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Iran Discovers More Oil
By Micah Halpern

Thursday January 24, 2019

I've Been Thinking:

Surprise - Iran has discovered oil on an island named Abandan. The island is located on a river 35 miles north of the Persian Gulf, just at the nexus where Iran meets Iraq.

The oil was discovered about 4000 yards below the surface. According to the Iranian oil minister, it is the first time they have found oil in this region. There was no public statement as to how large the newly discovered oil reserve is.

The news was reported in Mehr, an official Iranian news site. Iranian oil minister Bijan Zanganeh called the oil discovery "very light and sweet."
Of course now Iran has to try to sell the oil.

President Hassan Rouhani, the Iranian president, posted a message on his official website. He wrote: "With regard to oil issues, luckily we are pursuing various paths and roads for selling oil and we bypass American sanctions with pride."

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25 January 2019 12:15 AM in Thoughts

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