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 Post subject: Iran discovers more oil
 Post Posted: Fri Dec 28, 2012 7:29 am 
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Iran discovers more oil
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Iranian authorities plan to relocate the city of Ahvaz airport after discovering an oil field under the runway.

"The Iranian Oil Ministry will acquire Ahvaz airport and a new airport will be built 15 kilometres from the city," the Director of the Iranian Airports Company Mohammed Rasulnijad told Iranian television İribnews on Friday.

The Cabinet has already negotiated the relocation of the airport, Rasulnijad said. The construction of the new transport hub is due to start in the coming days.

Iran is under pressure from international sanctions, mainly over oil exports, imposed by the UN Security Council, the US and the EU in order to curb the Islamic Republic’s controversial nuclear program.

Iranian oil production fell by up to 60% this year to 1.54-1.76 million bpd from 4mn bpd, according to OPEC. However, Iran denies output was cut due to the sanctions, but due to the maintenance of the oil fields.

In response Iran threatened to block the Strait of Hormuz. The waterway accounts for more than a third of the world's seaborne oil exports from Saudi Arabia, Iran, Kuwait, Iraq, the UAE and Qatar.

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