state-owned enterprise and the fact that it has been run as a government agency subject to the restraints of public
service laws and regulations means not only that it has missed opportunities to act quickly on business opportunities,
but also has faced – and still does - an uphill struggle in implementing internal reforms. But in spite of this situation,
CPC has vigorously pursued reform of its structure for many years and has managed to implement many operational
improvements and plans for market expansion. Coming in response to both internal and external challenges and
competition, those moves are laying a solid foundation for the company's sustainable development.
Vigorous exploration for oil and gas; pursuit of diversification
The area of oil and gas exploration and production is crucial to CPC because it involves both Taiwan’s energy security
and the company’s sources of revenue. CPC has had to overcome various restrictions in order to both accelerate
the development of its exploration undertakings and acquisition of reliable and stable supplies of fossil fuels and to
maintain a budget for an active program of domestic and foreign exploration and the acquisition of development rights
over deposits.
In the field of refining, with the impending closure of the Kaohsiung Refinery we are expanding capacity at the Dalin
Refinery and also planning to invest in Phase 2 of the Kaohsiung Harbor intercontinental container wharf project - a
trade, storage, transport and petrochemical operations center. Furthermore, as profit margins on refined products are
thin, we intend to both aim for better performance and engage with downstream firms in cooperative investments in
the area of high-value petrochemicals
As for natural gas, beyond active steps to secure widely-dispersed sources we plan to build a third receiving station
that will maintain CPC's leading status in the domestic market. We further seek to build more flagship filling stations,
in which our multi-service business model will offers consumer more refined service and a wide range of choices. We
are also assessing the feasibility of establishing green filling stations, in order to make a greater contribution to the
Earth’s wellbeing.
Maintaining stable supplies of energy and becoming an international industry leader
For well over half a century, CPC has provided an ample and stable supply of petroleum products for the domestic
market - and in so doing has helped the government to stabilize domestic commodity prices - and has supported the
development of Taiwan’s petrochemical industry. CPC's high standards have won public accolades and it has assumed
the role of pioneer and exemplar in the areas of environmental protection and workplace safety. Our goal is to be a
first-rate energy group and among the world's 150 largest corporations: so we are moving to minimize cumulative
losses and planning our responses to the challenges of escaping restraints, achieving excellence, strengthening our
operating constitution and boosting both efficiency and competitiveness.
We would like to express our most sincere gratitude to all of our customers for supporting us for so long, and to all
of the business partners who have helped us grow. We earnestly hope that our customers and partners will continue
to give us their patronage and encouragement, which are vital in smoothing the path of our corporate development,
achieving even higher levels of performance and doing more to pay back to society. To them we therefore extend our
respect and most heartfelt thanks!
Chairperson
Our goal is to be a first-rate energy group and among the world's 150 largest
corporations: so we are moving to minimize cumulative losses and planning
our response to the challenges of escaping restraints, achieving excellence,
strengthening our operating constitution and boosting both efficiency and
competitiveness.
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Message from the Chairperson
