inserted to the proven reserves of approximately 150 billion of Iran, ” he said.

“I’m telling the White House that in today when you resisted the sale of Iranian oil and pressured our nation, the nation’s dear workers and engineers could find 53 billion barrels of oil in a big field,” Rouhani said.

Oil reservations refer to primitive that is economically feasible to extract. Figures can vary wildly because of differing standards, though it remains a yardstick of comparison one of oil-producing nations by state.

Iran has the world’s second-largest deposits of natural gas and also the world ‘s deposits of oil. It shares a Huge area in the Persian Gulf with Qatar.

The oil field can become the second-largest field of Iran after one containing 65 billion barrels in Ahvaz.

They’ve offered no means. Iran started using advanced centrifuges, in addition to since has gone beyond the stockpile and enrichment limitations of the deal. It only began injecting uranium gas.

The collapse of this nuclear bargain coincided with a stressed summer of mysterious attacks on oil tankers and Saudi oil facilities the U.S. blamed on Iran. Tehran denied the allegation, though it did seize oil tankers and take down a U.S. military surveillance drone.

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