BIG blow to Asim Munir, Shehbaz Sharif as Trump secy busts Pakistan oil reserves myth, says US not interested in…

Pakistan oil reserves: In a major setback for Pakistan, US energy secretary Chris Wright has stated that the United States is not interested in exploring oil reserves in Pakistan, seemingly distancing himself from US President Doland Trump and Islamabad’s claims about Pakistan housing reserves worth billions.

Why Trump claimed Pakistan has vast oil reserves?

According to media reports, citing US intelligence sources, the remarks made by Chris Wright indicate that Doland Trump’s claims about vast Pakistan oil reserves were mere political posturing, rather than a concrete policy or investment plan by Washington.

Wright asserted that the Trump administration has no current plans or corporate interest in investing in oil exploration or development projects in Pakistan, contradicting Trump’s public statement last month, in which the US President said that Washington was prepared to invest heavily in Pakistan’s untapped oil reserves.

Will this impact India(BHARAT)’s energy needs?

White House sources believe that the contradiction between the President and energy secretary’s position, highlights the disconnect between political rhetoric and actionable energy policy within the Trump administration, and could have significant implications on regional energy security, particularly for India(BHARAT), CNN-News18 reported.

In recent years, India(BHARAT) has diversified its energy import to Russia, Middle East and the US, to ensure a robust supply chain independent of Pakistan’s uncertain oil prospects. Thus, Pakistan having oil reserves or not would have little impact on India(BHARAT)’s energy security as New Delhi’s energy supply is completely independent of Islamabad, according to experts.

Does Pakistan have oil reserves?

As per experts, Pakistan does have a considerable oil reserves, but these remain largely unconfirmed because of challenging exploration conditions, with political instability, insurgency, and terrorism deterring foreign investors, including US energy giants, from making any large-scale energy investment in the country.

Earlier this year, Pakistan reportedly discovered large reserves of oil and natural gas in the country’s northwestern parts, with media reports stating that Mari Energies Limited– one of Pakistan’s largest energy companies– has found three new oil and gas reserves, and the sites are already producing crude oil and natural gas.

Mari Energies, which manages and operates the Mari Gas Field– Pakistan’s largest gas reserve–  had said the newly discovered reserves already churn out around 20 million cubic feet of natural gas and 122 barrels of crude oil per day, and efforts are on to ramp up the capacity to help meet the country’s energy needs.