Iraq says recoverable oil reserves stand at 15 billion barrels

By Shaymaa Adel Azzaman, February 8, 2014 Iraq’s recoverable oil reserves have shot to 150 billion barrels, thanks to new major discoveries, Oil Minister Abdulkareem Luaibi said. Previously, the ministry’s official figure of oil reserves stood at 120 billion. Luaibi attributed the surge to “large-scale discoveries made by the ministry in explorations across the country.”(…)