Iran no longer OPEC's 2nd oil exporter

Oil&Gas Materials 19 July 2011 15:50 (UTC +04:00)

Azerbaijan, Baku, July 19 /Trend D.Khatinoglu/

Nigeria with 2.464 million barrels of oil per day surpassed Iran as OPEC 's second oil exporter according to the OPEC's annual report published on Monday.

The report says that Iran exported 2.248 million barrels of oil per day on 2010, while Nigeria's export increased by 300,000 barrels up to 2.464 million barrels of oil per day.

Meantime, Iran's oil reserves increased by 10 percent - up to 151.2 billion barrels of oil in 2010.

Venezuela surpassed Saudi Arabia as the largest oil reserves in the world by 295 billion barrels. OPEC reported that Saudi Arabia has the second largest oil reserves with 264 billion barrels of oil.