Formosa Petrochemical : February 2022 Formosa Petrochemical Corp. (FPCC) Consolidated Operating Revenue Report

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Provided by: Formosa Petrochemical Corp
SEQ_NO	7	Date of announcement	2022/03/08	Time of announcement	13:30:46
Subject	February 2022 Formosa Petrochemical Corp. (FPCC) Consolidated Operating Revenue Report
Date of events	2022/03/08	To which item it meets	paragraph 51
Statement	1.Date of occurrence of the event:2022/03/08 2.Company name:Formosa Petrochemical Corp.(FPCC) 3.Relationship to the Company (please enter "head office" or "subsidiaries"):head office 4.Reciprocal shareholding ratios:NA 5.Cause of occurrence:February 2022 Formosa Petrochemical Corp. (FPCC) Consolidated Operating Revenue Report 6.Countermeasures:None 7.Any other matters that need to be specified: 1.February 2022 v. January 2022 Consolidated Operating Revenue Comparison: Operating revenue for February 2022 was NT$52.3 billion compared with NT$64.4 billion for January 2022, a decrease of 18.7%, totaling NT$12.1 billion. In addition, there was a decrease of NT$16.7 billion in sales volume and an increase of NT$4.6 billion in sales price therefrom. a.Operating revenue for refining business had decreased by 23.1% compared to January 2022. Volume: The refining throughput in February 2022 was 364 thousand barrels per day, a decrease of 69 thousand barrels per day compared to January 2022. The total sales volume in February 2022 was 11,145 thousand barrels, a decrease of 5,419 thousand barrels compared to January 2022 due to the sailing schedule. Price: The average petroleum sales price in February 2022 was US$101.2 per barrel, an increase of US$9.3 per barrel compared to January 2022 since Dubai crude oil price had risen US$8.8 per barrel. b.Operating revenue for naphtha cracking business had decreased by 9.4% compared to January 2022. Volume: The utilization rate in February 2022 was 94%, which was lower than 95% in January 2022. The total sales volume was 581 thousand tons in February 2022, a decrease of 140 thousand tons compared to January 2022. Price: The sales price of ethylene and propylene had risen US$106 and US$82 per ton respectively compared to January 2022 owing to the rising prices of naphtha and tight supply. The sales price of butadiene had risen US$238 per ton due to the tight supply. The sales price of pyrolysis gasoline had risen US$73 per ton compared to January 2022. The average olefins sales price had risen US$109 per ton compared to January 2022. 2.February 2022 v. February 2021 Consolidated Operating Revenue Comparison: Operating revenue for February 2022 was NT$52.3 billion compared with NT$41.3 billion for February 2021, an increase of 26.5%, totaling NT$11.0 billion. In addition, there was a decrease of NT$3.8 billion in sales volume and an increase of NT$14.8 billion in sales price therefrom. a.Operating revenue for refining business had increased by 35.4% compared to February 2021. Volume: The refining throughput in February 2022 was 364 thousand barrels per day, an increase of 76 thousand barrels per day compared to February 2021. The total sales volume in February 2022 was 11,145 thousand barrels, an increase of 354 thousand barrels compared to February 2021. Price: The average petroleum sales price in February 2022 was US$101.2 per barrel, an increase of US$32.7 per barrel compared to February 2021 since Dubai crude oil price had risen US$31.4 per barrel. b.Operating revenue for naphtha cracking business had increased by 18.3% compared to February 2021. Volume: The utilization rate in February 2022 was 94%, which was lower than 101% in February 2021. The total sales volume was 581 thousand tons in February 2022, a decrease of 69 thousand tons compared to February 2021. Price: The average olefins sales price had risen US$250 per ton compared to February 2021; ethylene price +US$273 per ton, propylene price +US$184 per ton, butadiene +US$150 per ton, and pyrolysis gasoline +US$279 per ton therefrom.