MOSCOW (MRC) -- Taiwan’s Formosa Petrochemical Corp has shut its 36,000 barrel-per-day hydrocracker at its Mailiao refinery following a fire last week, reported Reuters with reference to the company spokesman's statement on Tuesday.
The refiner has cancelled gasoil exports and offered a rare cargo of 180-centistoke (cst) fuel oil for February following the accident, spokesman KY Lin told Reuters.
The company is currently carrying out investigations into the accident.
The unit is expected to come back online by mid-March.
As MRC informed earlier, an explosion occurred at a polypropylene (PP) storage tank belong to Formosa Plastics (FPC, part of Formosa Petrochemical) in Linyuan, Taiwan in the early hours of 7 July 2021 and caused a flare-up, which was distinguished within an hour. Formosa Plastics Corp (FPC) runs a 230,000 tons/year PP plant in the Linyuan complex.
According to MRC's ScanPlast report, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company"s plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).