Philippine National Oil Company

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PNOC-operated geothermal power station in Valencia, Negros Oriental.

Philippines National Oil Company, owners of 40% stake in Petron, is a Philippines state owned company.

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.[1]

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.[2][3]

External links

References

  1. ↑ GMA NEWS.TV, Paras named as new PNOC chairman
  2. ↑ abs-cbnnews, Napocor, PNOC-AFC presidents resign
  3. ↑ gmanews.tv, Del Callar resigns as Napocor president, cites health reasons
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