Global oil demand next year will increase by 1 million barrels

According to MNA, Tehran, Iran, Iranian presence of Petroleum Exporting Countries (OPEC) August 26 government representatives said here today that, due to signs of recovery in the global economy, global oil demand in 2010 is expected to increase by 100 million barrels.

He said that the global economy, taking into account the relative recovery, Harty than expected global oil demand in 2010 will increase 0.5-1 million barrels. This year, global oil demand than the previous year fell from 1.5 million to 2 million barrels.

Turning over the past few months, said global oil inventories, oil-producing countries do not want to sell their inventory, they want to rising oil prices will continue to rise. From 13-member OPEC will not be meeting on September 9 to reduce oil production. Optimistic about the signs of the oil market and the global economic recovery will be gratifying news in January of next year before that pushed oil prices above 80 U.S. dollars a barrel.

Aug. 28, 2009

Iran Sousangerd oilfield discovered 8.8 billion barrels of crude oil reserves

August 24, according to media reports in Tehran, Iranian Oil Minister Gholam Hussein Nozari said here today that Iran has received over the past five years, the largest oil discovery. Nozari said that Iran recently Sousangerd oilfield found in the four strata of 8.8 billion barrels of crude oil reserves.

Iran's IRNA news agency quoted Nozari as saying, Sousangerd oilfield 4 Ge formation the drilling operation has been successfully completed, the four strata are estimated to have 8.83 billion barrels of crude oil reserves. Iran's Oil Ministry will prepare a development plan in the near future, due to new discoveries near existing infrastructure, therefore, Nozari hope Sousangerd oilfield can be put into operation in the near future.

Aug. 25, 2009