Formosa Sells Jet Fuel for May Loading to Gracewood

Formosa Petrochemical Corp. sold a jet-fuel cargo for May loading to Gracewood International Ltd. above benchmark Singapore prices, said a Formosa official who asked not to be identified citing company policy.

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

Product:  Jet fuel, A-1 grade
Quantity: 300,000 barrels
Loading:  May 13 to May 17
Port:     Mailiao, Taiwan
Price:    5 cents a barrel over Platts Singapore quotes
Buyer:    Gracewood International Ltd.
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