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Taiwan August crude imports fall to 704000 b perd

2018-07-20

Chemical News

Taiwan's August crude imports fall to 704,000 b/d, lowest since Nov 2011   Oct 18,2013 Platts Taiwan's total crude imports in August plunged 22.8% year on year to an average 704,000 b/d due to lower refinery runs, according to data released Monday by Taiwan's Bureau of Energy at the Ministry of Economic Affairs.

This was the lowest level since November 2011, when crude imports averaged 613,000 b/d.

Saudi Arabia was top supplier in August, although volumes fell 18% year on year and 36.2% month on month to 210,000 b/d.

Kuwait was the second-largest supplier of crude oil in August, with volumes falling 7.3% year on year to 178,000 b/d.

Iraqi volumes were 125,000 b/d in August, unchanged from a year earlier but more than double July imports.

Omani shipments slid nearly 30% year on year to 97,000 b/d in August while Angolan cargoes fell 48.4% year on year to 63,000 b/d.

Taiwan did not import any Iranian crude oil in August.

Over January-August, Taiwan's total crude imports dipped 0.6% from a year earlier to 832,000 b/d. Saudi Arabia, Kuwait and Oman were Taiwan's top three suppliers of crude over the same period.

Refining throughput in the downstream in August was 3.92 million kiloliters, or an average of 796,000 b/d, falling 15.1% from August 2012, according to the data.

State-owned CPC had shut the 80,000 b/d residue fluid catalytic cracker at its Talin refinery from mid-August for two months for turnaround while mechanical problems at rival Formosa Petrochemical Corp's 84,000 b/d RFCC at its sole Mailiao refinery also lowered the unit's runs from late July.

Formosa now plans to shut the RFCC later this month for two weeks for repairs.

Taiwan's overall refinery utilization rate in August averaged 63.18%, down from 70.42% in July, the bureau said.

Despite the lower refinery runs, total oil product consumption in August rose 14.2% year on year and 1.8% month on month to 4.15 million kiloliters, or 842,225 b/d.

Oil product imports in August sproposed over two and and half times year on year to 1.83 million kiloliters (371,910 b/d), the bureau said.

In January-August, total crude throughput at Taiwan's refineries was stable from the same period last year, averaging 864,000 b/d, according to the data. Total oil product consumption during the period averaged 801,962 b/d, rising 2.5% year on year.

CPC operates three refineries -- the 200,000 b/d Taoyuan plant in northern Taiwan, and the 300,000 b/d Talin and 200,000 b/d Zuoying units in the southern city of Kaohsiung -- while private refiner Formosa Petrochemical Corp. owns the 540,000 b/d Mailiao complex.    |      |