CPC Corporation

CPC Corporation, Taiwan
CPC
Native name
 台灣中油股份有限公司
Joint-stock company (State-owned enterprise)
Industry Oil and gas
Founded 1 June 1946 (1946-06-01)
Headquarters Kaohsiung City, Taiwan
Key people
 Tai Chein (Chairman)
Products Petroleum
Natural gas
Gasoline
Revenue TWD 1,187.7 billion (2013)
Number of employees
 14,787
Parent Ministry of Economic Affairs
Subsidiaries CPC Corporation, Taiwan-Libya Branch
Website en.cpc.com.tw
A CPC petrol station in Lienchiang County.

CPC Corporation, Taiwan (Chinese: 台灣中油, literally Taiwan Chinese Petroleum) is a state-owned petroleum, natural gas, and gasoline company in Taiwan and is the core of the Taiwanese petrochemicals industry.

History

CPC was founded on 1 June 1946 in Shanghai as Chinese Petroleum Corporation (中國石油) by the government of the Republic of China (ROC, then on Mainland China). With the Kuomintang's retreat to Taiwan after the Chinese Civil War, CPC was transferred from the Council of Resources to the Ministry of Economic Affairs. The company merged all relevant facilities and companies (Japanese 6th Naval Fuel Depot, Teikoku Oil, Nippon Oil, etc.) in Taiwan. Its main businesses include surveying, extracting, refining, transporting, and selling petroleum. It also produces various chemicals and has retail outlets all over Taiwan. CPC's fixing of petrol prices helped Taiwan through the 1970s Energy Crisis.

Taiwan's petroleum industry was a CPC monopoly prior to June 1996. However, deregulation allowed the establishment of privately owned and operated petroleum refinery enterprises, leading to Formosa Plastics Group's launch of Formosa Petrochemical Corporation (台塑石化). In February 2007, the company's board approved name change to "CPC Corporation Taiwan" and the Chinese name from 中國石油 to 台灣中油.[1] This was to avoid confusion with PetroChina, the China state-run corporation which also has the Chinese name 中國石油, and was part of government efforts to desinicize Taiwanese entities which have "China" their names. However, the Kuomintang political party argued that the name change is not valid because no legislation was passed in the legislature to support it. KMT believes that the approval of the Legislative Yuan is required before a state-owned company can change its name.[2]

Chairpersons

See also

References

  1. ↑ Central News Agency - Republic of China (Taiwan) (2007-02-10), Name Change Of CPC To Take Effect Immediately: Economics Minister
  2. ↑ Shan, Shelley; Lin, Jackie; Chuang, Jimmy; Shih, Hsiu-chuan (2007-02-13), "Postal service, oil refiner change names", Taipei Times
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.