Iraq Lifts Oil Reserves Estimate, Overtakes Iran
This article is for subscribers only.
Iraq raised its estimate of national crude oil reserves to 143.1 billion barrels, Oil Minister Hussain Al-Shahristani said today, overtaking Iran as home to the world’s fourth-largest petroleum deposits.
The 24 percent increase in estimated reserves lifts Iraq past neighboring Iran, which has 137.6 billion barrels, while leaving it behind Saudi Arabia, Canada and Venezuela. Iraq last estimated its oil reserves at 115 billion barrels, in 2001.