Chinese Government donates 50,000 tons of fuel oil in 2009 (Linked to Record ID#63004, #63390)

$22.61M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of North Korea
Country	Democratic People's Republic of Korea
Start Date	Jan 01, 2009
End Date	Aug 30, 2027
Duration	6,815 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`63382`

Grant Description

In October 2009, when Premier Wen Jiabao visited North Korea, an agreement was reached in which the Chinese Government committed to donate 30,000 tons of food (captured via Record ID#63004), 50,000 tons of fuel oil (captured via Record ID#63382), and 80,000 tons of high-quality coal (captured via Record ID#63390) to the Government of North Korea.

It is unclear if and when this project was implemented. 50,000 tons of oil is equivalent to 365,000 barrels of oil.

Therefore, to estimate the monetary value of this donation ($22,611,750), AidData takes the average price ($61.95) of a barrel of West Texas Intermediate (NYMEX) Crude Oil in 2007 and multiplies it by 365,000 barrels of oil.

📚 Sources & References

China’s Aid to North Korea — Centered on the China-North Korea Oil Pipeline
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.