SINGAPORE, March 17 (Reuters) - Taiwanese refiner Formosa Petrochemical has bought 12 million barrels of Iraqi Basra Light crude and its first Colombia Vasconia crude via tenders, trade sources said on Tuesday.
Royal Dutch Shell will deliver the Basra Light cargoes in six shipments between May and December, they said, at about 30 cents a barrel below the grade’s official selling price (OSP) on a delivered basis.
Formosa also bought separately its first Vasconia crude cargo from European trader Gunvor at about $1.50 a barrel below Dubai quotes on a cost and freight (C&F) basis, the sources said. The 700,000-barrel cargo will be delivered to Formosa in May.
Reporting by Florence Tan; Editing by Michael Perry