The Chinese Petroleum Corporation (CPC) was founded in Shanghai on June 1, 1946 and was placed under the direction of the
government’s Resources Committee – the forerunner of the State-Owned Enterprise Commission, Ministry of Economic Affairs.
CPC relocated to Taiwan in 1949 along with the government and, now under the direction of the Ministry of Economic Affairs,
set up its headquarters in Taipei. Since then its operations have developed to include exploration for crude oil and natural gas
and their production, import, refining and processing; the distribution, marketing and sales of refined petroleum products and
natural gas; and the production and supply of petrochemicals. Its service facilities – gas stations, fueling points and the like –
are found throughout Taiwan.
Following approval by its Board of Directors at their 550
th
meeting in February 2007, the company’s name was changed from
Chinese Petroleum Corporation to CPC Corporation, Taiwan while retaining the ‘Chinese Petroleum’ name in Chinese, the
‘CPC’ abbreviation in English and its distinctive torch logo. The objectives behind these changes were expansion of the firm's
international business, reinforcement of the principle whereby it keeps its roots in Taiwan and building on the priceless goodwill
that the company has acquired over the decades since its founding. CPC's total paid-in capital now stands at NT$130.1 billion
and its revenues in 2014 amounted to a record NT$1.2 trillion.
Promoting economic development while fulfilling corporate social responsibility commitments
Over the years, CPC has in large measure fulfilled its mandate both to maintain stability in Taiwan’s supply of petroleum products
and to stimulate development in its petrochemical industry. In doing so it has helped the country to sustain vigorous economic
growth and its people to enjoy prosperity, accomplishments for which it has won praise from all corners of society. Faced
with the full-scale deregulation of Taiwan's market for petroleum products in recent years, CPC has moved to consolidate its
operating advantages and enhance its competitive strengths – not only by embracing organizational re-engineering, streamlining
its functions and moving towards a corporatized operational model, but also by carrying out production-cost reductions and
pursuing maximum profitability. At the same time, it has energetically sought opportunities to cooperate with major international
oil companies in upstream exploration and production, petrochemicals development and marketing channel ventures – all with
the aim of widening its business scope, expanding its presence in international markets and progressing towards corporate
sustainability. In this way CPC aims to become an integrated international energy group encompassing oil and gas exploration
and production, petrochemicals and high-tech operations; while continuing to provide the people of Taiwan with energy products
and services that combine high efficiency with high quality.
As a state-owned enterprise, CPC will continue to fulfill its corporate social responsibility commitments as a dutiful member of
society even as it pursues profitability. While consistently working at improving the quality of its petroleum products over the
course of many years, CPC has also done its bit for environmental protection by bringing in natural gas in the form of LNG and
promoting it as a source of clean energy. With equal consistency, the company has – without regard to cost – fulfilled its public
service mission yet further by ensuring that the military forces and civilian residents of Taiwan's remote areas and offshore islands
get the fuel and other energy products they need.
At the same time, the company has been conscientiously active in areas of social concern – promoting public understanding of
the petroleum industry, educating people in the safe use of gasoline and natural gas, holding health and safety workshops and
providing leadership to other businesses in strengthening the culture of industrial safety. In terms of community involvement, CPC
has supported disadvantaged groups, participated in social-welfare activities, funded arts and cultural initiatives and sponsored
elite athletes. Its public service role also includes putting in place environmental protection measures around its plants, supporting
economic and social development in the neighborhoods around its industrial plants and exploration sites, encouraging ecological
conservation, fostering local culture and promoting environmental education. All of these activities are in keeping with the 21
st
-
century trend toward corporate sustainability and demonstrate CPC's emphasis on balancing economic growth, environmental
protection and social welfare.
CPC initiated the following sustainability-oriented policies at the end of 2003 to stay up with global trends and go along with the
global movement towards environmental protection:
•
Compliance with government regulations and international agreements
•
Full-scale clean production and protection of the environment
•
Conservation of water and energy through efficient utilization of resources
•
Emphasis on corporate social responsibility and expansion of services
•
Establishment of key environmental indicators and the practice of transparency in information
•
Active commitment to R&D for the creation of new areas of business
CPC joined the World Business Council for Sustainable Development (WBCSD) in 2006 and is pursuing sustainability in the four areas
of environment and conservation, policy and R&D, social consciousness and environmental accounting and information. CPC also
published ‘Sustainable Development Reports’ in 2007, 2009, 2011 and 2013 in fulfillment of its responsibility for the disclosure of
corporate information.
At a time when global warming and climate change are becoming increasingly evident, CPC will loyally fulfill its role as Taiwan’s
principal domestic producer and supplier of clean energy. We will spare no effort to create a win-win-win outcome among the three
aspects of that role – environmental protection, economic development and social responsibility.
