Published On: Mon, Nov 11th, 2019

Iran news: Oil field with 50 BILLION barrels of crude found – Rouhani savagely mocks Trump | World | News


The stunning find is likely boost the country’s proven reserves by a third as it struggles to sell energy abroad amid US sanctions. The announcement by Hassan Rouhani comes as Iran faces crushing American sanctions after the US pulled out of its nuclear deal with world powers last year. President Rouhani made the announcement in a speech in the desert city of Yazd. stry.

He said the field was located in Iran’s southern Khuzestan province, home to its crucial oil indu

The leader of the rogue state said 50 billion barrels would be added to Iran’s proven reserves of some 150 billion.

Proven reserves are those that are commercially feasible to extract and represent a huge boost for the nation.

The new oil field could become Iran’s second-largest field after one containing 65 billion barrels in Ahvaz.

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

Iran currently has the world’s fourth-largest proven deposits of crude oil and the world’s second-largest deposits of natural gas. It shares a massive offshore field in the Persian Gulf with Qatar.

Since the US withdrew from the 2015 nuclear deal, the other countries involved – Britain, Germany, France, Russia and China – have been struggling to save it.

However, they have offered no means by which Iran can sell its oil abroad.

The collapse of the nuclear deal coincided with a tense summer of mysterious attacks on oil tankers and Saudi oil facilities that the US blamed on Iran. Tehran denied the allegations, though it did seize oil tankers and shoot down a US military surveillance drone.

It comes as Iran starts construction on a second nuclear reactor at its Busehr power plant.

The nation is celebrating the latest move at the plant which has increased the enrichment of uranium, allowing it to exceed strict levels under the nuclear deal of 2015.

“It was not us who started breaking commitments, it was them who did not keep to their commitments and cannot accept the nuclear deal as a one-way road map,” Ali Akbar Salehi, head of the Atomic Energy Organisation of Iran, said.

Bushehr is fuelled by uranium produced in Russia and is monitored by the United Nations’ International Atomic Energy Agency (IAEA).

But Iran began 4.5% enrichment in part to supply Bushehr despite the deal limiting it to 3.67%.

While this is still nowhere near weapons-grade levels of 90%, nonproliferation experts warn Iran’s growing stockpile and increasing enrichment will begin to shave off time from the estimated year Tehran would need to gather enough material for an atomic bomb.

Iran insist the enrichment is for peaceful purposes.



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