Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. It also sells electricity, steam and certain other products generated from its co-generation power plants. Formosa Petrochemical is the only privately owned oil refinery in Taiwan and the second largest gasoline and gasoil producer in Taiwan.