17:51 - 13.06.2022

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June 13, Fineko/abc.az. Taiwan's state refiner, CPC Corp, said it had received the country's first crude cargo with certified carbon offset from SOCAR Trading, the trading arm of Azerbaijan's state oil company.

ABC.AZ reports that the cargo of about 1.05 million barrels of Azeri Light crude oil arrived in Taiwan on Sunday morning with cradle-to-gate greenhouse gas (GHG) emissions being offset with carbon credits certified by the Verified Carbon Standard (VCS), CPC said on its website.

The GHG emissions were calculated with Deloitte and Siglar Carbon, CPC said.

SOCAR Trading arranged and structured VCS registered carbon offset supply and retirement, the refiner said, without elaborating on the cost of the offset.