A Review of the Nigerian Energy Industry

China’s oil cut export to North Korea begins today

*Ambassador Nikki Haley addressing the UN Security Council.

OpeOluwani Akintayo

06 January 2018, Sweetcrude, Lagos — China’s oil exports limit to North Korea begins today, according to a statement released by its oil ministry.

The Chinese government’s ministry on Friday had said it will cut exports of crude oil, refined oil products, steel and other metals to North Korea as it obeys tough new sanction imposed by the United Nations for Pyongyang’s missile tests.

China’s statement came after the U.N Security Council last month voted to penalise North Korea for its intercontinental ballistic missile test, asking that the country’s access to refined petroleum products and crude oil be limited.

The country said it would continue to adhere to the recent U.N. sanctions.

On Friday, North Korea had also said it will hold official talks with South Korea next week, the first in more than two years.

In November, China, one of North Korea’s top trading partners, exported no oil products to the country.

The U.N. in December had also prohibited nearly 90 percent of refined petroleum exports to North Korea by capping them at 500,000 barrels a year and limits crude oil supplies to 4 million barrels a year.

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