Daily Management Review

China suspended oil supplies to North Korea in November


12/27/2017


China did not export petroleum products to North Korea in November, according to Chinese customs officials, probably by trying their best to adhere to the sanctions imposed by the UN against the DPRK, Reuters reports.



Ecow
Ecow
The tension broke out in connection with the continuing nuclear and missile programs of North Korea, which the United States consistently opposed. Last week, the UN Security Council adopted new restrictive measures on trade with North Korea, including a limit on the supply of petroleum products to the DPRK at the level of 500 thousand barrels per year.

Beijing also did not import iron ore, coal or lead from North Korea in November, the second full month of the latest trade sanctions imposed by the UN.

China, the main source of fuel for North Korea, last month did not export gasoline, jet fuel, diesel fuel or fuel oil to its isolated neighbor, according to the data of the Main Customs Administration of the People's Republic of China.

November was the second month in a row when China did not export diesel or gasoline to North Korea. The last time Chinese fuel supplies to Pyongyang were at zero in February 2015.

"This is the natural result of tightening various sanctions against North Korea," said an expert on North Korea at Fudan University in Shanghai. The tightening "reflects China's position," he said.

Since June, the state-owned China National Petroleum Corp (CNPC) has suspended sales of gasoline and diesel fuel to North Korea, fearing that it will not be paid for its goods.

In March 2003, China suspended oil supplies to North Korea within three days after Pyongyang launched a rocket into the waters between the Korean peninsula and Japan.

It is not known whether China will continue to sell crude oil to Pyongyang. For several years, Beijing has not disclosed the volume of exports of crude oil to North Korea.

Sources in the industry say that China still supplies about 520,000 tons, or 3.8 million barrels, of crude oil per year to North Korea through an aging pipeline. This is just over 10 thousand barrels a day and costs about $ 200 million a year at current prices.

source: reuters.com






Science & Technology

China is developing technology to capture greenhouse gases

IEA: The growth of renewable energy is slowing

Google introduces new smartphone and beta Android Q

SpaceX’s Dragon Crew Capsule Test Met With Anomaly

New Security Study Finds Millions Use 123456 As Password For Email Accounts

The Devastating Panama Disease Could Spell Extinction For Bananas

Walmart to hire 4 thousand robot cleaners

Samsung Galaxy Fold: Expensive but fragile

USA and South Korea launch the first commercial 5G networks

Deliveries of AR/VR devices to grow by 54% in 2019

World Politics

World & Politics

Theresa May to resign on June 7

The Earth Is ‘Not On Track’ To Tackle Global Warming: The U.N. Secretary General

Is Finland’s aging population turning the country into Japan?

The United States will impose new duties on Chinese goods on Friday

Jyrki Katainen: EU is not a milk cow

Oil lobby and the planet's future

Trump files a lawsuit against Deutsche Bank and Capital One

Trump Urged Abe To Influence Japanese Auto Firm To Produce More Vehicles In The U.S.