A power outage at Formosa’s Mailiao refinery and petrochemical complex shut two naphtha cracking units on Wednesday, impacting production of olefin. The outage affected the 1.03 mln tpa No 2 and 1.2 mln tpa No 3 crackers. Cause of the outage at the complex in central Taiwan was not immediately clear. Its 700,000 tpa No 1 unit was shut on June 19 for a planned 40 day maintenance. This has rendered a shutdown of all three of Formosa’s crackers with combined capacity of 2.93 mln tpa. As a result naphtha margins in Asia dipped by almost 20% to a four-session low of US$18/ton premium.
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