Iran hits jackpot, finds shale oil reserves

Crude oil is one of the major needs of every country. There are some countries in the world which have reserves of crude oil. But there are also countries which buy crude oil from other countries. But the countries which have reserves of crude oil do not have to depend on other countries in this matter. Crude oil is also available directly in liquid form and can also be extracted from some other sources, including oil shale rocks. Recently Iran has informed that it has got something no less than a jackpot.

Mehdi Fakour, Director of Exploration at National Iranian Oil Company (NIOC), recently informed that the company has found shale oil reserves in 10 different places in the country. Fakour said the shale oil reserves Iran discovered in the last Iranian calendar year (which ends March 19, 2024) added more than 2.5 billion barrels of oil to Iran's crude oil and natural gas reserves.

Shale rock must first be broken into tiny pieces in order to extract the oil from it. After that, a high temperature is applied. It releases shale oil when heated. Shale oil is cleaned of impurities and rendered usable through refining.

When it comes to crude oil reserves, Iran is ranked highly. Iran has shale oil reserves, which means that under such circumstances, its crude oil reserves will rise even more. Additionally, this will lead to a rise in Iran's crude oil exports abroad.