SINGAPORE: Taiwan's crude imports rose by 17 percent in July from a month ago, and did not include any imports from Iran for the fourth consecutive month because of Western sanctions on oil exports by the Middle Eastern country.
Taiwan bought about 26.2 million barrels of crude in July, 3.9 million barrels more than the previous month, data from the Bureau of Energy showed on Thursday.
More imports were seen from the United Arab Emirates (UAE) and Saudi Arabia, increasing by 61 percent and 33 percent from June, respectively, according to the data.
Refinery throughput for July rose to around 27.3 million barrels, or 881,000 barrels per day (bpd), 10 percent higher than the previous month. Formosa Petrochemical Corp's 180,000 bpd No. 2 crude distillation unit (CDU) came back online in July after a two-month maintenance.
Fuel oil exports in July was four times higher than June, as Formosa resumed its fuel oil exports after a one-month absence. The company sold 40,000 tonnes of high sulphur fuel oil (HSFO) via a tender to PetroChina in July.
Demand for all oil products for July increased, with diesel and naphtha recording the biggest jump, at 28 percent and 22 percent, respectively.
Comments
Comments are closed.