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

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), 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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