Deregulation will change Taiwan's petroleum product market

Deregulation is taking Taiwan into a new age of energy competition. The monopoly of state-owned Chinese Petroleum Corp. (CPC) in all phases of imports, refining, and product distribution is over.And a new "Petroleum Law," passed by the parliament in late September 2001, and Taiwan's entry into the World Trade Organization (WTO), promise to open the oil industry further.Formosa Petrochemical Corp. (FPC), a subsidiary of Formosa Plastics Corp., in September 2000 began delivering its first petroleum products to market.FPC's moves ended the 50-year monopoly enjoyed by state-owned CPC in oil and petroleum product importing, refining, and distribution.The impact of the entry into Taiwan...

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