Taiwan's Formosa seeks naphtha; crackers at full-tilt

Formosa Chemicals and Fibre

12/04/2019 08:23

SINGAPORE, April 12 (Reuters) - Taiwan's Formosa
Petrochemical Corp  6505.tw  is seeking naphtha for its crackers
which continued to operate at full capacity this week following
a fire at a sister company on Sunday, traders said on Friday. 
    Asia's top naphtha importer is looking to buy the fuel for
second-half May arrival at Mailiao in a tender closing on April
12, with offers valid until April 15, a document showed. 
    The plant site of Formosa Chemicals & Fibre Corp  1326.TW 
(FCFC), a sister company of Formosa Petrochemical Corp, was
affected by a gas leak which resulted in a fire.  urn:newsml:reuters.com:*:nL3N21R147 
    FCFC off takes pyrolysis gasoline, or pygas, a by-product
from naphtha cracking, from Formosa Petrochemical Corp. 
    For now, Formosa Petrochemical has sufficient space to store
pygas, said industry sources, adding that it could also look for
third parties to buy the pygas.

 (Reporting by Seng Li Peng; Editing by Subhranshu Sahu)
 ((lipeng.seng@thomsonreuters.com; +65 6870 3086; Reuters
Messaging: lipeng.seng.thomsonreuters.com@reuters.net))