In April, Taiwan’s state-owned refiner CPC Corp. will cut its crude throughput rates by less than 10% as fuel demands are hit by the new coronavirus pandemic.
CPC’s two refineries, Talin and Taoyuan, have a collective capacity of 605,000 bpd with normal throughput rates around 70-80%.
Typically, the company supplies fuel to the domestic market and buys Middle East sour crude and sweet crude from West Africa and the United States by the third week of each month.
The company has not issued crude tenders in March to find cargoes for arrival in June. In February, CPCCPC bought 500,000 barrels of April-loading Upper Zakum crude, 3 million barrels of U.S. West Texas Intermediate Midland crude and 3 million barrels of Angola crude.
