Taiwan Area ,China’s CPC Corp is seeking gasoil via a purchase tender for delivery in the first half of November, a rare move as the oil major typically exports, two sources with direct knowledge of the matter said on Friday.
The state-owned refiner issued a tender to buy one 300,000-barrel cargo of 10ppm-sulphur gasoil for November 1-12 delivery, the sources said.
The tender closes November 7, with offers to have validity until November 9.
The rare buying move is due to larger than expected production losses when the refiner brings offline one of the crude units at its Talin site for maintenance soon, one of the two sources said.
CPC Corp had earlier already bought two 300,000-barrel jet fuel cargoes for September and October delivery at premiums of $1-1.50 a barrel linked to Singapore quotes, according to Reuters tender records.
Source: Reuters
