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Latest News

Formosa sells 2 mln bbls Aug Oman crude after fire

Two of three crude distillation units (CDUs) are now operating.

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August 5, 2010 11:06 by



Taiwan’s Formosa Petrochemical Corp sold nearly 2.0 million barrels of Oman crude for August loading in the spot market after a blast forced it to shut its refinery in late July, trade sources said on Thursday.

The company declined to comment on the deal and it was not immediately known who the buyers were.

Formosa had said it would defer the arrival of one Very Large Crude Carrier (VLCC) to September from August, and another to the fourth quarter following the blast.

A Formosa spokesman told Reuters on Thursday that two of three crude distillation units (CDUs) are now operating.

Formosa has three CDUs, all of the same capacity, at its 540,000 barrel-per-day (bpd) refinery.

(Reporting by Judy Hua and Florence Tan; Editing by Ramthan Hussain)



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