Chinese Government donates 45,000 tons of diesel oil in 2001 (Linked to Record ID#63333, #73424, #73426)

$8.57M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of North Korea
Country	Democratic People's Republic of Korea
Start Date	Jan 01, 2001
End Date	Aug 06, 2031
Duration	11,174 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73425`

Grant Description

In 2001, the Chinese Government decided to donate 45,000 tons of diesel oil to North Korea, according to the KCNA.

This donation was verified by the Republic of Korea's Ministry of Unification. 45,000 tons of oil is equivalent to 329,850 barrels of oil.

Therefore, to estimate the monetary value of this donation ($8,569,503), AidData takes the average price ($25.98) of a barrel of West Texas Intermediate (NYMEX) Crude Oil in 2001 and multiplies it by 329,850 barrels of oil.

📋 Staff Comments

This project is linked to other diesel oil donation projects captured in Project ID#63333, #73424, #73426.

📚 Sources & References

To Fuel or Not to Fuel: China's Energy Assistance to North Korea
WTI Crude Oil Prices - 10 Year Daily Chart Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.