Philippine National Oil Company
Encyclopedia
On April 25 2008, Gloria Macapagal-Arroyo
Gloria Macapagal-Arroyo
Gloria Macapagal-Arroyo is a Filipino politician who served as the 14th President of the Philippines from 2001 to 2010, as the 12th Vice President of the Philippines from 1998 to 2001, and is currently a member of the House of Representatives representing the 2nd District of Pampanga...
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
Royal Dutch Shell
Royal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
and Chevron
Chevron Corporation
Chevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining,...
.
On September 19, 2008, Energy Secretary Angelo Reyes
Angelo Reyes
Angelo Tomas Reyes was the Armed Forces of the Philippines Chief of Staff from 2000 to 2001 under President Joseph Estrada...
confirmed the resignation of PNOC-AFC president Peter Abaya for "health reasons." Philippine Army
Philippine Army
The Philippine Army is the ground arm of the Armed Forces of the Philippines . Its official name in Tagalog is Hukbong Katihan ng Pilipinas. On July 23, 2010, President Benigno Aquino III appointed Maj. Gen...
chief Romeo Tolentino will replace Abaya.