Philippine National Oil Company
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| Government-Owned Corporation | |
| Industry | Oil, energy |
| Founded | November 9, 1973 |
| Headquarters | Taguig, Philippines |
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Key people
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Adm. Reuben S. Lista (Ret), President/CEO |
| Subsidiaries |
List
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| Website | PNOC Official website |
The Philippine National Oil Company (PNOC) was created on November 9, 1973 as a government-owned and controlled corporation founded under martial law Presidential Ferdinand Marcos to supply oil to the Philippines. Since then, its charter has been amended several times to include exploration, exploitation and development of all energy resources in the country.
PNOC was created in response to the 1970s oil crises. The Philippine government, then under martial law and governed by President Ferdinand Marcos, responded to the crises by founding PNOC and forging oil-supply partnerships with supplier countries. The government later acquired refineries and petroleum transport and marketing firms with the aim of being a “total” energy company. PNOC also initiated the exploration of the country’s oil and non-oil energy resources, such as geothermal.
PNOC Exploration Corporation concentrates on the oil and gas business. Its Malampaya Deepwater Gas-to-Power Project is one of the largest and most significant industrial endeavors in Philippine history [1][2] which "signalled the birth of the natural gas industry in the Philippines".[3] PNOC EC’s is involved with the project with Royal Dutch Shell Exploration (as operator) and Texaco.
In 1993, PNOC also ventured into petrochemicals, setting up the Philippines' first petrochemical industrial estate in Limay, Bataan.
PNOC currently has 2 subsidiaries working together to realize PNOC’s vision: PNOC Exploration Corporation and PNOC Renewables Corporation.
PNOC Exploration Corporation is the upstream oil, gas and coal subsidiary of the state-owned Philippine National Oil Company. A government owned and controlled corporation, the Company was incorporated on 20 April 1976 and is mandated by the government through the Department of Energy (DOE) to take the lead in exploration, development and production of the country’s oil, gas and coal resources. The Company was listed in the Makati Stock Exchange and the Manila Stock Exchange in 1976 and 1977, respectively.
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