Jan 06, 2023 01:38 PM

Chinese Firm Signs Deal With Taliban to Produce Oil in Afghanistan

Photo: VCG
Photo: VCG

(Bloomberg) — The Taliban-led administration in Afghanistan signed its first international contract Thursday to extract oil from the northern Amu Darya basin as the beleaguered group seeks to increase revenue.

The agreement with China’s Xinjiang Central Asia Petroleum and Gas Co. Ltd. was inked in Kabul in the presence of Chinese Ambassador to Afghanistan, Wang Yu, and the Taliban’s Deputy Prime Minister for Economic Affairs Mullah Abdul Ghani Baradar. The pact will “strengthen Afghanistan’s economy and increase its level of oil independence,” Baradar said at the signing.

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