Iran president says new oil field found with over 50bn barrels

Dawn | Nov 10, 2019 at 2:22 PM
  • Iran has discovered a new oil field in the country’s south with over 50 billion barrels of crude oil, its president said on Sunday, a find that could boost the country’s proven reserves by a third as it struggles to sell energy abroad over United States sanctions.
  • Iran currently has the world’s fourth-largest proven deposits of crude oil and the world’s second-largest deposits of natural gas.
  • They’ve offered no means by which Iran can sell its oil abroad.