Overview

Chinese Government donates 10,000 tons of diesel oil in 2003 (Linked to Record ID#73424, #73425, #73426)

Commitments (Constant USD, 2023)$5,125,949

Commitment Year•2003Country of Activity•Democratic People's Republic of KoreaDirect Recipient Country of Incorporation•Democratic People's Republic of KoreaSector•Industry, Mining, ConstructionFlow Type•Grant

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2003

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

China Ministry of Commerce

Receiving agencies

Government Agencies

Government of North Korea

Loan description

Chinese Government donates 10,000 tons of diesel oil in 2003 (Linked to Record ID#73424, #73425, #73426)

Narrative

Full Description

Project narrative

In July 2003, the Chinese Government decided to donate 10,000 tons of diesel oil to North Korea, according to the KCNA. This donation was verified by the Republic of Korea's Ministry of Unification. 10,000 tons of oil is equivalent to 73,000 barrels of oil. Therefore, to estimate the monetary value of this donation ($2,278,164), AidData takes the average price ($31.08) of a barrel of West Texas Intermediate (NYMEX) Crude Oil in 2003 and multiplies it by 73,000 barrels of oil.

Staff comments

This project is linked to other diesel oil donations captured in Record ID#73424, #73425, #73426.