Recently, Pakistani Maritime and Foreign Minister Abdullah Hussein Halon said that Exxon Mobil found huge oil reserves in Pakistan near the Iranian border, and these reserves even exceeded Kuwait’s oil reserves.
Halon said in a speech at the Pakistan Chamber of Commerce and Industry: "ExxonMobil is mining oil near the Iranian border and is optimistic about oil discovery. As long as we can meet their standards and attract them to invest, foreign investors will be very interested in doing business in Pakistan.” It is understood that Pakistan’s current crude oil production can only meet 15% of domestic demand, and the remaining 85% are all imported. Due to the high oil prices in recent months, Pakistan often faces huge fiscal deficits and uses most of its foreign exchange reserves for oil imports.
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