Taiwan’s CPC Corp is seeking to sell jet fuel for export in March, its first such offer in nearly three years, three trade sources said on Tuesday.

The state-owned oil major issued a sales tender for either 100,000-150,000 barrels of jet fuel or 150,000 barrels of jet fuel and 150,000 tons of 10ppm sulphur gasoil sold as a combined cargo, they added.

Exact loading details could not be confirmed. The tender closes on February 19 with validity until February 20, one source said.

The rare move was attributed to the refiner having higher than expected stockpiles of the aviation and heating fuel, a second source added, though further details could not be confirmed.

CPC Corp typically has been a spot buyer of jet fuel, procuring up to four 300,000 barrel cargoes last year, Reuters tender records show.

The refiner last sold one 300,000 barrel cargo of 10ppm sulphur gasoil for March 16-22 loading at a discount of 20-30 cents a barrel.
Source: Reuters