Philippine National Oil Company
- Philippine National Oil Company
Philippine National Oil Company, owners of 40% stake in Petron, is a Philippine state owned company. It was created by President Ferdinand Marcos through Presidential Decree No. 334 in 1973.
On April 25, 2008, Gloria Macapagal-Arroyo appointed former Negros Oriental 1st district congressman Jacinto "Jing" Paras as chairman of its subsidiary, the Philippine National Oil Company - Exploration Corporation (PNOC EC) which has assets of no less than P 15 billion and made a 2007 net profit of P 4 billion. Paras was chief legal counsel of Arroyo's Kabalikat ng Mamayang Pilipino (Kampi). Its assets include the Malampaya Gas and Oil Deposits, in partnership with Shell and Chevron. [ [http://www.gmanews.tv/story/91769/Paras-named-as-new-PNOC-chairman GMA NEWS.TV, Paras named as new PNOC chairman] ]
On September 19, 2008, Energy Secretary Angelo Reyes confirmed the resignation of PNOC-AFC president Peter Abaya for "health reasons." Philippine Army chief Romeo Tolentino will replace Abaya. [ [http://www.abs-cbnnews.com/nation/09/19/08/napocor-pnoc-afc-presidents-resign abs-cbnnews, Napocor, PNOC-AFC presidents resign] ] [ [http://www.gmanews.tv/story/121449/Del-Callar-resigns-as-Napocor-president-cites-health-reasons gmanews.tv, Del Callar resigns as Napocor president, cites health reasons] ]
External links
* [http://www.pnoc.com.ph/ Philippine National Oil Company official website]
References
Wikimedia Foundation.
2010.
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