Iran raises oil reserves to overtake Iraq

13 October 2010

Iran’s oil minister says oil reserves are 150.31 billion barrels

Iran’s oil minister, Massoud Mirkazemi has raised the country’s oil reserves to 150.31 billion barrels of reserves, from a previous estimate of 138 billion barrels, Reuters has reported. The announcement would put Iran back in third place in the world after Iraq raised its proven oil reserves figure last week by a quarter to 143 billion barrels.

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