Taiwan Resumes Importing Iranian Oil in November
December 13 2012 - 10:19PM
Dow Jones News
By Jenny W. Hsu
TAIPEI--Taiwan resumed Iranian crude-oil imports in
November--ending a seven-month moratorium after winning an
exemption from U.S. sanctions.
State-owned CPC Corp. purchased 2 million-barrels of Iranian
crude loaded last month, the Bureau of Energy said Friday.
Formosa Petrochemical Corp. (6505.TW) bought approximately 2
million-barrels of Iranian crude to be loaded by the end of
December, company spokesman K. Y. Lin said Friday.
"Due to risk diversification, we will continue to buy Iranian
crude but the volume will decrease on a yearly basis in accordance
to government's pledge to reduce oil trade with Iran over its
nuclear program," Mr. Lin said.
Write to Jenny W. Hsu at jenny.hsu@dowjones.com
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