November 29, 2019 / 12:00 PM / 3 months ago

UPDATE 1-Trafigura wins major 2020 tender to supply Taiwan's CPC with U.S. crude

(Adds Trafigura quote)

SINGAPORE, Nov 29 (Reuters) -

* Taiwanese refiner CPC Corp has bought U.S. West Texas Intermediate (WTI) Midland crude from trading house Trafigura for delivery between March and December via a tender, a Trafigura spokeswoman said on Friday

* The refiner will receive 2 million barrels of the crude per month over the period, or about 67,000 barrels per day

* The crude was bought at a premium of below $1 a barrel based on CPC’s pricing formula

* “The award of this tender which is significant in terms of its size and time period demonstrates and makes use of Trafigura’s infrastructure and logistical expertise to supply U.S. Crude oil to customers in Asia,” Kevin Jebbitt, Head of Crude Oil Trading said. “Trafigura globally markets over 400,000 barrels each day of U.S. Midland Crude oil via our long-term contract on the Cactus II pipeline.” (Reporting By Shu Zhang; Editing by Himani Sarkar and David Evans)

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