Northland Expands Offshore Wind Pipeline in Asia
Canadian power producer Northland Power will acquire Dado Ocean Wind Farm, a development company with multiple early-stage offshore wind development sites in South Korea.Dado Ocean is currently owned by Eui Jeong Hwang, a wind power developer who will continue to support the project as a local partner, working together with Northland to achieve key milestones for the project. The acquisition is expected to close in the coming weeks, subject to customary closing conditions.According to Northland, the acquisition builds on the company's presence in Asia and specifically in South Korea.
Russian Pipeline: Bringing Gas and Building Trust
A discussion over energy at the summit last week between Russian President Vladimir Putin and North Korean leader Kim Jong-un has excited the government in South Korea, where the government is desperately looking to entice the North Koreans to come in out of the cold.Among the topics that came up was access for the North Koreans to Russian electricity supplies and the question of North Korea allowing the Russians to build a pipeline that would ship natural gas from Vladivostok, where the summit was held, through…
Suspect Involved in N. Korean Oil Smuggling Released on Bail
A court in Taiwan has released on bail a man prosecutors allege to have made false declarations in the case of a Hong Kong-flagged tanker suspected of transferring oil to North Korea in violation of international sanctions. The man, surnamed Chen, said the vessel was bound for Hong Kong, despite knowing it was bound for international waters to traffic oil products, the prosecutors' office in the southern city of Kaohsiung said on Wednesday. "The suspicion of crime is great," it said in a statement, adding that he faced further investigation, but without giving a reason for the decision to grant bail of T$1.5 million ($50,700).
Taiwan Releases Suspect in North Korean Oil Transfer
A court in Taiwan has released on bail a man prosecutors allege to have made false declarations in the case of a Hong Kong-flagged tanker suspected of transferring oil to North Korea in violation of international sanctions. The man, surnamed Chen, said the vessel was bound for Hong Kong, despite knowing it was bound for international waters to traffic oil products, the prosecutors' office in the southern city of Kaohsiung said on Wednesday. "The suspicion of crime is great," it said in a statement, adding that he faced further investigation, but without giving a reason for the decision to grant bail of T$1.5 million ($50,700).
China Denies Selling Oil Illicitly to N.Korea
China on Friday denied reports it has been illicitly selling oil products to North Korea after U.S. President Donald Trump said he was not happy that China had allowed oil to reach the isolated nation. Trump said on Twitter the previous day that China had been "caught" allowing oil into North Korea and that would prevent "a friendly solution" to the crisis over North Korea's nuclear and missile programmes that it conducts in defiance of heavy U.N. Security Council sanctions. "I have been soft on China because the only thing more important to me than trade is war," Trump said in a separate interview with The New York Times.
UN: Fresh Oil Import Sanctions on North Korea
(Reuters) -- The U.N. Security Council on Friday unanimously imposed new sanctions on North Korea following its latest intercontinental ballistic missile test, a move that analysts said could have a significant impact on the isolated country's struggling economy. The resolution seeks to ban nearly 90 percent of refined petroleum product exports to North Korea by capping them at 500,000 barrels a year and demands the repatriation of North Koreans working abroad within 12 months. The U.S.-drafted resolution would also cap crude oil supplies to North Korea at 4 million barrels a year.
China & S. Korea Restate Opposition to Nuclear Weapon Development
Chinese President Xi Jinping with South Korean President Park Geun-hye Thursday reiterated firmly opposed to the development of nuclear weapons on the Korean Peninsula, while undertaking efforts to complete FTA negotiations before the end. Xi Jinping's visit aimed at strengthening trade and diplomatic relations between the two countries, but also intended to South Korea that China will continue to put pressure on North Korea for its nuclear program. Two in talks with reporters after a brief meeting said they strongly oppose the development of nuclear weapons on the Korean peninsula. Xi did not mention North Korea.
