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FPCC Considers Reduction in Refinery Processing On Weak Gasoline Margins

REFINING

Taiwan’s Formosa Petrochemical Corp. considers reducing overall refinery processing rates by 5% due to weak gasoline margins according to Bloomberg citing spokesperson Lin Keh Yen.

  • The cut of 5% from November would be relative to the October level with operations running at 100% this month.
  • The ongoing high cost of feedstock such as vacuum gasoil for its residue catalytic cracker is adding to the weak margins.
  • No final decision on the cut has yet been made with any curbs to refinery operations minimal with margins for gasoil and jet fuel still elevated above 20$/bbl, said Lin.
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