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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    For the first time .. Taiwan company buys US crude instead of Iraqi oil

    Rocky
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    For the first time .. Taiwan company buys US crude instead of Iraqi oil Empty For the first time .. Taiwan company buys US crude instead of Iraqi oil

    Post by Rocky Mon 23 Jul 2018, 6:43 pm

    For the first time .. Taiwan company buys US crude instead of Iraqi oil


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    A spokesman for Formosa Petrochemical of Taiwanese oil refining KWLIN said on Monday that the company bought a US crude oil shipment for the first time as an alternative to Middle East oil.
    "The company bought 1 million barrels of March American crude for delivery between the second half of September and the second half of October because it is a competitor to the price of Middle East crude," KWLIN said in a statement.
    "The refining margins from the US March crude refining are very close to those of Basra and the sulfur component is also lower in US crude than in Basra," he said in response to a question on Basra's light crude oil, which the refinery buys almost every month on the spot market. "He said.
    "We will test US crude in our refineries to see if it is appropriate, and then decide whether we will add it to immediate purchases in the future," the spokesman said.
    Formosa joins several refining companies across Asia that are testing and increasing imports of new US raw materials as the United States raises production to its highest level this year, while China, the second largest buyer of US crude after Canada, cuts its imports in a trade war.
    According to the agency, US crude has become more competitive in Asia after the Organization of the Petroleum Exporting Countries (OPEC) and Russia reduced production in the first half of the year, which pushed prices of crude prices from the Middle East and Russia's Far East to rise. Ending / 25



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