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US Think Tank: N. Korea Has Oil Storage Capacity of 1.5 Mln Tons

Written: 2020-09-01 11:41:46Updated: 2020-09-01 14:05:35

US Think Tank: N. Korea Has Oil Storage Capacity of 1.5 Mln Tons

Photo : YONHAP News

A U.S.-based think tank says North Korea has a total oil storage capacity of up to one-point-five million tons, which is enough to cover the country’s annual consumption volume without outside assistance.

In its latest report on Tuesday, the Nautilus Institute for Security and Sustainability estimated the North can store one to one-point-five million tons of oil, based on satellite images and the Central Intelligence Agency’s(CIA) estimates.

The latest analysis suggests that the North could have several months' worth of oil in storage, even if the international community completely bans crude and refined oil exports to the communist country.

Current international sanctions restrict the amount of refined oil exports to the North to 500-thousand barrels, or around 66-thousand-500 tons a year.

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