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FINANCIAL NEWS
Iraq increases oil reserves to 153 bln barrrels
20 Feb 2017
(MENAFN) Iraqi Oil Minister Jabar al-Luaibi stated that Iraq’s oil reserves have increased to 153 billion barrels after previous estimate of 143 billion barrels.
Also he said that Iraq will ask the Organization of the Petroleum Exporting Countries to adopt the new figure as the official estimate for its reserves.
Moreover, Iraq is developing oil reserves with the help of foreign investments and companies, to make up for three and a half decades of conflict and international sanctions, starting with the 1980-1988 war against Iran.
MENAFN2002201700450000ID1095255901
MENAFN2002201700450000ID1095255901
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