Formosa plans to process 400,000 barrels per day (bpd) of crude in May, or 74% of its total capacity, up from 340,000 bpd in March and April, spokesman KY Lin told Reuters.
The higher utilization rate comes as Asian gasoline refining margins have returned to pre-COVID-19 levels. Formosa is among the largest oil products exporters in Asia and a ramp-up in its output is expected to lead to more exports.
Formosa's refinery has been operating at about 60% between February and April due to maintenance, while its No.2 residue desulphuriser unit is undergoing repairs following a fire in July.
"Our RCC (residue catalytic cracker) will resume operations in May so we'll process some sweet crude," Lin said, adding that prices for gasoline and propylene, a petrochemical feedstock, produced from the RCC are favourable.
Formosa operates three crude distillation units with a capacity of 180,000 bpd each at its complex in Mailiao.
(Reporting by Florence Tan; Editing by Himani Sarkar)