Formosa Sells Ultra Low-Sulfur Diesel Under 2012 Term Contracts

Formosa Petrochemical Corp. awarded contracts to supply ultra-low-sulfur diesel to three companies in 2012, a company official said, asking not to be identified because of internal rules.

Formosa is Taiwan’s only publicly traded oil refiner. Details of the sale are as follow:

Product:  Gasoil with sulfur content of 10 parts per million
          or 0.001 percent
Quantity: 500,000 barrels or 2 x 300,000 barrels per quarter
Price:    $2.40 a barrel above Singapore quotes
          for 0.5 percent sulfur grade
Buyers:   ConocoPhillips, Royal Dutch Shell Plc, Vitol Group
Loading:  2012 from Mailiao, Taiwan
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