Taiwan CPC To Set Up Oil, LNG Trade Units In Dubai, Qatar - Gulf Business
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Taiwan CPC To Set Up Oil, LNG Trade Units In Dubai, Qatar

Taiwan CPC To Set Up Oil, LNG Trade Units In Dubai, Qatar

The company expects to set up offices by the end of this year.

Taiwan’s state-owned refiner CPC Corp plans to set up offices in Dubai and Qatar by the end of this year as it expands operations outside of Asia, a senior company official said on Tuesday.

The new offices will handle crude and liquefied natural gas (LNG) procurement, as well as oil trading, said the official, who declined to be named due to company policy.

“The Middle East has been developing faster than before, and the DME is also in Dubai,” said the official, referring to the Dubai Mercantile Exchange, where Oman crude futures trade.

In Qatar, CPC already has a stake in the Qatar Fuel Additives Company and buys LNG from the world’s top supplier.

CPC opened a trading office in Singapore in 2012 to tap into growing demand in Asia for its petroleum product exports.

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