Middle East Economic Survey

VOL. LIII

No 41  

11-Oct-2010

Baghdad Announces Oil Reserves Boost

Iraq’s Ministry of Oil on 4 October announced that it has increased its proven oil reserves by around one-quarter to 143.1bn barrels, a figure which, if borne out, would see Iraq overtaking its regional rival Iran as the world’s second largest holder of conventional crude resources.

Practically everyone who has studied Iraq’s geology has come away with the...