News / Taiwan / cnyes
Formosa Petrochemical Leads Group with 50% Revenue Surge as Oil Prices Rally
Energy Minerals · Oil Refining/Marketing · cnyes · 2026-09-09
1301, 1303, 1326, 6505
Formosa Petrochemical's shares jumped over 9% after reporting a 50.3% year-over-year revenue increase, fueled by rising global oil prices amid Middle East tensions.
What Happened
Revenue Performance: Formosa Petrochemical (6505-TW) reported a strong 50.3% year-over-year revenue growth for August, reaching NT$81.9 billion, outperforming the rest of the Formosa Group.
Oil Price Impact: Escalating geopolitical tensions in the Middle East have pushed global oil prices higher, significantly boosting the company's refining margins and overall revenue.
Market Reaction: Driven by the robust financial results and the surge in crude oil futures, the company's stock price rallied over 9% during intraday trading, hitting a one-month high.
Sector Outlook: The broader Formosa Group, including Formosa Plastics, Nan Ya, and Formosa Chemicals & Fibre, also saw positive momentum with shares rising over 3% as energy markets remain volatile.
Read original
More in Energy Minerals
Energy Minerals · yonhap_finance · 2026-09-09
Iraq, a founding member of OPEC, is pushing for an increase in its daily oil production quota to 6 million barrels, threatening to leave the group if denied.
Energy Minerals · cnbc · 2026-09-09
Crude oil prices are climbing toward triple digits as geopolitical conflicts in the Gulf trigger global inflation fears and weigh on international equity markets.
@LCO27G, @LCO26X, PSKY, GSBD, AAPL
Energy Minerals · yonhap_finance · 2026-09-09
Gazprom is aggressively pivoting to Central Asian markets as Western sanctions restrict European access, with exports to the region jumping 70% this year.
Latest in Taiwan
Electronic Technology · economic_daily · 2026-09-09
Topco Scientific, a key semiconductor material provider, saw its August revenue climb 36.3% year-over-year, driven by strong demand from foundry and memory clients.
5434
economic_daily · 2026-09-09
The Taiwan stock market closed higher today with a turnover of NT$773.5 billion, supported by significant net buying from foreign and institutional investors.
Consumer Services · economic_daily · 2026-09-09
Bafang Yunji achieved a record monthly revenue of NT$820 million in August, bolstered by successful store expansions and the launch of its new TOGO format.
2753
Electronic Technology · cnyes · 2026-09-09
Taiwan stocks closed higher at 47,183.36 points today, supported by a combined net buy of NT$22.08 billion from major institutional investors as foreign buying continues.
2330