Domestic gasoline and diesel prices are to drop NT$0.2 and NT$0.3 per liter respectively this week after international crude oil prices fell last week on the prospect of rising supplies from OPEC members, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements yesterday.
News that Libya’s oil output and exports are expected to gradually resume after rival political factions agreed to appoint a new central bank governor, and that Saudi Arabia is ready to reduce the scale of its voluntary production cuts along with other OPEC members and allies in December, pushed crude oil prices to move lower last week, the companies said.
Front-month US West Texas Intermediate crude futures fell about 5 percent and Brent crude futures declined about 3 percent last week, Reuters reported on Saturday.
CPC said that based on its floating oil price formula, the cost of crude oil fell 0.38 percent last week from a week earlier.
Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.1, NT$30.6 and NT$32.6 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
Premium diesel would cost NT$27.7 per liter at CPC stations and NT$27.5 at Formosa pumps, they said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday obtained the government’s approval to inject an additional US$7.5 billion into its US subsidiary, the Department of Investment Review said in a statement. The department approved TSMC’s application of investing in TSMC Arizona Corp, which is engaged in the manufacturing, sales, testing and design of IC and other semiconductor devices, it said. The latest capital injection follows a US$5 billion investment for TSMC Arizona approved in June. The chipmaker has broken ground on two advanced fabs in Arizona with aggregated investments approved by the department totaling US$24 billion thus far. According to TSMC, the first Arizona
Her white-gloved, waistcoated uniform impeccable, 22-year-old Hazuki Okuno boards a bullet train replica to rehearse the strict protocols behind the smooth operation of a Japanese institution turning 60 Tuesday. High-speed Shinkansen trains began running between Tokyo and Osaka on Oct. 1, 1964, heralding a new era for rail travel as Japan grew into an economic superpower after World War II. The service remains integral to the nation’s economy and way of life — so keeping it dazzlingly clean, punctual and accident-free is a serious job. At a 10-story, state-of-the-art staff training center, Okuno shouted from the window and signaled to imaginary colleagues, keeping
STRATEGIC PARTNERSHIP: The plant would make infrared, gallium nitrade and silicon carbide chips as India attempts to develop a semiconductor value chain The US and India reached an agreement to work together on setting up a semiconductor fabrication plant in the South Asian nation, giving a boost to Indian Prime Minister Narendra Modi’s efforts to bolster manufacturing in the country. The proposed plant would make infrared, gallium nitride and silicon carbide semiconductors, according to a White House readout that followed a meeting between US President Joe Biden and Modi in Delaware on Saturday. The setting up of the facility would be enabled by support from the India Semiconductor Mission and a “strategic technology partnership between Bharat Semi, 3rdiTech Inc and the US Space
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