Date: June 2, 2016
CPC Corp., Taiwan’s foremost energy company and largest state-owned
enterprise by revenue, held a celebration in honor of its 70th anniversary June 1 at its headquarters in Taipei City during which the firm highlighted its corporate social responsibility programs and efforts to bolster the nation’s energy security.
“The company will expand its oil exploration programs around the world to increase ownership of oil sources so Taiwan will be better prepared for the impacts of price fluctuations,” said Paul Chen, president of CPC. He added it intends to raise the percentage of crude oil from CPC-owned sources at its refineries from 4 to 10 percent within the next several years.
According to its president, the state-owned enterprise is also working to diversify Taiwan’s energy sources by facilitating greater access to liquefied natural gas, which produces less carbon emissions than traditional fossil fuels. “The company is building facilities that will enable it to import larger quantities of LNG, which is in line with the government’s policy of reducing the use of nuclear power in Taiwan,” he said. [FULL STORY]