Afghan oil extraction is agreed upon by the Taliban and a Chinese company.

To dig for oil in Afghanistan's north, the Taliban government will negotiate a contract with a Chinese company. Since the Taliban took over control of Afghanistan in 2021, this would be the first significant energy extraction arrangement with a foreign company. The 25-year agreement highlights China's economic presence in the area. Officials from the Taliban said on Thursday that security personnel had attacked members of the Islamic State group who had assaulted a guesthouse frequented by Chinese businessmen. The Taliban reported that eight IS members were killed and numerous more were detained. At least three individuals were killed and 18 others were hurt in the Kabul Longan Hotel bombing in December, including five Chinese nationals. According to Taliban spokesperson Zabihullah Mujahid, the oil extraction agreement will allow Xinjiang Central Asia Petroleum and Gas Company (CAPEIC) to conduct oil drilling in the Amu Darya basin. At a press conference in the Afghan capital of Kabul, Wang Yu, China's ambassador to Afghanistan, said, "The Amu Darya oil contract is a significant enterprise between China and Afghanistan." A copper mine in the country's east may be operated by a state-owned enterprise in China. Natural resources worth more than $1 trillion are thought to be present in Afghanistan, including copper, rare earths, and natural gas. However, because of the country's protracted instability, a large portion of such deposits remain untapped. Beijing has huge interests in Afghanistan, which is at the centre of a region crucial to China's Belt and Road Initiative but has not officially recognised the Taliban government there (BRI). The BRI, which was established by Xi Jinping in 2013, offers money to developing nations so they may develop infrastructure including ports, roads, and bridges. Other stories The US House Speaker election’s longest vote lasted 2 months. After 15 vote rounds, Kevin McCarthy is chosen as the Speaker of the US House. Lady Leads “Church Worship” While Still in Her Undies (Watch) Sammy Gyamfi’s attractive wife’s secret to her voluptuous physique is disclosed. A woman offers to pay 80K to any male who will pose as her spouse.