TAIPEI (Taiwan News) — CPC Corp. said Monday that four crude oil tankers will begin arriving in Taiwan in early May.
CPC Chair Fang Chen-jen (方振仁) said the vessels will avoid the Strait of Hormuz and instead sail through the Bab el-Mandeb Strait, per CNA. The tankers, carrying a combined 8 million barrels of crude oil, are scheduled to depart from the Red Sea starting in April.
The update came during a Legislative Yuan Finance Committee briefing on the impact of the Middle East conflict, where lawmakers raised concerns over supply stability.
Deputy Economic Affairs Minister Lai Chien-hsin (賴建信) said the government is preparing for multiple scenarios, including a possible closure of the Strait of Hormuz. He said alternative supply sources have been secured from spot markets and non-Middle East suppliers.
KMT Legislator Lai Shyh-bao (賴士葆) said oil and liquefied natural gas shipments have continued to arrive as scheduled. He added that daily meetings are being held to monitor developments.
Lai Shyh-bao said Taiwan is also increasing energy imports from the US, which now account for about 60% of supply. However, he noted that low-sulfur US crude must be blended with other grades, and adjustments are still being evaluated.
Lai Chien-hsin said domestic energy reserves remain above safe levels, with oil stocks exceeding 90 days and natural gas supplies exceeding 11 days, per TVBS.
