Taiwan’s April Oil Imports Fall as Formosa Halts Crude UnitYu-huay Sun and Argin Chang
Taiwan, which imports more than 99 percent of its crude requirements, purchased less of the fuel in April after Formosa Petrochemical Corp. 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.