Formosa Petrochemical says a Liberian-flagged supertanker carrying 2-million
barrels of crude oil will dock at Mailiao Port today - giving its underused
refineries a timely boost.

According to Formosa Petrochemical Corporation President Lin Keh-yen, the
F-P-M-C-C Lord is operated by Formosa Plastics Marine and carrying crude oil
from Saudi Arabia.

Lin says the arrivial of the crude oil will help ease the company's tight raw
material supplies.

Supply disruptions due to blocking of the Strait of Hormuz have resulted in
Formosa Petrochemical's overall refinery utilization rate dropping to about
43-per cent in April, as several scheduled crude shipments failed to arrive.

The rate for its naphtha cracking facilities alone was about 33-per cent in
April.

The corporation president says refinery operations are expected to gradually
recover with the arrival of the shipment - which transited the Strait of
Hormuz in mid-April after Iran temporarily reopened the waterway.