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Taiwan’s Formosa seeks naphtha; crackers at full-tilt

Friday, 12 April 2019 | 20:00

Taiwan’s Formosa Petrochemical Corp is seeking naphtha for its crackers which continued to operate at full capacity this week following a fire at a sister company on Sunday, traders said on Friday.

Asia’s top naphtha importer is looking to buy the fuel for second-half May arrival at Mailiao in a tender closing on April 12, with offers valid until April 15, a document showed.

The plant site of Formosa Chemicals & Fibre Corp (FCFC), a sister company of Formosa Petrochemical Corp, was affected by a gas leak which resulted in a fire.

FCFC off takes pyrolysis gasoline, or pygas, a by-product from naphtha cracking, from Formosa Petrochemical Corp.

For now, Formosa Petrochemical has sufficient space to store pygas, said industry sources, adding that it could also look for third parties to buy the pygas.
Source: Reuters (Reporting by Seng Li Peng; Editing by Subhranshu Sahu)

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