U.S. Completes 500,000 Tons of Heavy Oil Shipment
The United States has delivered all of the 500,000 tons of heavy oil to the DPRK, which Washington promised Pyongyang to send under the Agreed Framework, the official Korean Central News Agency reported on Nov. 11.
The KCNA reported that this year's shipment of fuel oil to the DPRK by the U.S was completed by Nov. 6. Pyongyang also announced that the total amount of heavy oil sent by the U.S. since the adoption of the 1994 Agreed Framework comes to 2.15 million tons, adding that the delivered oil has been used for power generation and heat production.
In the 1994 Geneva Agreed Framework, the U.S. promised to construct two nuclear light-water reactors in the DPRK with a total generating capacity of approximately 2,000 MW(e) by 2003. In exchange, Pyongyang agreed to stop all its domestic nuclear development plan. As a compensation for energy loss due to the freeze of its planned nuclear power plants, Pyongyang accepted the U.S. pledge to supply 500,000 tons of heavy oil to the DPRK annually thereafter until the start of full-power operation of the first LWR.
The Korean Peninsula Energy Development Organization (KEDO), a U.S.-led international consortium, was set up to finance the deal.
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