Taiwan’s April Oil Imports Fall as Formosa Halts Crude Unit

Taiwan, which imports more than 99 percent of its crude requirements, purchased less of the fuel in April after Formosa Petrochemical Corp. (6505) halted a unit for scheduled maintenance.

Shipments fell 8.8 percent from a year earlier to 26.98 million barrels, the Ministry of Finance said in Taipei today. The island’s April oil bill dropped 21 percent to $2.92 billion, the ministry said in a statement.

Formosa Petrochemical, Taiwan’s only publicly traded oil refiner, shut its No. 1 crude distillation unit in mid-March for 50 days of maintenance, Lin Keh-yen, a company spokesman, said April 11. The refinery’s April sales fell 21 percent from year earlier, the company said in a statement yesterday.

To contact the reporters on this story: Yu-huay Sun in Taipei at ysun7@bloomberg.net or Argin Chang Taipei achang153@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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