The international oil giant Exxon-Mobil is negotiating with the Chinese Petroleum Corp (CPC,
Chen said that the Exxon-Mobil has submitted an application to the Ministry of Economic Affairs (MOEA) for a license to import oil products, as the domestic oil products market has been opened to imports starting this year.
The CPC chairman said that international oil companies operating in Taiwan may become competitors as well as partners.
Taking the Exxon-Mobil as an example, Chen said the international oil giant is negotiating with the CPC, hoping the state enterprise's oil refineries can process its products. In the meantime, Exxon-Mobil is also discussing a joint venture project with the Pan Overseas Corp (匯僑實業).
After the MOEA's announcement in late December that it would liberalize Taiwan's oil products market, a Pan Overseas spokesman said that the company's newly built oil tanks at Taichung Harbor would be in use early this year and the company will try to win supply contracts from gas stations around the island.
Currently, the CPC is the biggest oil products supplier to domestic gas stations. With around 1,600 gas stations around the island being supplied with CPC oil products, it has a 40 percent market share.
Formosa Petroleum Corp (台塑石油), which grossed NT$130 billion from oil products last year, has contracts with more than 500 domestic gas stations, making it the second-largest supplier in the country.
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