Taiwan's Formosa Petrochemical Corp is expected to slash its gasoline exports by about half in 2020 as the COVID-19 pandemic hits demand, a spokesman said.

The company's monthly average volume is estimated to drop to about 100,000 tonnes a month from an average of some 200,000 tonnes per month in 2019, said KY Lin.

"Domestic demand has picked up in June but overseas demand is not great and we do not want to be caught in a situation where we have to struggle with excess cargoes to export," Lin said.

(Reporting by Seng Li Peng; editing by Jason Neely)