Bloomberg News

Taiwan’s Oil Imports From Iran Surge Following Halt in February

May 16, 2012

Taiwan resumed oil imports from Iran in March after ceasing purchases a month earlier, according to data from Ministry of Economic Affairs.

The island nation bought 95,581 barrels a day from Iran in March, data from the Bureau of Energy under the ministry showed. Taiwan’s March purchases amounted to three times the 31,935 barrels a day it bought in January and the 30,247-barrel average in 2011.

Iranian crude imports declined 2 percent to 43,440 barrels a day in the first quarter, according to the data. CPC Corp., Taiwan’s state-run refiner, plans to stop importing oil from the Persian Gulf nation in July because of U.S.-led sanctions, company President Lin Maw-wen said March 26.

To contact the reporter on this story: Winnie Zhu in singapore at wzhu4@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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