Bloomberg News

Taiwan’s CPC Said to Buy 5 Million Barrels of Angolan Crude

June 21, 2012

CPC Corp., a Taiwan state-run oil company, bought 5 million barrels of Angolan crude for loading in August via a tender, according to five traders who participate in the market.

The company bought 3 million barrels of Cabinda and 2 million barrels of the Nemba grade, according to the people, who declined to be identified because the information is confidential. CPC awarded the tender to Chevron Corp. (CVX:US), Total SA (FP) and Eni SpA. (ENI)

CPC also bought 1 million barrels of Caspian Azeri Light crude from Socar Trading SA, they said.

Details of the purchases are as follows:

----------------------------------------------------------------
Crude:    Cabinda
Quantity: 1 million barrels
Loading:  Aug. 2 to Aug. 3
Seller:   Eni
----------------------------------------------------------------
Crude:    Cabinda
Quantity: 1 million barrels
Loading:  Aug. 12 to Aug. 13
Seller:   Chevron
----------------------------------------------------------------
Crude:    Cabinda
Quantity: 1 million barrels
Loading:  Aug. 22 to Aug. 23
Seller:   Chevron
----------------------------------------------------------------
Crude:    Nemba
Quantity: 1 million barrels
Loading:  Aug. 14 to Aug. 15
Seller:   Total
----------------------------------------------------------------
Crude:    Nemba
Quantity: 1 million barrels
Loading:  Aug. 23 to Aug. 24
Seller:   Chevron
----------------------------------------------------------------
Crude:    Azeri Light
Quantity: 1 million barrels
Loading:  August
Seller:   Socar
----------------------------------------------------------------

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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