COPEC
State-owned enterprise | |
Industry | Oil and gas |
Founded | July 6, 1968 |
Founder | Jelal Medan |
Headquarters | Agnannet, Charnea |
Key people | Aghu Rasul (CEO) |
Products | Fuel and petrochemicals |
Revenue | $27.13 billion CDR 352.69 billion (2019) |
$2.119 billion CDR 27.547 billion (2019) | |
$19.969 billion CDR 259.59 billion (2019) | |
Total assets | $99.921 billion CDR 1298.973 billion (2019) |
Total equity | $101.518 billion CDR 1319.734 billion (2019) |
Owner | Charnea |
Number of employees | 127,110 (2018) |
The Charnean Oil and Petrochemical Corporation, better known as COPEC, is the state owned petroleum company of Charnea. With an annual revenue of over 353 billion Dinars, COPEC is the most profitable enterprise in Charnea and a major source of income for the current Second Empire regime. This status affects government policy regarding COPEC significantly, as lawmakers and national leaders in Agnannet routinely prioritize COPEC infrastructure and revenue over other economic concerns. COPEC was first established in the year 2005 under the Central Scipian Republic at the time under military dictatorship, primarily as a means to punish oil barons of the private petroleum industry in Charnea which had opposed the 2004 Charnean coup d'etat and secondarily to secure additional funding and prop up the regime's crumbling finances. The company has since been transferred to the Transitional Government of the Obul and Ninva, although high level officials had fled with company assets during the Great Charnean Crisis, and has since been renewed under the Second Empire of Charnea since 2021. Charnea is a major oil producer and one of the largest in Scipia, with production and profits from this industry completely monopolized by COPEC in Charnea.