Taiwan increases KBT crude imports from Iraqi Kurdistan after OPEC cuts

in BreakingNews @en by

Taiwan is increasing oil imports from Iraqi Kurdistan as local refiners take advantage of an open arbitrage to buy high-sulphur crude that can replace supplies cut by OPEC. State-owned CPC Corp bought 1 million barrels of Kurdish KBT crude for the first time in the second quarter, and Formosa Petrochemical Corp has resumed purchases of this grade after a near nine-month break, company officials said.

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