North Korea dreams of oil-funded security

Its capital Pyongyang lies nearly dark at night for lack of power, but North Korea could be sitting on enough oil to revive its moribund economy and fuel Chinese-style reforms, analysts and geologists say.

Years of isolation, which have earned it the nickname “the Hermit Kingdom”, mean most of its potentially oil-bearing areas are virtually unexplored. (…) Some geologists think it could have deposits similar to the rich reserves in China’s nearby Bohai Bay while shallow seas make drilling relatively easy.

Reuters