Chock-full storage tanks may compel Formosa to defer imports of naphtha, sour crude

Formosa Petrochemical Corp. wants to defer some imports of naphtha and sour crude as its storage tanks are full after two accidents at its Mailiao crackers in July. Formosa’s 540,000 bpd Mailiao plant has been shut for safety reasons after an oil leak triggered a blaze at its No. 2 residual desulfurization unit on July 25. Formosa halted its No. 1 700,000 tpa ethylene plant on July 7 after a fire. Two-thirds of the refining capacity may be fully operational in a week or two. Formosa plans to restart a second crude processing unit at Mailiao this week, after production at the first unit resumed last week.
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