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Afghan Government Signs Deal With Oil Company

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Afghan Government Signs Deal With Oil Company

Business

Afghan Government Signs Deal With Oil Company

Afghan Government Signs Deal With Oil Company

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China's National Petroleum Corporation would be the first foreign company to produce oil in Afghanistan. The Afghan government says the 25-year-deal could create jobs and help develop oil reserves in the northeast part of the country.

STEVE INSKEEP, HOST:

NPR's business news starts with China in Afghanistan.

(SOUNDBITE OF MUSIC)

INSKEEP: Afghanistan's government is signing off on a deal with the Chinese state oil company. China's National Petroleum Corporation would be the first foreign company to produce oil in Afghanistan. The Afghan government says the 25-year-deal could create jobs and help develop oil reserves in the northeastern part of the country.

For China, this agreement could mean a new source of energy. China is already Afghanistan's largest foreign investor, in fact. A few years ago, a Chinese metals company won the rights to develop a giant copper mine in Afghanistan.

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