The Philippine National Oil Company (PNOC) is an energy company created on November 9, 1973, as a

government-owned and controlled corporation In the Philippines, a government-owned and controlled corporation (GOCC), sometimes with an "and/or", is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service In ...

founded during President Ferdinand Marcos' era to supply oil to the

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

. Since then, its charter has been amended several times to include exploration, exploitation and development of all energy resources in the country.

History

PNOC was created in response to the

1970s energy crisis The 1970s energy crisis occurred when the Western world, particularly the United States, Canada, Western Europe, Australia, and New Zealand, faced substantial petroleum shortages as well as elevated prices. The two worst crises of this period wer ...

. The Philippine government, 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 histor

http://www.philstar.com/opinion/2013/10/28/1250232/malampaya-story] which "signalled the birth of the natural gas industry in the Philippines

PNOC EC’s is involved with the project with

Royal Dutch Shell Shell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New Yo ...

Exploration (as operator) and

Texaco Texaco, Inc. ("The Texas Company") is an American oil brand owned and operated by Chevron Corporation. Its flagship product is its fuel "Texaco with Techron". It also owned the Havoline motor oil brand. Texaco was an independent company unt ...

. In 1993, PNOC also ventured into

petrochemical Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable so ...

s, setting up the Philippines' first petrochemical industrial estate in Limay, Bataan. In 1994, the

Government of the Philippines The Government of the Philippines ( fil, Pamahalaan ng Pilipinas) has three interdependent branches: the legislative, executive, and judicial branches. The Philippines is governed as a unitary state under a presidential representative and d ...

partially privatized

Petron Petron Corporation is the largest oil refining and marketing company in the Philippines, supplying more than a third of the country's oil requirements. It operates a refinery in Limay, Bataan with a rated capacity of . From the refinery, Petro ...

through signing of stock purchase agreement with Saudi Aramco and in 2009,

San Miguel Corporation San Miguel Corporation, abbreviated as SMC, is a Philippine multinational conglomerate headquartered in Mandaluyong, Metro Manila. The company is one of the largest and most diversified conglomerates in the Philippines. Originally founded i ...

took full control of Petron Corporation.

Subsidiaries

PNOC currently has 2 subsidiaries working together to realize PNOC’s vision: PNOC Exploration Corporation and PNOC Renewables Corporation.

PNOC Exploration 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 April 20, 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. At present, PNOC EC has seven (7) petroleum Service Contracts (SCs), namely: SC 37 (Cagayan Basin), SC 38 ( Malampaya), SC 47 (Offshore Mindoro), SC 57 (Calamian), SC 58 (West Calamian), SC 59 (West Balabac) and SC 63 (East Sabina). The Company is the operator in SC 37, SC 47 and SC 63 and a non-operating partner in SC 38, SC 57, SC 58 and SC 59. PNOC EC used to operate the very first natural gas facility in the country- the San Antonio Gas Power Plant within SC 37 before joining the Malampaya consortium (SC 38) in 1999 with a 10% stake. Malampaya is the country’s single biggest investment of its kind. PNOC EC also holds six (6) Coal Operating Contracts (COCs), namely: COC 41 (

Malangas Malangas, officially the Municipality of Malangas ( Cebuano: ''Lungsod sa Malangas''; Filipino (Tagalog): ''Bayan ng Malangas''; Zamboangueño/Chavacano: ''Municipio de Malangas''), is a 3rd class municipality in the province of Zamboanga Sibug ...

), COC 122 (Isabela), COC 141 (Isabela), COC 184 (Agusan del Sur), COC 185 (

Zamboanga Sibugay Zamboanga Sibugay, officially the Province of Zamboanga Sibugay ( ceb, Lalawigan sa Zamboanga Sibugay; tl, Lalawigan ng Zamboanga Sibugay; Chavacano: ''Provincia de Zamboanga Sibugay''), is a province in the Philippines located in the Zamboanga ...

) and COC 186 (Zamboanga Sibugay). As part of its coal business, the company also trades coal from other sources through its two (2) coal terminals located in Malangas and Cebu.

PNOC Renewables Corporation

PNOC Renewables Corporation (PNOC RC) is a fully owned subsidiary of state-owned Philippine National Oil Company (PNOC). Organized on March 7, 2008, it is the newest PNOC subsidiary. PNOC RC will be the primary vehicle of PNOC in promoting, developing and implementing new and renewable energy sources in the country. Through renewable energy, the country would be able to reduce its dependence on imported oil, while mitigating climate change. Renewable energy is an important component in the country's drive towards energy self-sufficiency, security and independence. Renewable energy projects include Hydropower Projects, Wind Project, Biomass and/or Waste to Energy Projects, Solar Electrification Projects, Geothermal Projects

References

External links