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Taiwan's Formosa Cuts Runs on Weak Asian Margins

REFINING

Taiwan's Formosa Petrochemical intends to cut run rates at its crude distillation units by 40,000 bpd to 440,000 bpd in June, the company said on Wednesday.

  • "Due to weak margins, not only for gasoline but also for gasoil, we have to cut runs," spokesperson K.Y. Lin said.
  • Profit margins for complex refineries in Singapore have been trading below $4 this week after slumping to a one-year low of 90 cents on May 30 according to LSEG.

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