Overview

Chinese Government donates 25,000 tons of diesel oil and 22,000 tons of coking coal in 2002 (Linked to Record ID#63333, #73424, #73425)

Commitments (Constant USD, 2023)$12,557,590

Commitment Year•2002Country 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, 2002

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 25,000 tons of diesel oil and 22,000 tons of coking coal in 2002 (Linked to Record ID#63333, #73424, #73425)

Narrative

Full Description

Project narrative

In 2002, the Chinese Government decided to donate 25,000 tons of diesel oil and 22,000 tons of coking coal to North Korea, according to the KCNA. This donation was verified by the Republic of Korea's Ministry of Unification. 25,000 tons of oil is equivalent to 183,250 barrels of oil. Therefore, to estimate the monetary value of the diesel oil donation ($4,799,317.50), AidData takes the average price ($26.19) of a barrel of West Texas Intermediate (NYMEX) Crude Oil in 2002 and multiplies it by 183,250 barrels of oil. To estimate the monetary value of the coking coal donation ($640,200), AidData takes the international price of a ton of coal in January 2002 ($29.10) and multiplies it by 22,000 tons. Therefore, AidData estimates the monetary value of this donation as $5,439,517.50.

Staff comments

This project is linked to other diesel oil donation projects captured in Record ID#63333, #73424, #73425.