Overview

Chinese Government donates 5,000 tons of diesel fuel to North Korea in 2008

Commitments (Constant USD, 2023)$5,123,863

Commitment Year•2008Country 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

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2008

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

Sinochem Corporation

Loan description

Chinese Government donates 5,000 tons of diesel fuel to North Korea in 2008

Narrative

Full Description

Project narrative

On July 25, 2008, the Tender Committee of China’s Ministry of Commerce identified Sinochem Corporation as the winning bidder for a grant-finance project to deliver 5,000 tons of diesel fuel to North Korea. On August 22, 2008, MOFCOM approved the general contract price for the project. It is unclear if and when this project was implemented. 5,000 tons of oil is equivalent to 36,500 barrels of oil. Therefore, to estimate the monetary value of this donation ($3,637,955), AidData takes the average price ($99.67) of a barrel of West Texas Intermediate (NYMEX) Crude Oil in 2008 and multiplies it by 36,500 barrels of oil.

Staff comments

The Chinese project title is 援朝鲜柴油项目.