Iran Iraq oil dispute

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Iraq's Oil Reserves Bigger Than Previously Thought

Country claims it has 24% more crude in new estimate

(Newser) - Iraq is home to 24% more oil than it had previously estimated, the country announced today. In Iraq's first revision to its stated oil reserves since 2003, the oil ministry claims to have 143.1 billion barrels of known and recoverable oil, up from the previous level of 115 billion... More »

Iran Seizes Iraqi Oil Well on Disputed Border

No violence, confrontations common in southern border region

(Newser) - Iranian forces have seized an Iraqi-run oil well on the disputed border between the countries and raised their flag. A US official says it's not an uncommon occurrence, adding, “There has been no violence related to this incident and we trust this will be resolved through peaceful diplomacy between... More »

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