Brazil’s Gerdau buys out Sumitomo Corp and JSW in Gerdau Summit
The transaction is expected to close in early 2025.
Afghanistan will start producing oil for commercial purposes for the first time in July.
The China National Petroleum Corporation will operate the project in the northern part of the country in the Amu Darya basin, reports the Australian Broadcasting Corporation.
Eventually, the project is expected to supply enough domestic energy for Afghanistan to stop importing oil.
Turkish, Kuwaiti and United Arab Emirates companies are developing the country’s biggest oil project in the Afghan-Tajik basin, also located in the northern region.
Afghanistan’s untapped mineral and energy reserves are estimated to be worth trillions of dollars.
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