Taiwan's August crude imports fall to 704,000 b/d, lowest since Nov
2011
Singapore (Platts)--17Oct2013/250 am EDT/650 GMT
Taiwan's total crude imports in August plunged 22.8% year on year to
an average 704,000 b/d due to lower refinery runs, according to data
released Monday by Taiwan's Bureau of Energy at the Ministry of Economic
Affairs.
This was the lowest level since November 2011, when crude imports
averaged 613,000 b/d.
Saudi Arabia was top supplier in August, although volumes fell 18% year
on year and 36.2% month on month to 210,000 b/d.
Kuwait was the second-largest supplier of crude oil in August, with
volumes falling 7.3% year on year to 178,000 b/d.
Iraqi volumes were 125,000 b/d in August, unchanged from a year earlier
but more than double July imports.
Omani shipments slid nearly 30% year on year to 97,000 b/d in August
while Angolan cargoes fell 48.4% year on year to 63,000 b/d.
Taiwan did not import any Iranian crude oil in August.
Over January-August, Taiwan's total crude imports dipped 0.6% from a
year earlier to 832,000 b/d. Saudi Arabia, Kuwait and Oman were Taiwan's
top three suppliers of crude over the same period.
Refining throughput in the downstream in August was 3.92 million
kiloliters, or an average of 796,000 b/d, falling 15.1% from August
2012, according to the data.
State-owned CPC had shut the 80,000 b/d residue fluid catalytic cracker
at its Talin refinery from mid-August for two months for turnaround
while mechanical problems at rival Formosa Petrochemical Corp's 84,000
b/d RFCC at its sole Mailiao refinery also lowered the unit's runs from
late July.
Formosa now plans to shut the RFCC later this month for two weeks for
repairs.
Taiwan's overall refinery utilization rate in August averaged 63.18%,
down from 70.42% in July, the bureau said.
Despite the lower refinery runs, total oil product consumption in August
rose 14.2% year on year and 1.8% month on month to 4.15 million
kiloliters, or 842,225 b/d.
Oil product imports in August surged over two and and half times year on
year to 1.83 million kiloliters (371,910 b/d), the bureau said.
In January-August, total crude throughput at Taiwan's refineries was
stable from the same period last year, averaging 864,000 b/d, according
to the data. Total oil product consumption during the period averaged
801,962 b/d, rising 2.5% year on year.
CPC operates three refineries -- the 200,000 b/d Taoyuan plant in
northern Taiwan, and the 300,000 b/d Talin and 200,000 b/d Zuoying units
in the southern city of Kaohsiung -- while private refiner Formosa
Petrochemical Corp. owns the 540,000 b/d Mailiao complex.
--Song Yen Ling,
yenling.song@platts.com
--Edited by Jonathan Dart,
jonathan.dart@platts.com
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