An oil and gas discovery announced during the weekend off the coast of Bahrain could hold at least 80 billion barrels, the government announced Wednesday. Bahraini Oil Minister Mohamed bin Khalifa al-Khalifa announced during the weekend that a “substantial” oil and natural gas discovery was made off the nation’s west coast. The new resource is forecast to contain highly significant quantities of tight oil and deep gas, understood to “dwarf” Bahrain’s current reserves. According to the CIA World Factbook, Bahrain holds 124.6 million barrels of oil reserves, which ranks 27th in the world. The state-run oil and gas authority said Wednesday the discovery holds at least 80 billion barrels of oil. Bahraini Oil Minister Mohammed bin Khalifa al-Khalifa […]