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Taiwan's crude oil imports reach 24.3 mln barrels in Jul

Sep. 14, 2012 (China Knowledge) - Taiwan, which imports more than 99% of its crude oil needs, imported 24.3 million barrels of crude oil in July this year, up 10% compared with the same period of last year, according to statistics released by the Bureau of Energy of the island.

In July, the island's crude oil import volume increased 13% from June this year.

CPC Corp, a state-owned petroleum, natural gas, and gasoline company in Taiwan and the core of the Taiwanese petrochemicals industry, and Formosa Petrochemical Corp, Taiwan's only publicly traded oil refiner, processed a total of 4.3 million kiloliters of crude oil in July, reflecting a growth of 2.3% YoY.

Capacity utilization for the island's refiners was 69.95% in the month, up from the 65.69% recorded in June.

In 2011, Taiwan's crude oil imports decreased 9.3% YoY, due in part to a significant decline in imports from Iran.

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