Sunday, March 3, 2024

China Firm’s Crude Oil Production Surges 300% in Taliban-led Afghanistan: Bloomberg Report

Immigration News

Fidel Rahmati
Fidel Rahmatihttps://www.khaama.com
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

A Chinese company has increased crude oil production in Afghanistan by 300 per cent, according to a report by Bloomberg.

The news media outlet reported on Wednesday that Central Asia Oil and Gas Company, operating under the name Sinopec of China, a private company, has increased crude oil production in Afghanistan by approximately 300%.

According to the report, this Chinese company has aimed to increase crude oil production in Afghanistan by drilling over 10 oil wells.

Bloomberg released this report while previously, Hamayon Afghan, the spokesperson for Afghanistan’s Ministry of Mines and Petroleum, stated that this Chinese company had drilled approximately 10 oil wells in Afghanistan.

However, Mr. Afghan added that with the creation and drilling of these 10 oil wells, crude oil production in Afghanistan has currently increased fourfold.

Experts believe that the surge in crude oil production in Afghanistan is reducing the country’s reliance on oil imports from neighboring nations.

Since the return of the Taliban to power in Afghanistan, the group has actively sought to strengthen its relations with China. This newfound partnership extends beyond just diplomacy, as it encompasses significant economic and investment cooperation. China has made substantial investments in various sectors within Afghanistan, marking a notable shift in the region’s geopolitical dynamics.

In the wake of the Taliban’s resurgence, Afghanistan has found itself heavily dependent on its neighbor, Iran, for crucial energy imports such as oil and gas. The landlocked country’s energy needs are met predominantly through imports from Iran, highlighting the significance of regional partnerships in ensuring Afghanistan’s energy security.

The evolving relationships in Afghanistan’s geopolitical landscape, particularly with China and Iran, carry global geopolitical repercussions.

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