Asia Naphtha-Taiwan's Formosa buys November cargoes


SINGAPORE, Oct 12 (Reuters) - Taiwan's Formosa PetrochemicalCorp has bought two-three cargoes of naphthafeedstock for its 2.93 million tonnes per year (tpy) crackingcomplex, which is currently running at reduced rates, traderssaid on Friday.

The cargoes are likely in medium-range vessel size and arescheduled for November arrival at Mailiao. Price details werenot known but traders said several offers were given to Asia'stop naphtha buyer.

Formosa had previously deferred receiving at least 60,000tonnes of naphtha in October to November after it had to cutoperational rates at its cracking complex in late September to80 percent of its capacity following a fire at a monoethyleneglycol plant operated by its sister company Nan Ya Plastics.

Naphtha is cracked into ethylene, among other hydrocarbonproducts. Formosa supplies some of its ethylene to Nan YaPlastics.

(Reporting by Seng Li Peng; Editing by Jijo Jacob)

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