The Democratic Progressive Party (DPP) caucus said yesterday it would propose an amendment to the Petroleum Management Law (石油管理法) to restrict and impose taxes on oil product exports.
DPP Legislator Wong Chin-chu (翁金珠) told a press conference that while CPC Corp, Taiwan (台灣中油, CPC) made profits of just NT$15.4 billion (US$510 million) last year, Formosa Petrochemical Corp (台塑石化) made NT$78.5 billion. In the first quarter of this year Formosa has enjoyed a surplus of NT$13 billion, while CPC has incurred losses of more than NT$20 billion.
Wong said she suspected Formosa had profited from exporting oil products.
DPP Legislator Chen Ting-fei (陳亭妃) said statistics showed that while Formosa has exported 63 percent of the petroleum it refines, CPC has only exported 21 percent. Formosa exported 84 percent of the diesel oil it refined, while CPC exported just 29 percent.
Wong said the proposed amendment would restrict oil companies from exporting oil products.
She said the amendment also imposes export taxes on oil products.
The Chinese Nationalist Party (KMT) caucus expressed support.
KMT caucus deputy secretary-general Chang Hsien-yao (張顯耀) said: “We agree to this proposal. After all, Taiwan does not produce oil, but has to rely on imports for all crude oil and gasoline products.”
Additional reporting by Flora Wang
Death row inmate Huang Lin-kai (黃麟凱), who was convicted for the double murder of his former girlfriend and her mother, is to be executed at the Taipei Detention Center tonight, the Ministry of Justice announced. Huang, who was a military conscript at the time, was convicted for the rape and murder of his ex-girlfriend, surnamed Wang (王), and the murder of her mother, after breaking into their home on Oct. 1, 2013. Prosecutors cited anger over the breakup and a dispute about money as the motives behind the double homicide. This is the first time that Minister of Justice Cheng Ming-chien (鄭銘謙) has
BITTERLY COLD: The inauguration ceremony for US president-elect Donald Trump has been moved indoors due to cold weather, with the new venue lacking capacity A delegation of cross-party lawmakers from Taiwan, led by Legislative Speaker Han Kuo-yu (韓國瑜), for the inauguration of US president-elect Donald Trump, would not be able to attend the ceremony, as it is being moved indoors due to forecasts of intense cold weather in Washington tomorrow. The inauguration ceremony for Trump and US vice president-elect JD Vance is to be held inside the Capitol Rotunda, which has a capacity of about 2,000 people. A person familiar with the issue yesterday said although the outdoor inauguration ceremony has been relocated, Taiwan’s legislative delegation has decided to head off to Washington as scheduled. The delegation
TRANSPORT CONVENIENCE: The new ticket gates would accept a variety of mobile payment methods, and buses would be installed with QR code readers for ease of use New ticketing gates for the Taipei metro system are expected to begin service in October, allowing users to swipe with cellphones and select credit cards partnered with Taipei Rapid Transit Corp (TRTC), the company said on Tuesday. TRTC said its gates in use are experiencing difficulty due to their age, as they were first installed in 2007. Maintenance is increasingly expensive and challenging as the manufacturing of components is halted or becoming harder to find, the company said. Currently, the gates only accept EasyCard, iPass and electronic icash tickets, or one-time-use tickets purchased at kiosks, the company said. Since 2023, the company said it
Another wave of cold air would affect Taiwan starting from Friday and could evolve into a continental cold mass, the Central Weather Administration (CWA) said yesterday. Temperatures could drop below 10°C across Taiwan on Monday and Tuesday next week, CWA forecaster Chang Chun-yao (張竣堯) said. Seasonal northeasterly winds could bring rain, he said. Meanwhile, due to the continental cold mass and radiative cooling, it would be cold in northern and northeastern Taiwan today and tomorrow, according to the CWA. From last night to this morning, temperatures could drop below 10°C in northern Taiwan, it said. A thin coat of snow
RSS