Iran discovers new oil field to hold 1 billion barrels of crude

[dr.umer]

It is reported by RIA Novosti

TEHRAN, July 13 (RIA Novosti) - A new large oil deposit with estimated reserves of more than 1 billion barrels of crude has been discovered in Iran, the Iranian oil minister said on Sunday.

Gholamhossein Nozari said the oil field, located in the southwestern province of Khuzestan, is believed to contain 1.1 billion barrels of crude, with recoverable reserves of about 220 million barrels.

Iran ranks fourth in terms of crude reserves after Saudi Arabia, Iraq and Kuwait, as well as fourth in terms of oil production after Saudi Arabia, the United States and Russia.

Tehran exports the majority of crude produced in the country.

Iran grossed $70 billion from oil sales over the country's past solar year, which according to the Iranian calendar ran from March 21, 2007 until March 20, 2008, the oil minister earlier said.

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I think it will increase US efforts to invade Iran like Iraq. In 2005-2006, The Tehran government has developed a plan to begin competing with New York's NYMEX and London's IPE with respect to international oil trades - using a euro-denominated international oil-trading mechanism. This means that without some form of US intervention, the euro is going to establish a firm foothold in the international oil trade. Given U.S. debt levels and the stated neoconservative project for U.S. global domination, Tehran's objective constitutes an obvious encroachment on U.S. dollar supremacy in the international oil market.

 

[maqsad]

Khuzestan is an Arab province in Iran right on the border with Iraq. It was the province that Saddam wanted to annex due to it's Arab speaking population of marsh arabs. It also holds 90% of Iran's oil reserves.

 

[dr.umer]

As you will aware of the fact that Pakistan Foreign Minister Shah Mahmood Qureshi told The Associated Press Saturday that his nation's new government has ruled out permitting any US military operations, covert or otherwise, to catch militants.(Link)

I personally think that The Pakistani diplomatic team and their military are no fools.

They understand that any US/NATO incursion into Pakistani territory is not about "catching" the guy Osama; it is about using that as a pretext in order to establish US/NATO troop presence on the ground in Pakistan to open up a potential Western front against Iran, should there be a US/Israeli strike against that country.

 

[maqsad]

Khuzestan province is in the extreme east of Iran. I don't see the connection. Also Iran would not dare to attack any pakistani bases unless they were purely targetting NATO.