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- The island nation of Bahrain announced Wednesday that it discovered a shale reserve with at least 80 billion barrels of crude oil.
- Like other producers, Bahrain’s government relies on oil revenues to fund itself, and its deficit was worsened by the oil crash that began in 2014.
- Halliburton will frack the shale reserve to evaluate how much oil in the find is actually extractable.
Bahrain announced on Wednesday that it discovered at least 80 billion barrels of crude oil in a shale reserve.
The island kingdom to the east of Saudi Arabia is the smallest and oldest energy producer in the Persian Gulf, according to Bloomberg.See the rest of the story at Business Insider
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