Market

There are three refineries, located one each in the northern, western and southern regions. Of these, two refineries are owned by the state-owned petroleum company, Chinese Petroleum Corporation (CPC), the rest are owned by Formosa Plastic Corporation (Formosa), a private company.

In 2020, the total refining capacity reached approximately 850,000 barrels/day (49.3 billion liters), a decrease of 17% compared to 2016. CPC produced around 79.5% (8.03 billion liters) of gasoline, while Formosa contributed 2.07 billion liters.

The table below show the refineries’ location, capacity and owner of the refineries.