Iran discovers new oil field with 50 billion barrels of crude

Africa Nigeria

All eyes on Iran’s Rouhani at second day of UN General Assembly

Iranian President, Hassan Rouhani

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

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

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

“I am telling the particular White House that in the days when you sanctioned the sale of Iranian oil, typically the country’s workers and engineers were able to discover 53 billion barrels of oil, ” Rouhani said.

“This is a small gift by this government in order to the people of Serbia. ”

The field could become Iran’s second-largest essential oil field, behind Ahvaz with 65 billion dollars barrels associated with crude.

The particular announcement comes days after Iran introduced it might begin enriching uranium, marking another breach of the 2015 nuclear deal, Deutsche Welle reported.

The Islamic Republic is under crushing US sanctions targeting the energy sector and more specifically preventing Iranian oil through reaching international markets.

In the wake of often the 2015 nuclear deal, Iranian oil had once again become a major source regarding revenue for the country. US President Donald Trump’s decision to be able to withdraw from the deal and later sanction Iranian oil has put Tehran under pressure to find fresh solutions.

European signatories for you to the offer have been trying to save it coming from collapsing, but Iran’s decision to move forward with uranium enrichment last week offers further undermined those efforts.

Vanguard News Nigeria.

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