May 17, 2017 / 5:12 AM / 2 months ago

BUZZ-Taiwan's Formosa could shut crude unit in July

1 Min Read

** Taiwan's Formosa Petrochemical Corp could shut one of three crude units for repairs in July, but the date is only tentative and not finalised, says company spokesman

** Asia's fifth-largest refinery by capacity at 540,000 barrels per day (bpd) is still reviewing the situation which includes its June stockpile levels due to commitment to its buyers

** It will buy less crude for July loading

** Formosa is a key gasoline, diesel and jet fuel exporter, but is Asia's top naphtha importer

** The Mailiao refinery is functioning at about 92 pct of its total capacity (Reuters Messaging: lipeng.seng.thomsonreuters.com@reuters.net)

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