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Chinese Government donates 5,000 tons of diesel fuel to North Korea in 2008
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of North Korea |
| Country | Democratic People's Republic of Korea |
| Start Date | Jan 01, 2008 |
| End Date | Oct 25, 2027 |
| Duration | 7,237 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 63378 |
Grant Description
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.
Sources & References
- 商务部对外援助项目招标委员会通告2008年第25号
- 商务部对外援助项目招标委员会通告2008年第28号
- 援朝鲜5000吨柴油项目招标工作结束
- 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.
All Grantees
Government of North Korea
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