Iraq’s Al-Luaibi Revises Oil Reserves Up to 150 Billion Barrels
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Iraq has increased its own estimate for its crude reserves by almost 5 percent to 150 billion barrels, Oil Minister Abdul Kareem al-Luaibi said.
The government raised its figure from 143.1 billion barrels, Luaibi told reporters in Baghdad. “The increase comes from the Dima oil field and some new studies in some oil fields, and we will soon announce the details,” he said. Asim Jihad, the ministry’s spokesman, said on Jan. 21 that oil producers have discovered 1 billion barrels of light crude reserves at Dima in southern Iraq.