Iraq reserves rising to 150 bn barrels

BAGHDAD - Iraq is set to raise its official assessment of its oil reserves from 143 billion barrels to 150 billion, following the appraisal of newly worked oil fields.

"According to our calculations that we have conducted, the oil reserves increased to more than 150 billion barrels," said Oil Minister Abdul Karim Luaibi, speaking to reporters in Baghdad on April 10.