The CPC Corporation is a state-owned petroleum, natural gas, and gasoline company in Taiwan and is the core of the Taiwanese petrochemicals industry.
History
Early 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.
Democratization and modern history
CPC held a monopoly over Taiwan's petroleum industry prior to June 1996. However, deregulation allowed the establishment of privately owned and operated petroleum refinery enterprises, leading to