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Iran digs up ‘tens of billions’ in gas wealth as US energy showdown heats up

Posted on August 24, 2026
By Business News Today
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Iran digs up ‘tens of billions’ in gas wealth as US energy showdown heats up

Iran has discovered a major gas field in southern Fars province containing 7.5 trillion cubic feet of gas, with 5.7 trillion cubic feet recoverable. The find includes gas condensate that Oil Minister Mohsen Paknejad said could create tens of billions of dollars in new wealth, as US pressure on Irans energy sector intensifies.