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Iran Claims It Has Discovered New Oil Field With 53 Billion Barrels

Monday, November 11, 2019, 8:36 AM

Iran has discovered a new oil field containing 53 billion barrels of crude, President Hassan Rouhani said Sunday, a find that would increase Iran's proven reserves by over a third. The field covers 2,400 square kilometres (926 square miles) and is located in Iran's southwestern province of Khuzestan, Rouhani said in a speech aired on state TV.
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Iran Lifts Nuclear Research Limits, Reduces Commitments To 2015 Deal

Thursday, September 5, 2019, 8:24 AM

Iran's President Hassan Rouhani on Wednesday ordered all limits on nuclear research and development to be lifted, the country's third step in scaling down its commitments to a 2015 deal with world powers. His announcement came shortly after the US hit the Islamic Republic with further sanctions, the latest in a series of punitive measures including an embargo on Iranian oil exports.
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New US-led patrols in Persian Gulf raise stakes with Iran

Tuesday, September 3, 2019, 6:16 PM

As the U.S. tries a new way to protect shipping across the Persian Gulf amid tensions with Iran, it finds itself sailing into uncertain waters. For decades, the U.S. has considered the waters of the Persian Gulf as critical to its national security. Through the gulf's narrow mouth, the Strait of Hormuz, 20% of all crude oil sold passes onto the world market.

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