Taiwan's CPC Corp offers gasoil for 2014 term

PHOTO: Taiwan's CPC Corp offers gasoil for 2014 term

SINGAPORE - Taiwan's CPC Corp has offered nearly 1 million barrels of high sulphur gasoil for its term contract for next year, a tender document showed on Thursday.

The company has offered a cargo of 240,000 barrels of the 0.25 percent sulphur gasoil for each quarter of 2014.

It might consider selling the better quality 500 ppm sulphur diesel on a case-by-case basis depending on cargo availability and price incentive, the document stated.

Bids are to be submitted by Nov. 18 and will remain valid until Nov. 22.

It was not immediately clear why the company did not offer specific volumes of the 500 ppm sulphur gasoil but could be related to the shutdown of its 30,000 barrels-per-day (bpd) residue desulphuriser unit at its Kaohsiung refinery.

The unit, which removes sulphur from crude oil and fuel oil to produce better quality fuel such as diesel, has been shut since late May following a fire.

CPC finalised its 2013 term contracts to supply 500 ppm sulphur gasoil at a premium of 20 to 30 cents a barrel above Singapore quotes and its 0.25 percent sulphur gasoil contract at a discount of about 50 cents a barrel.