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Afghanistan Signs New Oil Deal With China, Assures Beijing It Will Also Improve Security For Its People

Acting minister of mines and petroleum Shahabuddin Dilawar (L), Afghanistan's acting first deputy prime minister Abdul Ghani Baradar (C) and China's ambassador to Afghanistan Wang Yu attend a press conference to announce an oil extraction contract with a Chinese company in Kabul on January 5, 2023. Ahmad SAHEL ARMAN / AFP

The Afghan government signed a symbolically important oil extraction deal with a Chinese state-owned company, the first such agreement since the Taliban took power in 2021.

The Chinese side will own 80% of the venture and invest $150 million annually in the project to develop new oil fields in northern Afghanistan.

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