The extended shutdown at CPC-Shells API Group I light base oils unit in Taiwan, together with recent and ongoing turnarounds, continue to generate tight supply/demand conditions in Asia.
CPC-Shells light base oils plant completed a routine maintenance program in July, but the plant remains off-line due to economic factors. High feedstock costs against current prices for the light cuts are making it difficult to obtain reasonable margins, the supplier said, and the company is waiting for market conditions to improve to decide when to restart the unit. The heavy vis production line is running at full rates, the source added.
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