KABUL — Afghanistan has agreed to sign a deal with China National Petroleum Corporation (CNPC) for oil exploration and extraction, the president’s office said in a statement Monday.
The state-owned Chinese oil giant will develop three oil fields, along with Afghan company Watan Group, located in the Amu river zone in Sar-e Pol and Faryab provinces in northern Afghanistan, the statement said.
“This is the first big contract for exploration and extraction of oil in Afghanistan,” the statement said.
“There are 87 million barrels of oil in the area.”
Six oil deposits have been discovered in Afghanistan, including in Herat, in the west, Helmand in the south and Paktia in the southeast.
Afghanistan’s natural resources could theoretically generate billions of dollars in tax revenue. But exploitation of these resources faces massive hurdles due to ongoing instability, woeful infrastructure and endemic corruption.
Chinese companies have been pushing into oil-rich areas as the energy-hungry Asian giant seeks to secure resources needed to fuel the world’s second largest economy.
Ivanka and other advisors told Trump to ‘suck it up’ and allow the transition to proceed: report
According to a new report from NBC News, President Trump's recent acceptance of a formal transition of power to the incoming Biden administration came after a meeting with his top advisers in the midst of growing pressure from Republicans and business leaders.
"The advisers argued that the combination of snowballing calls from Republicans in Congress to begin the transition, disastrous public appearances by attorneys Rudy Giuliani and Sidney Powell and mounting legal setbacks were creating a public relations problem — and that Trump needed to shift course to protect his brand,' as one ally put it," NBC News' Carol E. Lee, Peter Alexander and Hallie Jackson report.
Wisconsin voters frustrated with GOP’s ‘ridiculous’ push to throw out votes: ‘I don’t understand what Republicans are thinking’
Voters in Dane County, Wisconsin are confused by President Donald Trump and Republicans' efforts to toss legal ballots out in an effort to overturn the results of the election.
According to the Milwaukee Journal-Sentinel, voters have shared details about their voting experience for the 2020 general election along with their reactions to the post-election legal battle.
On Monday, election officials in Dane and Milwaukee counties — where recounts are currently underway — were expected to block the Trump campaign's efforts to throw out a "broad categories of ballots." Although the effort could end up in court, voters are displeased with the ordeal.
Here’s how Trump revealed a startling fact about the modern conservative psyche
Many Never Trump conservatives were hoping that if President Donald Trump lost the 2020 presidential election, the GOP would reject Trumpism and return to a more traditional conservatism. Trump lost, and President-elect Joe Biden won 306 electoral votes in addition to defeating Trump by more than 6 million in the popular vote. But author Richard North Patterson, in an article published by the conservative website The Bulwark this week, laments that despite Biden's victory, Trumpism will continue to plague the GOP for the foreseeable future.