At current rates this would be 45 years of supply if no new oil was found.

Iran seems to be very concerned over these new oil and banking sanctions.

They don't deny that it is hard to find new oil.

This was to make the harbour ready for the country's new oil and gas industry.

In 2008, £1.4 billion was spent finding new oil and gas reserves.

With its use, there was a dramatic increase in the discovery of new oil.

"That's the same amount of new oil we could get from 41 states combined."

At that meeting, the companies lobbied for the right to invest and own a share of what they find in new oil.

This is a new genetically modified oil and has been available in commercial quantities since 2011.

Please send your questions, concerns or suggestions on the new oil and we will put them to senior government member.