Taiwan CPC buys crude before startup of new refining units
SINGAPORE (Reuters) -- Taiwanese refiner CPC Corp has purchased spot crude to prepare for the start-up of new refining units expected in the first quarter, three trade sources said.
The refiner had bought three 500,000-barrel cargoes of Upper Zakum crude for loading in December and has purchased at least a 500,000-barrel cargo each of Upper Zakum and Oman crude to be lifted in January, they said.
CPC planned to start trial runs at its new 150,000-bpd crude distillation unit (CDU) at its Talin refinery in January, the sources said.
Other new units at the site, which includes two hydrotreaters with a total capacity of 70,000 bpd, and a 50,000 bpd condensate splitter, could commence trial operations a month later, they said.
The splitter will be processing South Pars condensate to be supplied by the National Iranian Oil Company under a term agreement, one of the sources said.
CPC's spokesman could not be immediately reached for comment.
Reporting by Florence Tan; Editing by Christian Schmollinger
Comments