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Updated Tuesday, March 9, 2010 11:09 am TWN, Bloomberg

Taiwan Feb. oil imports fall on Lunar New Year holiday

TAIPEI, Taiwan -- Taiwan, which imports more than 99 percent of its crude oil needs, reduced purchases of the fuel last month as the Lunar New Year holiday cut the number of working days. Shipments fell 36.8 percent from a year earlier to 17.45 million barrels, the Ministry of Finance said in Taipei Monday. The island's February bill climbed 17.4 percent to US$1.37 billion, the ministry said in a statement.

The weeklong holiday, during which government offices were closed, fell in February this year and January in 2009. Oil imports dropped also as CPC Corp., the island's state-run refiner, had shut a gasoline-making unit in Kaohsiung, southern Taiwan, from early October on weak demand.

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