March crude imports for Taiwan plummet by a third year-on-year

14-Apr-09
Hampered by a weak downstream demand and plant shut downs, imports of crude oil into Taiwan plummeted by one-third in March 2009 as opposed to the same month last year, the Ministry of Finance indicated recently. The nation, which largely depends upon foreign crude for its needs, saw an inflow of 24 mln barrels of oil in March, a YOY decline of 33%. During the period, the country's sole public listed oil refiner, Formosa Petrochemical Corp. (FPC) had put off stream a Yunlin County-based fuel oil unit for scheduled maintenance.
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