Formosa Petroche traded at 58.90 this Friday July 3rd, increasing 1.30 or 2.26 percent since the previous trading session. Looking back, over the last four weeks, Formosa Petroche gained 2.43 percent. Over the last 12 months, its price rose by 55.61 percent. Looking ahead, we forecast Formosa Petroche to be priced at 56.60 by the end of this quarter and at 50.24 in one year, according to Trading Economics global macro models projections and analysts expectations.
Formosa Petrochemical Corp is a Taiwan-based company principally engaged in the refining and distribution of oil products. The Company’s principal products include oil products, such as naphtha, gasoline, diesel, jet fuel, kerosene, fuel oil and liquefied petroleum gas (LPG); petrochemical basic materials, such as ethylene, propylene and butadiene; utility products, such as power generation equipment and steam, as well as basic oil products. In addition, the Company is also involved in the storage of oil products and petrochemical materials, as well as the loading and unloading of port cargos.