Taliban announce first auction of oil produced in Afghanistan

The first auction of oil produced in Afghanistan took place in Kabul, the Ministry of Mining and Oil of the Taliban movement controlling Afghanistan reported today on March 7th.

The tender for the sale of 20,000 tons of Kashgar oil and 7,000 tons of Angut oil was held on March 7 in the presence of the Deputy Minister of Mines and Oil, Shahabuddeen Delaware.

“We are witnessing the first trade in oil produced in Afghanistan, and it is an honor that the applicant companies are also located in the country and all processing of the raw materials will be carried out in Afghanistan,” Delaware said.

Expected oil production amounts are stated with a gradual increase from 1 thousand tons / day to 23 thousand tons / day. It was negotiated that China’s investment would be between $150 million and $540 million over three years. The duration of the exploration work is foreseen as three years. The extracted oil will have to be processed in Afghanistan.

Afghanistan will be a partner in this project with a 20% participation rate and will gradually increase to 75%. The contract period is 25 years. This agreement was the first international investment agreement since the Taliban came to power in Afghanistan.

Meanwhile, on February 28, it was learned that Russian oil would be stored in Ghana as they could not find buyers for energy resources. The Russian Federation has already diverted approximately 600,000 barrels of oil from the Black Sea port to the African country.

Recall that on January 21, it was learned that a ship capable of carrying 22.5 thousand tons of smuggled oil from Russia was detained in Durresi, Albania.

Moreover Focus He wrote that the Russian Federation stopped oil supplies to the Polish company PKN Orlen SA on February 25 through the Druzhba pipeline.

In September 2022, Russia agreed with the Taliban government in Afghanistan to supply oil products, liquefied natural gas and wheat.

It is worth emphasizing that Taliban declared a terrorist organization in Russia. However, the leaders of the movement were received in the Kremlin on the eve of the fall of Kabul, and the Russian embassy is one of the few still operating in the Afghan capital.

The Taliban is an Islamic radical religious movement that arose among representatives of the Pashtun people in Afghanistan in the first half of the 90s. They recaptured the country after the withdrawal of American troops in 2021. In many countries, the Taliban is considered a terrorist organization.