The tender for the sale of 20,000 tons of Kashgar and 7,000 tons of Angut oil took place on March 7.
The first oil auction ever held in Afghanistan took place in Kabul. This was reported on March 7 by the Interfax news agency, citing the Taliban government.
The Ministry of Mining and Oil specified that the tender for the sale of 20,000 tons of Kashgar oil and 7,000 tons of Angut oil was held on Tuesday.
The auctions were held at the departmental building in Kabul.
The agency recalled that on January 5, Afghanistan and the Chinese oil and gas company CAPEIC signed a contract for the exploitation of oil fields in the north of the country.
Expected volume of oil production – with a gradual increase from 1 to 23 thousand tons per day.
According to the contract, China’s investment will be between $150 million and $540 million over three years. The extracted oil has to be processed in Afghanistan.
Kabul will be a partner in this project with a share of 20% with a further gradual increase to 75%. The term of the contract is 25 years.
It is emphasized that the agreement is the first international investment contract since the Taliban came to power in Afghanistan.
It was previously reported that the Taliban was negotiating with the Russian Federation on the supply of grain and fuel.
Afghanistan offered Russia to exchange oil products for raisins
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.