CPC Corporation Faces Potential Bankruptcy Warning Amid Massive Debt

CPC Corporation (中油) is grappling with 850 billion TWD in interest-bearing debt. Board member Wei Hui-shan (魏慧珊) warned that if losses continue and energy prices remain high, the state-owned oil company could face insolvency by 2027, potentially forcing a court-ordered restructuring. The company's financial strain is largely attributed to government-mandated price freezes on energy since 2022, which have kept debt-to-asset ratios above 90%. While the Ministry of Economic Affairs plans capital injections and subsidies to manage interest burdens and policy-driven losses, experts argue these measures do not address the structural causes of the deficit.