CPC Citigroup Prfd C

  By Jenny W. Hsu 
 

TAIPEI--Taiwan resumed Iranian crude-oil imports in November--ending a seven-month moratorium after winning an exemption from U.S. sanctions.

State-owned CPC Corp. purchased 2 million-barrels of Iranian crude loaded last month, the Bureau of Energy said Friday.

Formosa Petrochemical Corp. (6505.TW) bought approximately 2 million-barrels of Iranian crude to be loaded by the end of December, company spokesman K. Y. Lin said Friday.

"Due to risk diversification, we will continue to buy Iranian crude but the volume will decrease on a yearly basis in accordance to government's pledge to reduce oil trade with Iran over its nuclear program," Mr. Lin said.

Write to Jenny W. Hsu at jenny.hsu@dowjones.com

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