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

$2.28M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of North Korea
Country	Democratic People's Republic of Korea
Start Date	Jan 01, 2003
End Date	Feb 13, 2028
Duration	9,174 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`63333`

Grant Description

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 Project ID#73424, #73425, #73426.

📚 Sources & References

Chinese government to donate diesel oil to DPRK
To Fuel or Not to Fuel: China's Energy Assistance to North Korea
WTI Crude Oil Prices - 10 Year Daily Chart Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.