press release

Chevron Press Release - Chevron Technology Selected For Formosa Petrochemical Refinery Project In Taiwan

SAN FRANCISCO, June 30, 1994 -- Chevron International Oil Company announced that it has been selected by Formosa Petrochemical Corporation (FPCC) to provide technology for building two new residuum desulfurization (RDS) units at FPCC's 450,000 barrel-a-day grass-roots refinery at Mai-liao, Taiwan. The refinery, located about 150 miles southwest of Taipei, is scheduled for start-up in 1998.

Terms of the agreement were not disclosed.

The new units each will have a capacity of 70,000 barrels a day. Together they will give the refinery the largest RDS operation capacity of any refinery worldwide.

Chevron's RDS Hydrotreating units will provide feedstock for the refinery's RDS-RFCC (Residuum Fluid Catalytic Cracker) complex, the centerpiece for premium gasoline production.

FPCC is a subsidiary of Formosa Plastics Corporation, the largest private company in Taiwan. In May, Asian Business magazine named Formosa Plastics one of the 20 most admired companies in Asia Pacific.

FPCC selected Chevron's RDS Hydrotreating technology due to Chevron's technical and commercial expertise. More than half of the RDS units operating at refineries worldwide are of Chevron design. In the past two years Chevron has won all three RDS licenses awarded worldwide, and it has a 90 percent market share of RDS units designed to provide feedstock to RFCC units.

Chevron International Oil Company, a Chevron Corporation subsidiary, licenses refining process technologies worldwide. It also markets catalysts, lubricants, marine fuels and aviation fluids; and trades crude oil, refined products and liquefied natural gas internationally.

Updated: June 1994