US continues North Korean fuel oil shipments

By OGJ editors

WASHINGTON, DC, Oct. 23 -- It's too soon to say whether new revelations by North Korea of a nuclear weapons program will spur US moves to suspend a fuel oil supply agreement, said US officials.

"There are many parties with equities in (the Korean Energy Development Organization), including South Korea, Japan, and the European Union," said Department of State spokesman Richard Boucher at a press briefing Monday. "We're consulting with friends and allies about next steps for KEDO, but we haven't made the decisions."

The US provides 500,000 tons of fuel oil each year to North Korea as part of a 1994 international agreement, under which North Korea was to stop building nuclear reactors that could be used for military purposes. Last week the US allowed a 43,500 metric ton shipment to be delivered, and officials said there may be future shipments while the US talks with its allies to find a diplomatic solution. President George W. Bush is scheduled to meet with leaders of China, Japan, Russia, and South Korea in coming weeks.

On Oct. 4, the North Korean government said the 8-year agreement was "nullified" after the US said it had evidence that a nuclear weapons program was continuing, despite the KEDO agreement.

Related Articles

WoodMac: US tight-oil market ‘too robust to bust’

03/25/2014 A drop in global oil price levels or a significant widening of the differential between global oil prices and inland realizations are just two of t...

Gorder named Valero chief executive officer


Joe Gorder, Valero Energy Corp. president and chief operating officer, has been named chief executive officer, succeeding Bill Klesse.

Double Eagle changes name, appoints chief executive officer

03/25/2014 Double Eagle Petroleum Co., Denver, has appointed Charles F. Chambers to the position of chairman and chief executive officer, effective Apr. 1. As...

MOL closes purchase of North Sea assets from Wintershall

03/25/2014 MOL Group, Budapest, has completed its transaction with Wintershall, Kassell, Germany, in which MOL acquires offshore assets with 14 licenses in th...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected