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|Wednesday, March 21, 2001, updated at 18:49(GMT+8)|
Iraq's Proven Oil Reserves Reach 115 Billion BarrelsIraq has increased its proven oil reserves by three billion barrels to 115 billion barrels despite the crippling embargo imposed on it after its 1990 invasion of Kuwait, according to local newspapers.
Oil ministry undersecretary Taha Hammud said that Iraq has increased oil reserves by three billion barrels to 115 billion barrels
He also said that Iraq's oil reserves will continue to increase in the future to reach 300 billion barrels,overrunning Saudi Arabia.
Iraq's reserves are second in the world to Saudi Arabia, which has reserves totalling 261 billion barrels.
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