Pakistan, US Reach Deal to Develop Oil Reserves, Cut Tariffs

The US and Pakistan reached a trade agreement expected to allow Washington to help develop Pakistan's largely untapped oil reserves and lower tariffs for the South Asian country, officials from both nations said on Thursday.

- AP [e-mail] ISLAMABAD

Officials did not specify where the exploration would take place, but most of Pakistan's reserves are believed to be in the insurgency-hit south-western province of Balochistan, where separatists say the province's natural resources are being exploited by the central government in Islamabad.

"We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves," US President Donald Trump wrote on his Truth Social platform.

"We are in the process of choosing the oil company that will lead this partnership," Trump added. "Who knows, maybe they'll be selling oil to India someday!"