-- Taiwanese state owned CPC said that four crude oil tankers carrying a combined 8 million barrels are set to begin arriving in Taiwan in early May, after rerouting away from the Strait of Hormuz, Taiwan News reported Monday.
CPC Chair Fang Chen-jen said the vessels will instead pass through the Bab el-Mandeb Strait, with shipments departing from the Red Sea starting in April. Deputy Economic Affairs Minister Lai Chien-hsin said the government has secured alternative crude sources from spot markets and non-Middle East suppliers as part of contingency planning, according to the report.
Officials added that Taiwan's oil reserves exceed 90 days of demand and natural gas stocks are above 11 days, indicating sufficient near-term energy security, the news outlet reported.
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