The Chinese petroleum handled by this company is in the other China -- Taiwan. CPC (formerly Chinese Petroleum Corporation) is engaged in the exploration, production, refining, storage, transportation, and the sale of oil and oil products in Taiwan. To supplement oil supply to hydrocarbon-poor Taiwan, the state-owned monopoly has stakes in oil and gas exploration ventures in Australia, Chad, Ecuador, Indonesia, Libya, the US, and Venezuela. Its refineries produce natural gas, kerosene, fuel oil, ethylene, propylene, and other refined products. CPC owns and operates more than 2,030 gas stations, as well as boat and aviation refueling stations. The Taiwanese government has CPC on track for privatization.