CPC Corporation - Wikipedia

CPC Corporation (Chinese: 台灣中油; pinyin: Táiwān Zhōngyóu; Pe̍h-ōe-jī: Tâi-oân Tiong-iû; lit. 'Taiwan Chinese Petroleum') is a state-owned petroleum, natural ... CPCCorporation FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch Thisarticleisaboutthestate-ownedenterpriseinTaiwan.Forthestate-ownedenterpriseinChinesemainland,seeChinaNationalPetroleumCorporation. CPCCorporationCPCBuildinginXinyiSpecialDistrict,TaipeiTradenameCPCNativename台灣中油股份有限公司TypeJoint-stockcompany(State-ownedenterprise)IndustryOilandgasFounded1 June 1946 (1946-06-01)HeadquartersKaohsiungCity,TaiwanKeypeopleTaiChein(Chairman)ProductsPetroleumNaturalgasGasolineRevenueNT$1,187.7billion(2013)Numberofemployees14,787ParentMinistryofEconomicAffairsSubsidiariesCPCCorporation,Taiwan-LibyaBranchWebsiteen.cpc.com.tw ACPCpetrolstationinLienchiangCounty. CPCCGueishanoilrefinery CPCNo.10fuelbargeinKeelungHarbor CPCNo.9fuelbargeinKeelungHarbor CPCCorporation(Chinese:台灣中油;pinyin:TáiwānZhōngyóu;Pe̍h-ōe-jī:Tâi-oânTiong-iû;lit.'TaiwanChinesePetroleum')isastate-ownedpetroleum,naturalgas,andgasolinecompanyinTaiwanandisthecoreoftheTaiwanesepetrochemicalsindustry. Contents 1History 1.1Earlyhistory 1.2Democratizationandmodernhistory 2Facilities 3Suppliers 4Chairpersons 5Seealso 6References 7Externallinks History[edit] Earlyhistory[edit] CPCwasfoundedon1June1946inShanghaiasChinesePetroleumCorporation(中國石油)bythegovernmentoftheRepublicofChina(ROC,thenonMainlandChina).WiththeKuomintang'sretreattoTaiwanaftertheChineseCivilWar,CPCwastransferredfromtheCouncilofResourcestotheMinistryofEconomicAffairs.Thecompanymergedallrelevantfacilitiesandcompanies(Japanese6thNavalFuelDepot,TeikokuOil,NipponOil,etc.)inTaiwan.Itsmainbusinessesincludesurveying,extracting,refining,transporting,andsellingpetroleum.ItalsoproducesvariouschemicalsandhasretailoutletsalloverTaiwan.CPC'sfixingofpetrolpriceshelpedTaiwanthroughthe1970sEnergyCrisis[citationneeded]. Democratizationandmodernhistory[edit] Taiwan'spetroleumindustrywasaCPCmonopolypriortoJune1996.However,deregulationallowedtheestablishmentofprivatelyownedandoperatedpetroleumrefineryenterprises,leadingtoFormosaPlasticsGroup'slaunchofFormosaPetrochemicalCorporation(台塑石化).InFebruary2007,thecompany'sboardapprovednamechangeto"CPCCorporationTaiwan"andtheChinesenamefrom中國石油to台灣中油.[1]ThiswastoavoidconfusionwithPetroChina,theChinastate-runcorporationwhichalsohastheChinesename中國石油,andwaspartofgovernmenteffortstodesinicizeTaiwaneseentitieswhichhave"China"theirnames.However,theKuomintangpoliticalpartyarguedthatthenamechangeisnotvalidbecausenolegislationwaspassedinthelegislaturetosupportit.KMTbelievesthattheapprovaloftheLegislativeYuanisrequiredbeforeastate-ownedcompanycanchangeitsname.[2] InDecember2018,productionstartedatthePreludefloatingliquefiednaturalgasfacilityinAustralia,whichistheworld’slargestfloatingproductionstructure.ThecompanyholdssharesalongsideinvestorsShell,InpexCorporation,andKoreaGasCorporation.[3][4] In2019aNorwegiantankernamedFrontAltaircarryingacargoofnaphthaforCPCCorporationwasattackedintheGulfofOman.TheentireNT$1.07b(US$34m)cargowaslostbutthecrewescapedunharmedandthecargowasinsured.AfterinsuranceCPCCorporationincurreddirectcostsofNT$8m(US$254,000)associatedwiththeincident.[5]ThecargorepresentedtwodaysofTaiwaneseconsumptionbuthadminimalimpactsasthecompanyhad45daysupplyinreserve.[6] In2020thefirstshipmentofcarbon-neutralliquified-naturalgasarrivedatCPC’sYung-AnLNGTerminalinKaohsiung.Theshipmentwasthefirstinanewprogramdesignedtorenderfuelimportscarbon-neutralbybuyingcarboncreditsontheglobalmarket.TheinitialpurchasefromShellEasternTradingwasforcreditscertifiedbytheUN’sREDD+programwhichsupportsforestsindevelopingcountries.[7] In2020CPCsawthefirstshipmentofcrudefromtheChadianOryxfield,CPChadfirstbegunexplorationinChadin2006.[8] Facilities[edit] In2019CPCannouncedtheconstructionofathirdLNGterminal,afacilityinTaoyuanexpectedtobecompletedby2023withaninitialcapacityof1milliontonnesperyear(tpy).[9] In2019CPCreceivedapprovalfromtheEnvironmentalProtectionAdministrationtoconstructaLNGterminalinTaichung.[10] Suppliers[edit] CPCCorporationwasahistoricbuyerofIranianoilandreceivedasanctionswaiverfromtheUnitedStateswhentheyimposedsanctionsonIranianoilimports.[11]DespitereceivingasanctionswaverCPCCorporationchosetoenditsuseofIranasasourcecountry.[12] In2018CPCsignedanagreementwithAmericanCheniereEnergytopurchaseliquefiednaturalgasfor25years.Deliveriesaresettobeginin2021.[13] Chairpersons[edit] ChenChin-te(12September2016-18August2017) YangWei-fuu(30August2017-)(acting) Seealso[edit] Taiwanportal Energyportal Companiesportal ListofcompaniesofTaiwan EconomyofTaiwan EnergyinTaiwan MinistryofEconomicAffairs(Taiwan) TaiwanPowerCompany TaiwanWaterCorporation References[edit] ^CentralNewsAgency-RepublicofChina(Taiwan)(10February2007),NameChangeOfCPCToTakeEffectImmediately:EconomicsMinister,archivedfromtheoriginalon28September2007,retrieved10February2007 ^Shan,Shelley;Lin,Jackie;Chuang,Jimmy;Shih,Hsiu-chuan(13February2007),"Postalservice,oilrefinerchangenames",TaipeiTimes ^"World'slargestfloatingLNGplatformstartsproductioninAustralia".Reuters.26December2018.Retrieved16May2019. ^"Preludestartsproduction".www.shell.com.au.Retrieved16May2019. ^Strong,Matthew."CPCTaiwanestimateslossesfromSeaofOmantankeratNT$8million".www.taiwannews.com.tw.TaiwanNews.Retrieved23June2019. ^Cheong,Wendy."Taiwan'sCPCsaysithassufficientnaphtha,gasolinestocksaftertankerfire"./www.spglobal.com.S&PGlobal.Retrieved23June2019. ^Chang,Chris."1stshipmentofcarbon-neutralLNGarrivesatKaohsiung".www.taiwannews.com.tw.TaiwanNews.Retrieved10March2020. ^Strong,Matthew."Taiwan'sCPCtostartshippingoilfromChad".www.taiwannews.com.tw.TaiwanNews.Retrieved16November2020. ^Tan,Florence."Taiwan'sCPCtostartbuildingthirdLNGterminalbymid-2019".www.reuters.com.Reuters.Retrieved23June2019. ^StaffWriters."TaiwanBusinessQuickTake".www.taipeitimes.com.TaipeiTimes.Retrieved22July2019. ^Morgan,Scott."TaiwanwaivedfromUSbanonIranianoil".www.taiwannews.com.tw.TaiwanNews.Retrieved23June2019. ^Deaeth,Duncan."DespitesanctionswaiverfromUS,Taiwan'sCPCCorp.ceasesbuyingIranianoil".www.taiwannews.com.tw.TaiwanNews.Retrieved23June2019. ^JulieGordonandHenningGloystein,JessMacyYu."Chenieresigns25-yearLNGsalesdealwithTaiwan'sCPC".www.reuters.com.Reuters.Retrieved23June2019. Externallinks[edit] WikimediaCommonshasmediarelatedtoCPCCorporation,Taiwan. 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