Completed Development AidData Chinese Aid

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)

$5.44M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of North Korea
Country	Democratic People's Republic of Korea
Start Date	Jan 01, 2002
End Date	Jun 25, 2030
Duration	10,402 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73426`

Grant Description

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 Project ID#63333, #73424, #73425.

📚 Sources & References

To Fuel or Not to Fuel: China's Energy Assistance to North Korea
WTI Crude Oil Prices - 10 Year Daily Chart
Global price of Coal
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