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Working Paper
North Korea’s Petroleum Industry: Facilities, Demand/Supply, Distribution and UN Sanctions

December 30, 2019

  • Author Kyung Sool Kim
  • Language English
PDF
Working Paper
North Korea’s Petroleum Industry: Facilities, Demand/Supply, Distribution and UN Sanctions

December 30, 2019

  • Author Kyung Sool Kim
  • Language English
PDF
    Abstract

    I. Introduction

    II. Petroleum Supply and Demand in North Korea

    Ⅲ. Petroleum Industry of North Korea

    IV. Petroleum Distribution in North Korea

    V. UNSC Petroleum Sanctions against North Korea

    VI. Conclusion

    Bibliography
North Korea has two crude oil refining facilities of which total capacity is known as 3.5 million ton of oil per year. Seungri chemical plant, which has a 2 million ton of oil capacity, has ceased its production since early 1990 while Bongwha chemical plant of which capacity is 1.5 million ton of oil is partially under operation. Around 0.5 million ton of crude oil is delivered to Bonghwa plant every year through a North Korea-China Friendship Pipeline. The sum of petroleum products from crude oil refining in Bongwha chemical plant and petroleum products imported officially are the total official supply of petroleum products in the country. However, as the market demand rapidly increases, the supply and demand are subsequently adjusted via diverse smuggling routes. Thus, the structure of oil industry of North Korea consists of two different structure, official supply of government and unofficial smuggling of market. United Nations Security Council resolution 2397 which limits refined oil import to 0.5 million barrel per year is considered as a critical barrier for North Korean economy.
 
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The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

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  • CHO, Byungkoo On leave

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    Research Associate

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    Research Associate

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