Taiwan July crude imports rise; no Iran inflows

13 Sep, 2012

 

Taiwan bought about 26.2 million barrels of crude in July, 3.9 million barrels more than the previous month, data from the Bureau of Energy showed on Thursday.

 

More imports were seen from the United Arab Emirates (UAE) and Saudi Arabia, increasing by 61 percent and 33 percent from June, respectively, according to the data.

 

Refinery throughput for July rose to around 27.3 million barrels, or 881,000 barrels per day (bpd), 10 percent higher than the previous month. Formosa Petrochemical Corp's 180,000 bpd No. 2 crude distillation unit (CDU) came back online in July after a two-month maintenance.

 

Fuel oil exports in July was four times higher than June, as Formosa resumed its fuel oil exports after a one-month absence. The company sold 40,000 tonnes of high sulphur fuel oil (HSFO) via a tender to PetroChina in July.

 

Demand for all oil products for July increased, with diesel and naphtha recording the biggest jump, at 28 percent and 22 percent, respectively.

 

Copyright Reuters, 2012

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