‘More likely to happen in Lagaan, than...': Harsh Goenka mocks Trump's ‘Pakistan may sell oil to India' suggestion; here's the reality of Pak's ‘massive' reserves
Harsh Goenka, chairman of RPG Enterprises has mocked US President Donald Trump's suggestion that Pakistan may one day sell oil to India. Trump has said that America will help Pakistan build 'massive oil reserves' such that it may even sell to India some day.
Taking a witty dig on the statement, Goenka posted on X (formerly Twitter), 'Saying Pakistan will sell oil to India is like saying a tailender will hit a triple century in a T20 match. Technically possible. Realistically? More likely to happen in Lagaan than in real life.'
Earlier this week, Trump posted on Truth Social, '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 posted on Truth Social. "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!'
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Trump's deal with Pakistan imposes a 19% tariff on Pakistan's exports to the US.
The US-Pakistan deal comes at a time when India-US trade negotiations appear to have hit a deadlock. Trump has announced 25% tariffs on India, effective August 7, 2025. He has also said that an additional penalty will be levied for India's continued imports of Russia's oil and defence equipment. Trump administration officials have said that India's Russia oil buys are an 'irritant' for the US.
How 'Massive' Are Pakistan's Oil Reserves Really?
Trump's assertion about assisting Pakistan in building huge oil reserves for potential exports to India appears overly optimistic.
According to a TOI report, Pakistan has merely 0.02% of worldwide crude oil deposits.
Pakistan's daily oil production stands at approximately 70,000 barrels, which is less than 10% of India's output. Rather than being positioned as a prospective energy exporter, Pakistan's current standing in the international oil sector remains notably insignificant!
Oil Reserves: Pak Not Even a Drop
According to a Reuters report, Pakistan holds proven crude oil reserves of just between 234 million and 353 million barrels, placing it at the 50th position globally in terms of crude oil reserves.
For a contextual comparison, Venezuela possesses the world's largest crude oil reserves, at 303,221 million barrels, as per recent OPEC statistics! India's known crude oil reserves as of 2024 are around 4,800-4,900 million barrels, which exceeds Pakistan's reserves by more than tenfold!
Although Pakistan has time and again claimed that it has huge crude oil reserves along its coastline, actual extraction of these resources has never happened.
Pakistan continues to seek foreign investments to develop these potential resources.
Oil Refining: India at 4, Pakistan nowhere
Last year, Pakistan announced the finding of potentially substantial oil and natural gas reserves within its maritime territory. It suggested that these resources, if confirmed, could have a transformative impact on Pakistan's economic prospects.
A three-year underwater survey, conducted with support from an unnamed "friendly country," identified significant submerged geological structures indicating possible oil and gas deposits.
However, these preliminary findings currently lack verification.
The actual presence, volume and quality of these resources remain unconfirmed, as no commercial drilling activities have been undertaken to validate the initial survey results.
Oil Production: Miles Behind Even India
The structural geology of the Indus Basin, shaped by tectonic activity and rich in mudstone deposits, creates suitable conditions for finding hydrocarbons. Analysis of seismic data reveals significant source rocks and possible reservoirs, yet Pakistan has not achieved successful extraction in its offshore regions.
Earlier exploration efforts, including the Kekra-1 drilling operation, have not yielded positive results.
Pakistan presently depends on Middle Eastern countries for its petroleum requirements through imports. The country's oil import bill stands at $11.3 billion for the fiscal year ending June 30, 2025, which is actually its highest import expenditure. The country's central bank data indicates that petroleum imports constitute approximately 20% of Pakistan's overall import costs.
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After Donald Trump's 'massive oil reserves' deal, US to ship crude to Pakistan soon; here's why it's significant for Pak
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