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Iran to market 2 new crude oil brands globally

Director of the International Affairs Department at National Iranian Oil Company Saeed Khoshru said two new brands of ultra heavy crude oil of Iran, named Kurosh (South Pars oil layer) and west Karoon will be marketed globally.

Iran to market 2 new crude oil brands globally
(Sunday, October 8, 2017) 10:08
Khoshru told the Asia-Pacific Economic Cooperation Organization (APEC) in Singapore that Kurosh crude oil has been marketed worldwide since several months ago and West Karoon crude oil will soon be presented to the world markets.

He said the NIOC's adherence to all their commitments against customers is undeniable. 'Over the past few years, tyrannical sanctions against Iran prevented the world to fully use all their capacities.'

He announced that Iran crude exports have reached 2.2 million barrels per day.

Iran, enjoying about 158 billion barrels of proven crude oil reserves and 34 trillion cubic meters of proven natural gas has a share of about 12 and 15 percent, respectively of the world total reserves, about 70 percent of which being reserves in oil and mostly in Persian Gulf, according to Khosru.

Furthermore, about 500 million barrels of extractable oil reserves are extractable in the Iranian part of the Caspian Sea, he added.
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