The Oil & Gas Development Company (PSX: OGDC) has crossed Rs. 1 trillion in market cap after the Government of Pakistan struck a game-changing oil deal with the Trump administration on Wednesday.
The US deal is essentially an oil exploration deal. Trump said Pakistan and the United States will work together on developing their massive Oil Reserves.
“We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they’ll be selling Oil to India someday!,” Trump added.
Separately, it was announced that both sides had successfully concluded negotiations on the long-standing trade deal.
A press release read that the agreement will result in a reduction of reciprocal tariffs, especially on Pakistani exports to the United States.
This deal marks the beginning of a new era of economic collaboration, especially in energy, mining and minerals, IT, cryptocurrency, and other sectors.
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