Philippine National Oil Company

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

Philippine National Oil Company, owners of 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 the government-owned Philippine National Oil Company (PNOC)-Exploration Corporation 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]

[edit] External links

[edit] References

  1. ^ GMA NEWS.TV, Paras named as new PNOC chairman
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