Iran discovers new shale oil deposit

Iran has made a shale oil discovery estimated at 2 billion barrels, an official from the National Iranian Oil Company (NIOC) said.

The light crude find was made in the country’s western Lorestan province in the Ghali Koh area, the NIOC deputy director for exploration Bahman Soleimani said.

The discovery comes amid shale gas explorations in the province, which Soleimani said would be complete by October, TOGY reported.