Middle East Economic Survey

VOL. LIV

No 17

25-Apr-2011

IRAN

NIOC Raises Iran Oil Reserves Estimate To 155Bn Barrels

National Iranian Oil Company (NIOC) Managing Director Ahmad Qalebani told reporters on 16 April that the company has raised its estimate of Iranian oil reserves to 155bn barrels. This increase follows last years raising by Iran of its oil reserves estimate to 150.3bn barrels from 137bn barrels (MEES, 18 October 2010), shortly after Iraq hiked its own oil reserves estimate to...