May 10, 2005
National Petroleum Corp. will be opening ten new filling stations in the first half of the year and aims to boost its total number to over one hundred by the end of the year. Competitors Formosa Petroleum Station, North-Star Petroleum Co. and Caltima Corp., aiming to raise revenues and profits, have also announced plans for rapid expansion this year.
Rising international oil prices led to increased revenues for Taiwan's filling stations in the first quarter compared to the same period last year. Filling stations raised fuel prices five times in 2004, and they say it is highly probable that consumers will see even more price increases this year.
NPC currently has seventeen stations under construction. Despite stringent application procedures, it has chosen to build its own stations rather than take over existing stations for other operators. NPC also closed two stations in the first quarter due to low sales volumes.
Some smaller competitors are buying up existing stations as a means of avoiding long application processes and expanding as quickly as possible.
(United Daily News)
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