Taiwan CPC to Seek Cooperation with Mainland

With the imminent WTO entry of both sides across the Taiwan Straits, Taiwan's "Executive Yuan" and "Economic Office" have approved CPC's reported plan to sell its diesel oil to the mainland as an outlet for its surpluses of petrochemical products.

Pan Wenyan, general manager of Taiwan Chinese Petroleum Corporation (CPC), told newsmen lately that he had planned to go on a mainland visit and sign a letter of intent with PetroChina October 8. CPC is expected to sell its diesel to the mainland early next year as soon as virtual cross-Straits WTO entry is effected.

Another major task Pan told is to visit Heilongjiang Daqing Oil Field and hold talks with senior officials of China National Petroleum Corporation to find the possibility for cooperative oil exploration and extraction.

When Taiwan CPC should succeed in buying crude oil from Heilongjiang Province, it would serve another milestone for cross-Straits exchanges between Taiwan and mainland public-operated enterprises since Taiwan Power Company purchased coal earlier from the mainland. In this way, Taiwan will depend no more on sole crude oil imports from Middle East, Indonesia, Australia, Africa and other suppliers.

Included among Pan's retinue on a mainland visit are also senior directors of the refining department of Taiwan CPC. Directors concerned pointed out that China National Petroleum Corporation has developed catalyst technology. It will be of great benefits to Taiwan CPC if it can obtain or purchase the technology directly and put into its light oil cracking factory in increasing and purifying ethylene and propylene production.

Pan will also investigate into the mainland's petrochemical material market for Taiwan's petrochemical material surplus.

Besides, Taiwan CPC also plans to explore the mainland's market and its demand for special chemical products on account of a flourishing electronic and precision chemical industry developed on the mainland.



By PD Online Staff Du Minghua


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