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Iran's president: New oil field found with over 50B barrels


Added 11-10-19 07:04:01am EST - “It could boost the country's proven reserves by a third as it struggles under U.S. sanctions.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Iran's president: New oil field found with over 50B barrels”. Below is an excerpt from the article.

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Peter Brookes from the Heritage Foundation and former deputy assistant ecretary of defense under President George W. Bush gives his thoughts on Iran as a nuclear power.

TEHRAN, Iran (AP) — Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude, its president said Sunday, a find that could boost the country's proven reserves by a third as it struggles to sell energy abroad over U.S. sanctions.

The announcement by Hassan Rouhani comes as Iran faces crushing American sanctions after the U.S. pulled out of its nuclear deal with world powers last year.

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