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TAIWAN'S CPC, FORMOSA PETROLEUM ENGAGE IN PRICE WAR.

AsiaPulse News

| June 03, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

TAIPEI, June 3 Asia Pulse - Less than two hours after the Formosa Petroleum Corp. announced a price cut Friday for gasoline, diesel and bunker oil from June 1, a spokesman for the Chinese Petroleum Corp. said that the state-owned enterprise would follow suit.

However, Formosa's price-cut is in fact a reaction to a CPC cash and prize sales promotion on occasion of the company's 56th anniversary.

That afternoon, while CPC executives were announcing the ...

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