Taiwan's state-owned refiner CPC said it received on 12 June its first certified carbon offset crude cargo.
CPC said it took delivery of approximately 1.05mn bl of Azeri crude from Azerbaijan's state-owned oil marketer Socar, with cradle-to-gate greenhouse gas (GHG) emissions being offset with carbon credits certified by the Verified Carbon Standard.
According to CPC, the entire trade, including GHG emissions calculations, offset quality and retirement, was independently certified as carbon neutral by certification company Intertek, as well as commodity certification specialist Climate Neutral Commodity.
CPC also said that this shipment follows the signing of a framework agreement between Socar and CPC to facilitate carbon offset operations for emissions related to crude deliveries.
Prior to the June cargo, Azeri crude was last imported into Taiwan in March 2021, according to Vortexa data. Taiwan typically sources the bulk of its crude imports from the Mideast Gulf, which accounted for 66pc of its intake in February.
CPC operates about 600,000 b/d of refining capacity across its Dalin and Taoyuan plants in Taiwan.
