World · Middle East Eye · · 3h
Trump announces $8.4bn oil project under South Korea deal
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Trump announces $8.4bn oil project under South Korea deal
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.
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Source: Middle East Eye