• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 8 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 11 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 15 mins Visualizing How Much Oil Is In An Electric Vehicle (Hint: a heckuva lot)
  • 1 hour Look at the LONGER TERM bigger picture of international oil & gas. Ignore temporary hiccups.
  • 4 mins Theresa May to Step Down
  • 11 hours Total nonsense in climate debate
  • 12 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 14 hours Will Canada drop Liberals, vote in Conservatives?
  • 1 day IMO 2020 could create fierce competition for scarce water resources
  • 15 hours Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
  • 15 hours Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 7 hours Australian Voters Reject 'Climate Change' Politicians
  • 11 hours Apple Boycott in China
The Myth Of Cheap Shale Oil

The Myth Of Cheap Shale Oil

According to the Federal Reserve…

Vietnam Is On The Verge Of An Energy Crisis

Vietnam Is On The Verge Of An Energy Crisis

As Vietnam looks down the…

North Korea Evades Sanctions With Elaborate Smuggling Strategy

Tanker

North Korea’s nuclear and ballistic missile program remains in tact while the country continues to defy United Nations resolutions with significantly increased illegal ship-to-ship oil and coal transfers, a UN Panel of Experts wrote in an annual report published this week.

“These violations render the latest United Nations sanctions ineffective by flouting the caps on the import of petroleum products and crude oil by the Democratic People’s Republic of Korea as well as the coal ban, imposed in 2017 by the Security Council in response to the country’s unprecedented nuclear and ballistic missile testing,” the UN report reads.

“Global banks and insurance companies continue to unwittingly facilitate payments and provide coverage for vessels involved in ever-larger, multi-million-dollar, illegal ship-to ship transfers of petroleum products, as well as an increasing number of ship-to-ship coal transfers and attempted transshipments,” according to the report.

North Korea is using increasingly advanced and inventive techniques to evade the oil sanctions, including manipulation of vessel AIS transmission systems, physical disguise of tankers, illegal name-changing and other forms of identity fraud, night transfers, and the use of additional vessels for transshipment, the panel of experts said in the report.

North Korea also “continues to violate the arms embargo and has attempted to supply small arms and light weapons and other military equipment to Houthi rebels in Yemen, as well as to Libya and the Sudan, via foreign intermediaries, including Syrian arms trafficker Hussein al-Ali in the case of the Houthi rebels,” the UN experts say.

Related: Is A Crisis Looming For Canadian Oil?

The United States welcomed the release of the report, saying that it “demonstrates the need for continued vigilance against entities involved in D.P.R.K. sanctions evasion activity.”

“International unity in implementing these sanctions continues to hamper the D.P.R.K.’s ability to further its illegal weapons of mass destruction programs and sends the message that the D.P.R.K. will be economically and diplomatically isolated until it denuclearizes,” Robert Palladino,
Deputy Spokesperson at the U.S. Department of State, said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News