TEHRAN, Aug. 25 (UPI) -- More than 5 billion barrels of in-place oil reserves were discovered during drilling operations at the Sousangerd field in southwest Iran, officials say.

TEHRAN, Aug. 24 (UPI) -- The nominee for Iranian oil minister said moving forward with a multibillion-dollar energy reform package topped his potential national agenda.

TEHRAN, Aug. 20 (UPI) -- Though declining to specify exactly where, the outgoing Iranian oil minister announced the discovery of a giant oil field as a new government takes shape.

TEHRAN, Aug. 18 (UPI) -- Sanctions targeting gasoline suppliers to Iran would fall short of their objectives as the country has the ability to meet its needs, the oil minister said.

WASHINGTON, July 24 (UPI) -- Iranian Oil Minister Gholamhossein Nozari announced that Iran has identified 46 offshore oil fields in its Caspian territorial waters.

TEHRAN, July 24 (UPI) -- Iranian President Mahmoud Ahmadinejad inaugurated the semi-floatable Iran-Alborz drilling rig in its territorial waters of the Caspian Sea.

TEHRAN, July 20 (UPI) -- Iran plans to diversify its export strategy for natural resources to move away from commitments to crude oil as officials predict static market conditions.

TEHRAN, June 26 (UPI) -- Iran plans major investments in its energy sector to bring a petrochemical complex and several gas fields online in the next few years, officials said.

TEHRAN, June 15 (UPI) -- Three percent of the national oil revenue will be allocated to developments at the offshore South Pars gas field in Iran, ministers say.