RoydadNaft –  US president Donald Trump said on July 30 that the US has concluded a trade deal with Pakistan, saying that the two countries will work together to developing “massive oil reserves” allegedly in Pakistan.

“We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves,” Trump wrote on his Truth Social app.

“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 some day!” he added.

The reference to India must come as a bitter pill to swallow for New Delhi which was told a day ago that it would face a 25% tariff, plus a penalty, starting August 1.

The Dawn newspaper in Pakistan has noted that although Pakistan has long claimed to have large oil deposits along its coast, this marks the first high-level move towards tapping them.

The newspaper has noted how over the last few weeks, local and international media have reported a “massive” oil and gas find in the offshore territory of Pakistan, which could be the “fourth largest” oil and gas reserve in the world.

The Pakistan embassy in Washington DC announced the decision hours after Trump did with a post on X:

“The breakthrough was reached during a meeting of Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, with U.S. Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington, D.C. today. Secretary Commerce Jawad Paul and Pak Ambassador to the United States Ambassador Rizwan Saeed Sheikh were also present during the meeting,” it said.

Without explicitly mentioning oil reserves, the embassy said:

“This deal marks the beginning of a new era of economic collaboration especially in energy, mines and mineral, IT, cryptocurrency and other sectors.”

The embassy also expressed hope of broadening the scope of Pakistan-US economic ties.

“Additionally, the deal is expected to spur increased U.S. investment in Pakistan’s infrastructure and development projects. This trade agreement underscores the commitment of both nations to deepen their bilateral relationship and explore all avenues for strengthening trade and investment,” it said.