Taiwan’s Formosa Petrochemical Corp (FPCC) 6505.TW has started offering next year’s term supplies for 10ppm and 500ppm sulphur gasoil via a sale tender that closes next Monday, three sources with knowledge of the matter said on Thursday.

The refiner is seeking to sell at least one 750,000-barrel of 10ppm sulphur gasoil cargo and one 300,000-barrel of 500ppm sulphur gasoil cargo per month, they added.

Bids submitted have to be valid until next Friday.

The company typically does not comment on its commercial matters.

FPCC sold 2024 term supplies for 10ppm sulphur gasoil at premiums between 80 cents and $1 per barrel and 500ppm sulphur gasoil at discounts of nearly $4 a barrel to a western trading firm and some regional traders, Reuters records showed.
Source: Reuters (Reporting by Trixie Yap; Editing by Jacqueline Wong and Mrigank Dhaniwala)