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Iraq's Oil Minister Announces an Increase of 153 Million Barrels in Oil Reserves

In a statement, he pointed that the explorations in 7 oilfields in mid and south Iraq contributed in adding 10 billion barrels to Iraqi oil reserves

Baghdad/ Iraq TradeLink: Iraqi oil minister Jabbar ala-Li'aibi disclosed the increase in Iraqi oil reserves to reach 153 billion barrels.

In a statement, he pointed that the explorations in 7 oilfields in mid and south Iraq contributed in adding 10 billion barrels to Iraqi oil reserves.

Iraq depends more than 90% on oil exports for its national budget.

He added that Iraq will ask OPEC organization to endorse this figure with more to be increased in the near future due to additional explorations

Source: iraq TradeLink

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