Formosa Petrochemical Corp plans to augment its crude oil processing capacity from 540,000 bpd to 593,000 bpd in three years. Government approval is being sought to further increase capacity to 720,000 bpd. Production capacity will be expanded to boost competitiveness, in a recovering economy. Formosa operates three crackers that can process naphtha or liquefied petroleum gas into ethylene and propylene, chemicals found in plastics and polyester fabrics. Combined capacity at the three crackers totals 2.94 mln tpa of ethylene.