Iran says oil field found with 53 billion barrels of crude
Tehran: Iran has discovered a new oil field containing 53 billion barrels of crude, President Hassan Rouhani said Sunday, a find that would increase Iran's proven reserves by over a third.
The field covers 2,400 square kilometres (926 square miles) and is located in Iran's southwestern province of Khuzestan, Rouhani said in a speech aired on state TV.
"This is a small gift by the government to the people of Iran," he said. The 80-metre deep field stretches nearly 200 kilometres from Khuzestan's border with Iraq to the city of Omidiyeh, Rouhani added.
The find would add around 34 percent to the OPEC member's current proven reserves, estimated by energy giant BP at 155.6 billion barrels of crude oil.
Iran is a founding member of the Organization of the Petroleum Exporting Countries and sits on what were already the world's fourth-biggest oil reserves and second-largest gas reserves.
But it has struggled to sell its oil since US President Donald Trump withdrew from a landmark 2015 nuclear deal and reimposed unilateral sanctions on Iran.
The remaining parties to the accord -- Britain, China, France, Germany and Russia -- have worked to save it by avoiding US sanctions, but their efforts have so far borne little fruit.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Finland's President Stubb kicks off 4-day visit to India; trade, innovation top agenda
New Delhi (PTI): Finnish President Alexander Stubb began a four-day visit to India on Wednesday to bolster bilateral cooperation across a wide spectrum of areas, including trade, investment and critical technology.
Stubb will hold talks with Prime Minister Narendra Modi on Thursday following which the two sides are expected to firm up a number of Memoranda of Understanding (MoUs) to boost cooperation in a number of sectors.
The crisis in West Asia is likely to figure prominently in the meeting.
ALSO READ: SpiceJet to operate 8 flights from UAE on Wed
"The visit will further strengthen the relations between Finland and India, including in the area of trade," Stubb said before leaving for New Delhi.
The Finnish president will grace as the chief guest at the inaugural session of the Raisina Dialogue on Thursday evening.
Stubb was accorded a warm welcome at the airport by Minister of State for External Affairs Kirti Vardhan Singh.
"India and Finland share a warm and friendly relationship rooted in shared democratic values. President Stubb's visit will impart further energy to India-Finland relations," External Affairs Ministry spokesperson Randhir Jaiswal said on social media.
The Finnish president is accompanied by a high-level delegation comprising ministers, senior officials and business leaders.
Stubb's visit to India comes weeks after Finland's Prime Minister Petteri Orpo travelled to New Delhi for the AI Impact Summit.
The Finnish president will also meet President Droupadi Murmu and Vice President C P Radhakrishnan.
Stubb will travel to Mumbai on Friday where he is scheduled to meet several business leaders. The Finnish leader will conclude his visit on Saturday.
