https://www.eia.gov/international/overview/country/TWN
I heard that FT wrote an article talking about that CPC Corporation might be interested on signing a oil deal with Somaliland?
It would be a game changer if they also setup a Refinery in Berbera. That would help us dominate the regional fuel needs.
Very interesting article about Taiwanese Oil industry.
West African oilfields are for the most part offshore and the oil storage tanks are set up on top of ocean platforms with very limited capacity. If a tanker should be delayed and not arrive as scheduled, the storage tanks cannot be emptied on time and, with the tanks full, the entire oilfield has to stop production. When this happens not only does the driller suffer disastrous losses, the buyer who has missed the window must pay a huge compensation. Because the allowable window is very short, buying oil from West Africa can be described as “a nerve-wracking fight against time.”
“Sometimes we just cannot make it and it is best to quickly do a ‘swap’ with a tanker from another country that has arrived before ours so they can load up first,” says Stanley Shih. His closest call was once when a tanker arrived late in the Congo for an oil purchase. To keep the field pumping, the oil company diverted the oil to a half-empty storage tank holding a different grade of oil and so kept losses to a minimum. Because of CPC’s excellent international reputation, the supplier did not make a claim for compensation, which was a stroke of good luck.
