Taiwan Formosa to delay some gasoil, gasoline exports on outage -sources
SINGAPORE Dec 24 (Reuters) - Taiwan's Formosa Petrochemical Corp will delay some gasoline and gasoil shipments to February from January following an unplanned shutdown of a secondary unit at its Mailiao plant, industry sources familiar with the matter said on Tuesday.
The sources and traders estimated that Formosa will likely delay between 30,000 and 60,000 tonnes of gasoil and around 60,000 to 90,000 tonnes of gasoline, based on the shutdown period of the residue catalytic cracker (RFCC) until end- January.
The Taiwanese refiner and petrochemical maker shut one of its two RFCCs at its 540,000 barrels per day (bpd) Mailiao refinery about two days ago on an unspecified outage.
The gasoline cargoes which were scheduled for early January loading will not be affected, one of the sources said, but other cargoes originally meant for later January shipments will be delayed.
Formosa's spokesman was not available for comments.
The company exports about 240,000 tonnes of gasoline a month and at least 700,000 tonnes of gasoil a month.
The other RFCC is running at maximum capacity. Both RFCCs have the same capacity of 84,000 barrels per day (bpd) each.
"But the delay in gasoil cargoes has little impact on the distillates market due to sufficient stocks," said one of the sources.
The impact on the gasoline market was also marginal, although the shutdown has helped prevent the Asian gasoline margin from tumbling due to ample supplies.
As of Tuesday, the Asian gasoline margin was assessed at $5.95 a barrel, about 7 percent higher than a month ago. (Reporting by Seng Li Peng; Editing by Muralikumar Anantharaman)
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