Iran finds 2bln barrels shale oil reserves

DUBAI: Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.

"Based on studies, it is estimated that the shale oil reserves in Ghali Koh in Lorestan amount to 2 billion barrels of oil in place,” Bahman Soleimani, NIOC’s deputy director for exploration, told the semi-official news agency Tasnim.