Trump announces $8.4bn oil project under South Korea deal
Middle East Eye
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Middle East Eye
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President Trump announced that South Korea's $200 billion energy investment commitment now includes an $8.4 billion enhanced oil recovery project. The broader agreement offers Seoul reduced tariffs in exchange for these investments.
US President Donald Trump says South Korea’s commitment to invest $200bn in American energy now includes an oil recovery project worth $8.4bn. The broader agreement offers Seoul lower tariffs in return for investment.
“I am thrilled to announce the Republic of Korea Deal keeps getting BETTER!,” he wrote on Truth Social.
“8.4 Billion Dollars for an enhanced Oil Recovery Project. Producing more Oil and Gas means American Energy Dominance and Energy Security in the World for the Future!” Trump added.
He provided no location or explanation of how the project would operate.
The announcement comes as Washington’s war on Iran disrupts oil supplies worldwide, driving up prices and leaving the US facing shortages at home.
“I am thrilled to announce the Republic of Korea Deal keeps getting BETTER!,” he wrote on Truth Social.
“8.4 Billion Dollars for an enhanced Oil Recovery Project. Producing more Oil and Gas means American Energy Dominance and Energy Security in the World for the Future!” Trump added.
He provided no location or explanation of how the project would operate.
The announcement comes as Washington’s war on Iran disrupts oil supplies worldwide, driving up prices and leaving the US facing shortages at home.
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Tags:#ترامب#كوريا الجنوبية#اتفاق اقتصادي#الطاقة#النفط#الاستثمار الأمريكي
Source: Middle East Eye
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