Report: Iran discovers new offshore oil field
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Iran's state television says the country has discovered a new offshore oil field in the Persian Gulf that contains more than 1 billion barrels of crude.
Tuesday's report quotes the head of the government-owned Iranian Offshore Oil Company, Mahmoud Zirakchian. He says the amount of recoverable oil from the field, named Binaloud after an Iranian mountain range, will be announced later. Last week, Iran said it discovered seven other oil fields containing about 1 billion barrels of recoverable oil. (AP)
