Formosa Halts Crude Oil Export from Taipei Refinery

Formosa Petrochemical has stopped exports of oil products from its refineries at the Mailiao petrochemical complex in Taipei following a fire.

The complex, which was shut down for further safety checks, has 30 days of petrol and diesel inventories.

Formosa spokesman KY Lin said the company is unable to determine why the facilities have caught fire repeatedly over the past year.

Although the 540,000bpd refinery is closed, Formosa will continue to supply crude from Saudi Arabia and Kuwait this month, reports Dow Jones.