Chinese Government donates 10,000 tons of diesel fuel in 2005
Commitment amount
$ 8973307.235316616
Adjusted commitment amount
$ 8973307.24
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
North Korea
Sector
Industry, mining, construction (Code: 320)
Flow type
Grant
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
The precise grant commitment date is unknown.
Number of official sources
2
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of North Korea [Government Agency]
Implementing agencies [Type]
Nanjing Tanker Corporation [State-owned Company]
Sinochem Corporation [State-owned Company]