Lee Shun-chin Promoted to CPC Chairperson 中油董事長李順欽就任 首要挑戰改善虧損

Lee Shun-chin officially became the CPC Chairperson on the 12th. Lee said his main task is to implement the zero carbon emission goal.

Lee Shun-chin was officially promoted to Chairperson of CPC Corporation after receiving the company stamp. He has been serving as the Acting Chairperson for a year now. Lee's first challenge is the surge in international oil and natural gas prices, due to the Russia-Ukraine war. CPC has been absorbing these recent price hikes, which has led to the company's increasing losses.

Lee Shun-chin, Chairperson, CPC Corporation: “We had some inventory in March, so our loss last month was NT$4.98 billion, not NT$5 billion. So it's not yet half of our company's paid in capital.”

A few days ago, CPC announced its accumulated loss at the end of February was nearly NT$60 billion. Add the March loss, and the number is nearly NT$65 billion. The company's accumulated loss in April may continue to expand. CPC shoulders the responsibility of taking care of people's livelihood. The price of cylinder gas was originally scheduled to increase after April. Economic Affairs Minister Wang Mei-hua said that she has not ruled out the continuing freeze of cylinder gas prices till the end of June.

Wang Mei-hua, Minister of Economic Affairs: “Indeed we are providing these small businesses with more stable prices in terms of cylinder gas. We will keep the price freeze up to the end of June.”

Lee said that as the new CPC Chairperson, in addition to improving its finances, his most important task is to promote "net-zero carbon emissions". He will continue to implement refining upgrades and move the company towards higher value products. In addition, the LNG terminal project needs to be completed on schedule. The burdens he bears are not small and he needs to complete these tasks one by one.









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