China cuts deal with Taliban to extract oil in Afghanistan

China cuts deal with Taliban to extract oil in Afghanistan

The Taliban is cutting its first major energy extractions agreement since taking control of Afghanistan in 2021, agreeing to a 25-year pact with a Chinese company to drill for oil in the country’s Amu Darya basin.

“The Amu Darya oil contract is an important project between China and Afghanistan,” Wang Yu, the Chinese ambassador to Afghanistan, said at a press conference in Kabul, according to a BBC report last week.

The Taliban’s agreement is with China’s Xinjiang Central Asia Petroleum and Gas Company and is set for 25 years, while another Chinese state-owned company is also reportedly in talks with the Taliban to operate a copper mine in eastern Afghanistan.

Afghanistan sits on reserves of natural gas, copper and rare earth minerals estimated to be worth over $1 trillion, which remain untapped amid decades of war and turmoil in the country.

https://www.foxnews.com/world/china-cuts-deal-with-taliban-extract-oil-afghanistan


Posted

in

by

Tags:

Comments

Leave a Reply