State-run Chinese Petroleum Corp (CPC) is mulling over an oil exploration plan for Libya, it said yesterday, amid the warming of ties following President Chen Shui-bian's (
"We are now in the preliminary stage of the plan, collecting the geologic data for evaluation," CPC spokesman David Tsao (曹明) said in a telephone interview yesterday.
The CPC may participate in alliance with its foreign rivals in a bid to reduce costs and risks, Tsao said. CPC has been interested in Libya for quite a while, but it would require one to two years before oil exploration can begin, he said.
Relations with Libya were strengthened by Chen's short visit on his way home from a nine-day trip to Latin America. And in January, Saif Gaddafi, son of Libyan President Muammar Qaddafi, visited Taiwan.
CPC has been engaged in oil exploration abroad in recent years. The Gulf of Mexico and Australia are two key places for it this year, Tsao said, while it has seen decent results in Chad, Nigeria and Ecuador.
It is estimated that overseas oil exploration could contribute some NT$30 billion (US$939 million) in profits in the future, he said.
Skyrocketing international crude oil prices contributed to CPC's NT$17.4 billion deficit in the first four months of this year, compared to its NT$16.3 billion profit in the first half of last year.
In other news, the CPC denied a newspaper report yesterday that it is planning to budget NT$250 million to bury its carbon dioxide wastes in Taisi Township (
"We put the plan on hold last week because of concern over the risks and costs," Tsao said, adding that there are many other options for controlling emissions.
There are many other options for controlling carbon dioxide emissions, such
as renovating refining equipment, which the company has been doing, he said.
To comply with Kyoto Protocol requirements, the CPC, which emits 9.07
million tonnes of carbon dioxide a year, plans to reduce its emissions by
907,000 tonnes by 2010, he said.
CLOSURES: Several forest recreation areas have been closed as a precaution, while some ferry and flight services have been suspended or rescheduled A land warning for Tropical Storm Danas was issued last night at 8:30pm, as the storm’s outer bands began bringing heavy rain to southeastern regions, including Hualien and Taitung counties, and the Hengchun Peninsula (恆春半島), according to the Central Weather Administration (CWA). As of 9:15pm, the storm was approximately 330km west-southwest of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost tip, moving north-northeast at 10-20kph, the CWA reported. A sea warning had already been issued at 8:30am yesterday. The storm had maximum sustained winds near its center of 83kph, with gusts of up to 108kph, according to the CWA. As of 9:30pm last night, Kaohsiung, Tainan,
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UNILATERAL: The move from China’s aviation authority comes despite a previous 2015 agreement that any changes to flight paths would be done by consensus The Mainland Affairs Council (MAC) yesterday slammed Beijing for arbitrarily opening the M503 flight route’s W121 connecting path, saying that such unilateral conduct disrespected the consensus between both sides and could destabilize the Taiwan Strait and the wider region. The condemnation came after the Civil Aviation Administration of China (CAAC) earlier yesterday announced it “has activated the W121 connecting path of the M503 flight route,” meaning that west-to-east flights are now permitted along the path. The newly activated west-to-east route is intended to “alleviate the pressure caused by the increase of flights,” China’s state-run Xinhua news agency quoted China’s Taiwan Affairs Office
STRONG WINDS: Without the Central Mountain Range as a shield, people should be ready for high-speed winds, CWA weather forecaster Liu Yu-chi said Danas was yesterday upgraded to a typhoon and could grow stronger as it moves closely along the nation’s west coastline, the Central Weather Administration (CWA) said. Hsinchu and Chiayi cities, Taichung, Tainan and Kaohsiung, as well as Hsinchu, Miaoli, Changhua, Yunlin, Nantou, Chiayi, Penghu and Pingtung counties have canceled work and school today. Work and school in Keelung, Taipei, New Taipei City and Taoyuan, and Yilan, Taitung, Hualien, Kinmen and Lienchiang (Matsu) counties would continue as usual, although offices and schools would be closed in Taoyuan’s Luju (蘆竹), Dayuan (大園), Guangyin (觀音) and Sinwu (新屋) districts. As of 5pm yesterday, the typhoon’s
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