Formosa Petrochemical Corporation

"Formosa Petrochemical will not buy Iranian oil despite being able to benefit from a U.S. sanctions waiver, it said on Thursday, citing the lack of a payment mechanism. The Taiwanese refiner will replace part of the Iranian oil with Iraqi crude, Formosa spokesman KY Lin told Reuters." (11/29/2018)

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In 2017 the U.S. states of South Carolina and Tennessee listed Formosa Petrochemical on its state list of companies doing business with Iran, rendering Formosa ineligible for investment and/or state contracting

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