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Overview

Chinese Government donates 10,000 tons of diesel fuel in 2005

Commitments (Constant USD, 2023)$8,287,345
Commitment Year•2005Country 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
Oct 10, 2005
End (actual)
Oct 11, 2005

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

Implementing agencies

State-owned companies

  • Nanjing Tanker Corporation
  • Sinochem Corporation

Loan description

Chinese Government donates 10,000 tons of diesel fuel in 2005

Narrative

Full Description

Project narrative

In October 2005, on the 60th anniversary of the Korean Worker's Party, the Chinese Government donated 10,000 tons of diesel fuel to North Korea. The diesel was delivered on October 10, 2005 and October 11, 2005 by the Nanjing Tanker Corporation (中国长航南京长江油运公司) on short notice from Sinochem Corporation to North Korea. Two 5,000-ton oil tankers (Daqing 434 and 438) were deployed to carry out this task. After inspection, the cargo quality of Daqing 434 and Daqing 438 was highly praised by the North Korean government. 10,000 tons of oil is equivalent to 73,000 barrels of oil. Therefore, to estimate the monetary value of this donation ($4,134,720), AidData takes the average price ($56.64) of a barrel of West Texas Intermediate (NYMEX) Crude Oil in 2005 and multiplies it by 73,000 barrels of oil.

Staff comments

The precise grant commitment date is unknown.