About PNOC
Milestones

Periods

 

  • 1973
     
    • Presidential Decree (PD) 334 creates the Philippine National Oil Company (PNOC) on November 9, 1973.

    • PNOC acquires ESSO Philippines, Inc., and majority equity interest in the Bataan Refining Corporation (BRC).

    • ESSO Philippines is renamed Petrophil Corporation. Full ownership is transferred to PNOC on December 21.

    • Mobil sells its share in the refinery to PNOC.

    • Geronimo Z. Velasco is appointed PNOC Chairman and President.
       

  • 1974
    • The new corporate name, Petrophil Corporation, is registered with the SEC on January 2.

    • The National Development Company (NDC) transfers to PNOC the majority and controlling shares held in Filoil Refinery Corporation (FRC). Thereafter, Petrophil Corporation is created with the merger of the production and marketing activities of FRC and ESSO.

    • In March Petrophil Corporation and the Filoil companies engage in the manufacturing and marketing of petroleum products, integrating their operations. Marketing of FRC’s petroleum products is assumed by Petrophil Corporation from Filoil Marketing corporation on April 1. Petrophil later acquired the assets of Filoil Marketing.

    • Filoil Industrial Estates is incorporated.

    • PNOC signs the first government-to-government supply contract with Kuwait and later enters into direct supply contracts with the People's Republic of China, Indonesia and Saudi Arabia.

    • To end the country's dependence on foreign-owned shipping for crude oil deliveries, three Tanker Companies, namely the PNOC Tankers Corporation, Petron Tankers Corporation, and Petrophil Tankers Corporation are created with the acquisition of M/T Diego Silang, M/T Sultan Kudarat, and M/T Raha Sulayman.

    • Petrophil Tankers Corporation and Petron Tankers Corporation are incorporated on September 13, 1974.

    • PNOC Tankers Corporation starts commercial operations in December.
       

  • 1975
    • PNOC acquires 70% of Luzon Stevedoring Corporation (LUSTEVECO) to rationalize the movement of oil and oil products throughout the country. Landbank of the Philippines acquires 30% of LUSTEVECO. LUSTEVECO was originally registered on March 19, 1971 as a service exporter in the field of cargo transport and handling services. The government now gains control of Cebu Stevedoring Company, Inc., Consolidated Terminals, Inc., Transport Contractors, Inc., and Overseas Recruitment Corporation which are 100% owned by LUSTEVECO.

    • Heads of National Oil Companies of Indonesia, Malaysia, Philippines, Singapore and Thailand establish the ASEAN Council on Petroleum (ASCOPE), an instrument of regional cooperation, active collaboration and mutual assistance in the development of petroleum resources through joint endeavors among ASEAN Member Countries.

    • Petron Tankers Corporation starts commercial operations in April .

    • Petrophil Tankers Corporation starts commercial operations in October.

    • Petron Tires, Batteries and Accessories (TBA) Corporation is incorporated on January 2 and takes over the development and marketing of tires, batteries, accessories and other products previously held by Petrophil Corporation.

    • Filoil Refinery Corporation’s crude refining operations are suspended due to economic reasons.
       

  • 1976
    • PD 927 expands PNOC Charter into an Energy Company and calls for the accelerated exploration and development of non-oil energy and indigenous energy resources. P.D. 334 as amended empowers PNOC to undertake the exploration, discovery, development, and extraction of all forms of energy sources, including geothermal sources of heat and power.

    • PNOC Energy Development Corporation is incorporated on March 5.

    • PNOC Exploration Corporation (PNOC-EC) is incorporated on April.

    • PNOC-Energy Supply Base (ESB) and PNOC Energy Drilling Division (EDD) are organized to assist PNOC-EDC and PNOC-EC.
       

  • 1977
    • PD 1206 creates the Ministry of Energy (MOE). Velasco is sworn in as Minister of Energy.

    • PNOC reforms into three divisions: Petroleum, Energy, and Marine.
      PNOC commissions the 3MW Geothermal Pilot Plant in Tongonan, Leyte.

     

  • 1978
    • PD 1442 establishes the Service Contract System for geothermal energy development.

    • The Tanker and Bulk Oil Departments, Mabini Supply Base and the Batangas Ship Repair and Maintenance Facilities of the former LUSTEVECO are converted into PNOC Marine Corporation (PMC) and PNOC Shipping and Transport Corporation (PSTC).

    • PSTC is incorporated on December 27.

    • PNOC Marine Corporation is incorporated in December 13.

       

  • 1979
    • PSTC starts commercial operations in January.
       
    • Malangas Coal Corporation (MCC) is created to handle the Malangas Coal Development Project. MCC is spun-off from PNOC Energy Development Corporation.

       
  • Back to Top1980
    • PNOC-Alcohol Corporation is created to support the Alcogas Program.

    • PNOC Energy Drilling, Inc. is incorporated and starts operations.

    • PNOC Energy Conservation Corporation is formed to market and export energy-saving devices, and to find, develop, and test methods and processes to save and use local energy.

    • PNOC Petroleum Tanker, Inc. and PNOC Oil Carriers, Inc. are created to manage M/T Raha Sikatuna and M/T Andres Bonifacio.

    • PNOC Management and Technical Service, Inc., a joint venture of PNOC with Kingston Reynolds and Thom Allardice (KRTA), is created to provide engineering, technical, and scientific services in geothermal resource development.

    • PNOC Energy Supply Base (ESB) is incorporated for “warehousing and other businesses incidental thereto…”

    • PNOC Petrochemical Development Corporation is incorporated.

    • Malangas Coal Corporation(MCC) enters into a coal operating contract with the Bureau of Energy Development (BED) for the exploration and development of the coal contract areas in the municipality of Malangas.
       

  • 1981
    • PNOC Coal Corporation (PCC) is created to undertake exploration and development of coal areas in Kabasalan, Zamboanga del Sur, and Bislig/Lingig, Surigao del Sur. PCC is spun-off from PNOC-EDC.

    • PNOC Energy Research and Development Center takes over the MOE Center for Non-Conventional Energy Development.

    • PNOC Crude Oil Tankers, Inc. and PNOC Petroleum Carriers Corporation are created with the acquisition of M/T Gregorio del Pilar and M/T Emilio Aguinaldo.

    • PNOC Management and Technical Service, Inc. changes its name to PNOC Geothermal Technology Corporation.
       

  • 1982
    • MCC's Coal Mines in Zamboanga del Sur is inaugurated.
       
    • Cocodiesel is launched after 7 long years of intensive laboratory and road performance tests.
       
  • 1983
    • EDC’s 112.5-MW Tongonan I and 112.5-MW Palinpinon I Geothermal Steam Fields are commissioned.

    • PNOC tests a mixture of diesel and cochin oil (semi-refined coconut oil) to run 80 bus units of the Metro Manila Transit Corporation.

    • PNOC-ERDC is mandated to research and develop solar, wind, biomass, and other non-conventional sources of energy.

    • PNOC, Bataan Refinery Corporation (BRC), and Mobil Petroleum PNOC-ERDC, in cooperation with the Federal Republic of Germany, inaugurates the 10-KW Solar Power Pilot Plant in Bulacan.

    • Company Inc. enter into a Share Transfer Agreement whereby Mobil agrees to sell, transfer, and convey to PNOC all the shares of stock it owns in BRC.

  • 1984
    • EDC starts commercial steam production in Tongonan, Leyte and Palinpinon I, Negros Oriental in January.
       
    • Bislig Coal Corporation (BCC) is created to undertake the exploration and development of the coal contract area in Barrio Pamaypayan, Bislig, Surigao del Sur. BCC is spun-off from PNOC Coal Corporation (PCC).
       
    • PNOC Alcohol Corporation (PAC) enters into a sales agreement with Victorias Milling Company (VICMICO) where PAC will purchase 5 million liters of anhydrous alcohol for a period of one year.
  • 1985
    • The Bataan Refining Corporation (BRC) and the Petron TBA Corporation are absorbed by the Petrophil Corporation.

    • The PNOC Alcohol Corporation is dissolved and absorbed by the Petrophil Corporation.

    • The PNOC Alcohol Corporation and the PNOC Geothermal Technology Corporation are dissolved on August 12.

    • PNOC Petroleum Carriers Corporation suspends its operations in July.

    • The PNOC Petrochemical Development Corporation is dissolved on September 30.

    • The PNOC Energy Supply Base, Inc. is merged with the PNOC Marine Corporation to form the PNOC Dockyard and Engineering Corporation (PDEC).

    • The PNOC Energy Drilling, Inc. is merged into the PNOC Energy Development Corporation.

    • The PNOC Petroleum Tankers, Inc. is dissolved on September 30. All its assets and liabilities are transferred to PNOC. Its only operating vessel, the MT Raha Sikatuna, is approved for disposition.

    • The Filoil Industrial Estates, Inc. (FIEI) is absorbed by the Filoil Refinery Corporation (FRC).

  • 1986
    • President Corazon C. Aquino appoints Vicente T. Paterno as Officer-in-Charge and subsequently as Chairman and President. Completing the composition of the PNOC Board are Trade and Industry Minister Jose S. Concepcion, Atty. Homobono Adaza, Deputy Executive Secretary Fulgencio Factoran, and Businessman Ernesto Tabios.
       
    • Paterno sets stage for decentralization and reiterates government's seriousness in pursuing privatization of PNOC subsidiaries.
       
    • Proclamation No. 50 sets the timetable for the privatization of (1) Bislig Coal Corporation; (2) PNOC Coal Corporation; (3) PNOC-Dockyard and Engineering Corporation; (4) Filoil Refinery Corporation; and (5) Filoil Industrial Estates, Inc.
       
  • 1987
    • Catalino Macaraig, Jr. takes over as Chairman of PNOC; DTI Undersecretary Lilia R. Bautista and Philcoal Chairman Antonio Vicente A. Garcia are appointed Members of the Board; and Manuel A. Estrella is designated PNOC President.
       
    • Executive Order (EO) 193 reorganizes MOE into the Office of Energy Affairs (OEA).
       
    • EO 215 amends PD 40 allowing private investors to participate in Power Generation through Co-Generation, Build-Operate-Own, and Build-Operate-Transfer Schemes.
       
    • PNOC Board approves the adoption of the new PNOC logo and the change of name of Petrophil Corporation to Petron Corporation.
       
    • PNOC Petroleum Carriers Corporation is dissolved on December 31
       
  • 1988
    • Petron TBA Corporation and BRC are merged into Petron Corporation.
       
    • PNOC marks the 15th Anniversary with PhP 20.54 Billion in Gross Revenues.
       
    • Filoil Refinery Corporation merges with Filoil Industrial Estate Inc. with the former as the surviving entity.
  • 1989
    • PNOC Dockyard and Engineering Corporation (PDEC) wins contract for the building of power barges for the floating power stations of NAPOCOR.

    • Malangas Coal Corporation produces a record 22,214 metric tons of coal.
       

  • Back to Top1990
    • Service Contract (SC) 37, located in the southern part of the Cagayan Basin, is awarded by the Department of Energy to PNOC Exploration Corporation on July 18.

    • PNOC helps the country weather the Gulf War-related oil crisis by keeping supply flowing into the country.
       

  • 1991
    • Benjamin E. Diokno is appointed PNOC Chairman and subsequently replaced by Monico V. Jacob.
       
  • 1992
    • President Fidel V. Ramos appoints Raul S. Manglapus as PNOC Chairman; Jacob is appointed PNOC President.
       
    • PNOC Board decentralizes Corporate Services.
       
    • Republic Act (RA) 7638 revives the Department of Energy (DOE).
       
    • PDEC is successfully privatized through sealed public bidding of its shipyard assets.
       
  • 1993
    • PNOC Energy Development Corporation’s Bacon-Manito I geothermal project in Albay starts commercial operations in May.

    • Delfin Lazaro is appointed Secretary of Energy and Ex-Officio Chairman of PNOC; Monico Jacob is appointed President of PNOC; and Raul Manglapus is appointed Chairman of Petron Corporation.

    • PNOC Petrochemical Development Corporation (PPDC) is incorporated to engage in the business of petrochemicals.

    • 110-MW Bac-Man I Geothermal Steam Field of PNOC-EDC is commissioned.

    • Privatization Plan for Petron Corporation is approved.

    • Petron Corporation transfers its landholdings amounting to P153 million to PNOC as property dividend on August 31.

    • PNOC-EDC’s Palinpinon II Nasuji modular plant starts operations.
       

  • 1994
    • Francisco L. Viray is appointed Secretary of Energy; Manglapus is appointed President of PNOC; and Jacob is appointed Chairman of Petron Corporation.

    • PNOC-EDC’s Bacman II Caravan modular plant starts commercial operations in March.

    • PNOC-EC switches on the 3-MW San Antonio Gas Power Plant in Echague, Isabela.

    • First 40-MW Palinpinon II Geothermal Steam Field of PNOC-EDC is commissioned. Palinpinon II Okoy modular plant starts operations.

    • PNOC and Saudi Arabian Oil Company (Saudi Aramco) formalize the Petron Partnership; thereafter, Petron's Initial Public Offering (IPO) is launched; subsequently, the shares are listed at the Philippine Stock Exchange (PSE). Forty percent of Petron is sold to Saudi Aramco for the amount of $502 million plus a purchase price adjustment of $30 million.

    • On September 6, 20% shares of Petron Corporation are listed at the Philippine Stock Exchange and offered to the public.

    • Public bidding for the four vessels of the International Tankers Division (ITD) is completed; PNOC Board approves the sale to the two highest bidders while the bidding for the sale of PSTC's fleet results in a failure due to lack of competitive bids.

    • An underground methane gas explosion at the Malangas Coal Corporation’s (MCC) mine results in the cessation of mining activity and MCC's eventual dissolution on December 31. Petron initial public offering is launched.

    • The PNOC Board approves the sale of its four international tankers to Wirana Private Ltd. And Howard/Eckhardt for $12.1 million.
       

  • 1995
    • PNOC-EDC’s Palinpinon II Sogongon I and Sogongon II modular plants start operations.

    • Filoil Refinery Corporation is renamed as Filoil Development and Management Corporation (FDMC).

    • PNOC Tankers Corporation, Petron Tankers, Petrophil Tankers, and PNOC Oil Carriers cease operations due to continued losses.

    • PNOC-EDC's second 40-MW Palinpinon II Geothermal Steam Field is commissioned.

    • DOE classifies PNOC-EC's natural gas reservoir in Isabela as the country's first commercial gas field.

    • PPDC starts construction of the feedstock pier in the 530-hectare petrochemical complex in Limay and Mariveles, Bataan.

    • Construction of the PNOC Building at Ft. Bonifacio starts on June 15.

  • 1996
    • PNOC remits to the National Government (NG) P10 Billion Special Cash Dividends for the Oil Price Stabilization Fund (OPSF).

    • PNOC Dockyard and Engineering Corporation (PDEC) is dissolved on December.

    • 52-MW Mindanao I Geothermal Power Plant of PNOC-EDC is commissioned.

    • PNOC gears for the privatization of its geothermal subsidiary, PNOC-EDC.

    • PNOC inaugurates its new office in Ft. Bonifacio.
       

  • 1997
    • PNOC-EDC marks its formal entry into the power generation business with the commercial operation of its Build-Operate-Transfer (BOT) power projects: Leyte-Cebu power facilities (202-MW) and the Mindanao I geothermal power project (47-MW) in North Cotabato.

    • PNOC-EDC’s Bacman II Bating modular plant starts operations in December.

    • Proclamation No. 971 declares the 50-hectare property of FDMC as Special Economic Zone.

    • The Committee on Privatization (COP) approves in April the privatization plan for PNOC-EDC recommending the sale of 30-40% of PNOC-EDC’s shares through an initial public offering, and an additional 20-30% shares to a strategic investor through an auction process. The privatization is postponed in view of the unfavorable equity market conditions.
       

  • 1998
    • PNOC-EDC’s Leyte-Luzon power facilities: the Malitbog 2 and 3 (154-MW), Mahanagdong (180-MW), and the Leyte Optimization (49-MW) power plants start operation in June.

    • PPDC's Petrochemical Park is inaugurated.

    • PNOC and Gulf Oil International Lubricants Ltd. establish a joint venture Company, Gulf Oil Philippines, Inc. (GOPI).

    • PNOC-EC produces its first billion cubic feet of green gas.

    • President Joseph Ejercito Estrada appoints Mario V. Tiaoqui as Secretary of Energy and Ex-Officio Chairman of PNOC; Ramon V. Mitra is appointed PNOC President.
       

  • 1999
    • PNOC-EDC's 48.25MW Mindanao II Geothermal Power Plant is commissioned.
       
    • PCC enters into a Joint Venture with Taiwan Overseas Mining Company (TOMC) for the development of the Integrated Little Baguio Coal Project.
       
    • ASCOPE Council approves the Business Orientation of ASCOPE together with the new Vision; Objectives and Strategies; Business Opportunities; Organizational Structure; and Functions and Tasks of the New Committees.
       
    • PNOC launches the Nationwide Contest for "The Most Innovative New and Renewable Energy System," coinciding with the company's 26th Anniversary.
    • PNOC presents the country's 1st Natural Gas Vehicle (NGV) to President Estrada in Malacaang. The vehicle, an Isuzu Hi-Lander AUV, was converted to run from diesel to natural gas and test-driven by the President himself.
       
    • Philippine Resins Industries Inc. (PRII) inaugurates its PhP 1.8 billion state-of-the-art Poly-Vinyl-Chloride (PVC) plant, a PPDC locator.
       
    • PNOC hosts the 25th Council Meeting of ASCOPE.
       
    • PNOC-EC concludes entry and participation in the Malampaya Deepwater Gas-to-Power Project with the signing of the Farm-In Agreement and the Office of the President's approval of the company's 10% participation.
       
  • Back to Top2000
    • Antonio A. Lopa is appointed PNOC President.
    • Bridge Financing for USD130 million from Citibank and USD30 million from PNOC's Internal Cash Generation (ICG)
    • is arranged to fund PNOC-EC's 10% participation in the Malampaya Deepwater Gas-to-Power Project.
  • 2001
    • President Gloria Macapagal-Arroyo appoints Sergio Antonio F. Apostol as PNOC Chairman and thereafter as PNOC-EDC Chairman and President; Thelmo Y. Cunanan is appointed PNOC President; and DOE Secretary Jose Isidro N. Camacho becomes Ex-Officio Chairman of PNOC.
       
    • Camacho moves to the Department of Finance; Vincent S. Perez, Jr. is appointed Secretary of Energy and Ex-Officio Chairman of PNOC.
       
    • PNOC and Shell Renewable Philippines Corporation (SRPC) sign Sales Agreement for 15,100 units of PhotoVoltaic Solar Home Systems for distribution and installation in un-energized rural areas in Regions I, II, and CAR over a period of five years.
       
    • President GMA inaugurates the Malampaya Deepwater Gas-to-Power Project at the On-Shore Gas Plant in Tabangao, Batangas City.
       
    • PNOC enters the World Wide Web on the occasion of the company's 28th anniversary.
       
    • PNOC and PERTAMINA sign a Memorandum of Understanding (MOU) to establish Joint Venture projects in Upstream and Downstream Petroleum as well as in Geothermal Energy.
       
  • 2002
    • The Malampaya Project, of which PNOC Exploration Corporation has a 10% stake, starts commercial gas production on January 1.

    • Oil rim of the Malampaya Project produces 1.9 million barrels of oil during the Extended Production Test. The SC-38 Consortium conducts studies to determine its viability.

    • PNOC-EC and Marubeni Corporation of Japan sign an MOU for the joint participation in the development of the LNG Terminal in Bataan and the conversion of the 500-MW Block C of the Limay Power Plant.

    • An MOU between PNOC and PETRONAS of Malaysia for the field demonstration of six ENVIRO 2000 cars is finalized. The ENVIRO 2000 Natural Gas Vehicles (NGV) are presented to President Gloria Macapagal Arroyo and to the public during the Independence Day Parade on June 12, thus marking the beginning of a six-month demonstration period.

    • PNOC-EC and the Quezon City government sign an MOU in August to test the feasibility of using methane gas generated at the Payatas open dumpsites for power generation.

    • PNOC embarks on the pilot installation of 20 Solar Home Systems (SHS) units in Barangay Cambulo, Banaue, Ifugao. 623 SHS units are installed by year-end.

    • President Gloria Macapagal Arroyo inaugurates PDMC's landmark project, the GMA Abot-Kayang Pabahay at Palupa in Rosario, Cavite.

    • Filoil Development and Management Corporation is renamed PNOC Development and Management Corporation (PDMC). PDMC starts development of its real estate properties consisting of 25 hectares and distributes these to informal dwellers under the socialized housing program of the national government as mandated by EO No. 59.

    • PDMC operations focus on the implementation of the socialized housing project. The construction of 142 housing units are completed, awarded and sold to 675 qualified informal dwellers.

    • PNOC closes down the PNOC Coal Corporation on May 31; its coal trading activities are assumed by PNOC Exploration Corporation.
       

  • 2003
    • PNOC Development and Management Corporation partners with Sta. Lucia Realty and Development, Inc. for the development of the 32-hectare property in Rosario, Cavite into a mixed residential and commercial subdivision called Costa Verde Subdivision.

    • PNOC wins the First Prize in the Fire Category in the prestigious 2003 Energy Globe Awards for Sustainability for the Solar Home Systems Distribution Project. 1,882 SHS units are installed in 64 barangays as of December 31, 2003.

    • President Glora Macapagal Arroyo mandates PNOC to spearhead the development of the Batangas-Manila (BatMan1), the Bataan-Manila (BatMan2) Gas Pipelines and the Liquified Natural Gas (LNG) Receiving Facilities in Bataan.

    • The PNOC Board mandates and directs PNOC-EC to undertake the development of a natural gas pipeline from Batangas to Metro Manila.

    • PSTC acquires the nine-year old M/T General Antonio Luna to serve its long-term contract with Petron Corporation.

    • The Securities and Exchange Commission issues a certificate for the revocation of PNOC Oil Carriers, Inc., PNOC Tankers Corporation, Petron Tankers Corporation, and Petrophil Tankers Corporation.

  • 2004
    • President Gloria Macapagal-Arroyo appoints Eduardo V. Mañalac as PNOC President and Chief Executive Officer.

    • The Department of Energy approves the application of PNOC Energy Development Corporation for the 20-year extension of the Tongonan, Palinpinon, and Bacon-Manito Geothermal Service Contracts.

    • PNOC-EDC launches its first small-scale Coco-Methyl-Ester (CME) Plant and demonstrates the first prototype fuel cell developed in the Philippines.

    • A total of 2,085 SHS units are installed by December 31.

    • PNOC receive the NGV Champion Award for Asia-Pacific during the International Association for Natural Gas Vehicles (IANGV) Conference in Argentina.

  • 2005
    • PNOC, China National Offshore Oil Corporation and Petro Vietnam signed a tripartite agreement for a Joint Marine Seismic Undertaking (JMSU) on March 14, 2005 to jointly acquire geoscientific data and assess petroleum resource potential of certain areas in South China Sea.
       
    • PSTC inaugurated the country's youngest tanker, the M/T Jose Rizal during the first quarter. The tanker's launching voyage started in May 2005.
       
    • PDMC awarded 47 parcel lots to onsite informal dwellers in Rosario, Cavite for its Socialized Housing Project.
       
    • A total of 4,977 SHS units were installed as of December 31, 2005.
       
    • PNOC completed the conversion of its vehicle to biofuel NGV with assistance from DOE and PNOC-EDC .
       
    • An MOU was signed between PNOC and KOGAS in December 2005. This establishes areas of cooperation which includes exchange of information on the gas industry of countries, joint technical study, research and development and potential business opportunities.
       
    • PNOC completed the conversion of its vehicle to biofuel NGV with assistance from DOE and PNOC-EDC .

       
  • 2006
    • PNOC-EDC’s Initial Public Offering is completed in December with the sale of 5.22 billion shares at P3.20/share generating net proceeds of P9.14 billion for PNOC and the national government.

    • The Terms of Service and the Tripartite Agreement among the SC 38 Consortium, PNOC EC and the DOE for the Camago-Malampaya Oil Leg (CMOL) Project are signed on March 17, 2006.

    • PNOC EC provides vital technical inputs to the seismic data processing activity in Vietnam for the Joint Marine Seismic Undertaking (JMSU).

    • The PNOC Petrochemical Development Corporation is renamed PNOC Alternative Fuels Corporation (PAFC). Its original mandate is amended to include the development, utilization, and commercialization of alternative fuels.

    • The draft MOA between PNOC EC and PT Putra Asyano Mutiara Timur (PAMT) is finalized.  The MOA is about a joint venture coal mining project for the Ampah coal concession located in East Kalimantan, Indonesia.  Due diligence activities from PNOC EC representatives start on March 30, 2006 in Indonesia.

    • PNOC conducts demonstration of the converted PNOC vehicle to the CNG/NGV Team of Petron.

    • A total of 3,336 SHS units are installed in 2006 in various barangays nationwide, bringing total installations to 12,280 units since 2002.

    • PNOC Exploration Corporation and Nido Petroleum enter into Service Contract 63 (East Sabina) on November 24, 2006.

    • Pedro A. Aquino Jr. is appointed OIC-President.

  • 2007
    • A secondary offering for the sale of the additional 20% of PNOC-EDC common shares is conducted in July at P5.70 per share. The secondary offering involves the sale of 3 billion common shares in three blocks, generating gross proceeds of P17.1 billion. PNOC-EDC was fully privatized on November 29, 2007 through the sale of its combined 6 billion common shares (40% of PNOC-EDC’s total outstanding common shares) and the 7.5 billion preferred shares of PNOC (4.5 billion shares) and PNOC-EDC Retirement Fund (3 billion shares), to Red Vulcan Holdings, a subsidiary of First Gen Corporation. The secondary and final offering of PNOC-EDC generated total gross revenues of P75.57 billion, realizing a net gain of P63 billion. A total of P62.17 billion was turned over to the National Treasury.

    • In November of the same year, the remaining 60% is auctioned, 40% in common and 20% in preferred shares. Sale of PNOC EDC is completed on December 1, 2007 with the Lopez-led group of Red Vulcan Holdings Corporation submitting the highest bid of P58.5 billion, thus completing its full privatization.

    • After serving PSTC for 26 years and finishing a total of 700 voyages, PSTC disposes of the M/T Gomburza in October 2007.

    • The PNOC Board approves the reactivation of PNOC Dockyard and Engineering Corporation (PDEC) for the purpose of reorganizing it into PNOC Renewables Corporation.

    • Antonio Cailao is appointed President and CEO.

    • PNOC completes the Netherlands-assisted Solar Homes System Distribution Project with the installation of 15,100 units of solar home systems in Regions 1-7, Cordillera Administrative Region, and Mindanao.

  • 2008
    • PNOC signs a share purchase agreement in December 2008, officially selling the national government’s remaining 40% stake or 3.75 billion shares in Petron Corporation to SEA Refinery Corporation, a wholly-owned subsidiary of SEA Refinery Holdings, B.V., the wholly-owned arm of London-based Ashmore Investments which acquired Saudi Aramco’s 40% equity stake in Petron.

    • PSTC acquires two double-hull tankers for petroleum products, M/T PNOC Lapu-Lapu and M/T PNOC Emilio Jacinto.

    • PNOC is awarded one of the top ten in Corporate Governance for GOCCs. This award is granted by the internationally-recognized organization for corporate governance, the Institute of Corporate Directors, using the internationally-vetted and accepted scorecard for corporate governance.  PNOC remains committed to the principles of highest corporate governance and is now part of the Specialized Governance Circle for GOCCs.

    • A new subsidiary, PNOC Renewables Corporation (PRC) is incorporated on March 7 to handle renewable energy projects.

    • The JMSU signed between PNOC-EC, CNOOC, and PetroVietnam, to jointly evaluate the petroleum potential of areas in the South China Sea west of Palawan, expires on June 30.

    • PNOC remits to the National Treasury P20.9 billion from its 2008 earnings.

  • 2009
    • PNOC purchases banked gas from the Department of Energy amounting to P14.4 billion, which is the equivalent to 108,600,000 Gigajoules.

    • PNOC complete the “Energy Center Solar Streetlight Conversion Project” with inauguration/switching ceremony held last November 9 to highlight PNOC’s 36th Anniversary celebration.

    • In December, PAFC’s Industrial Park obtains three prestigious certifications from the International Organization for Standardization (ISO) boosting its status as a globally-competitive industrial estate since September 2008.

    • PNOC’S Solar Home Systems Project is awarded as one of the winners in the 1st Gawad Pampublikong Korporasyon by the OGCC, one from 35 entries submitted by government corporations.

    • PNOC assumes the post as the Secretariat of ASEAN Council on Petroleum (ASCOPE) for the next 5 years effective May of 2009.

  • 2010
    • The Service Contract for Mt. Isarog is awarded by DOE to PNOC Renewables Corporation (PNOC-RC) in February 2010. Maibarara, a joint venture project with Petro Energy, Trans-Asia and PNOC-RC, is incorporated, after the PNOC RC and PNOC Board approved joining with Petro Energy and Trans Asia for the development of the Maibarara Geothermal field. The signing JVA was done in May 2010, with a ten percent (10%) equity share of PNOC-RC.

    • PNOC successfully negotiates the collection of long-standing receivables from the National Development Corporation amounting to P369 million, the bulk of which are real estate properties

    • As part its corporate social responsibility program, PNOC sponsors a scholarship program for five University of the Philippines students enrolled in courses on engineering and natural sciences.

  • 2011
    • PNOC remitted P453 Million in dividends to the Bureau of Treasury last January 31, 2011.
       
    • PNOC Board directs PNOC Alternative Fuels Corporation to wind down its jatropha operations on January 13.
      Back to Top
  • 2012

    • PNOC remits P3.5 billion in dividends to the Bureau of Treasury .

    • PDMC enters into a joint development agreement with Sta. Lucia Realty and Development, Inc. for the development of its 32-hectare property in Rosario, Cavite.
       

  • 2013

    • On April 17, Republic Act No. 10516 was signed into law by President Benigno Aquino III, amending P.D. No. 949 which designated the Industrial Park solely for petrochemical and petrochemical-related industries. The enactment of R. A. 10516 maximizes the best economic use of the park by expanding its use for businesses engaged in energy-related infrastructure projects and other gainful economic activities.

    • The steam field development and construction of the Maibarara Geothermal Power Project (MGPP) is completed in July 2013 and started its line commissioning in August 2013. Power plant lots are acquired and are in the name of Maibarara Geothermal Inc. (MBI), with a 25-year lease entered into with PSALM for the steam field lot.

    • The PNOC Board shortens the corporate life of PNOC Shipping and Transport Corporation (PSTC) effective March 15.

    • PNOC assumes the assets and liabilities of PSTC on December 26, 2013.

    • The Department of Energy grants Service Contract 75 (Northwest Palawan) to PNOC Exploration Corporation, Philex Petroleum Corporation, and Petroenergy Resources Corporation.

    • PNOC Exploration Corporation dissolves its wholly-owned subsidiary, PNOC Malampaya Production Corporation.

    • PSTC’s M/T Emilio Jacinto and M/T Lapu-Lapu cease operations.
       

  • 2014

    • President Benigno Aquino III approves the recommendation of the GCG to abolish the PNOC Development and Management Corporation (PDMC) and PNOC Alternative Fuels Corporation (PAFC). The GCG also instructs PNOC to create a Technical Working Group to wind down the operations, disposition of assets and settlement of liabilities of PDMC and PAFC; transfer PDMC and PAFC functions to PNOC; settle the retirement and separation benefits of PDMC and PAFC employees.

    • The Maibarara Geothermal Power Project (MGPP) is commissioned on February 8, and commercially operated with a maximum output of 20 MW. PNOC-RC is a joint venture partner for the development of the project with ten percent stake. As of November, plant generation is recorded at 115,792 Mwh.

    • PNOC turns over to the Philippine Navy its donation of the following vessels: M/T PNOC Emilio Jacinto, M/T PNOC Lapu-Lapu, and M/T Dr. Jose P. Rizal.
       

  • 2015

    • The GCG mandates PNOC to have a Reorganization Plan to transform itself into an operating company, and absorb the operations of PDMC and PAFC.

    • PNOC partners with the Development Academy of the Philippines (DAP) for the preparation of a restructuring plan for the approval of the PNOC Board and the GCG.

    • PNOC completes the turnover and assumption of PDMC’s and PAFC’s functions, including the management of the PNOC Industrial Park on December 31.

  • 2016

    • John J. Arenas is appointed President and CEO.

    • Adm. Reuben Lista replaces John Arenas as President and CEO.

    • As a result of its continuing transformation from a holding to an operating company, PNOC’s subsidiaries are down to two: PNOC Exploration Corporation and PNOC Renewables Corporation.

    • PNOC prioritizes its priorities into the following:

      1. Establishment of the PNOC Batangas LNG Hub which includes storage units, regasification/liquefaction plants, a modular gas power plant and distribution component;

      2. Development of PNOC Batangas Properties to an Energy Hub that will include the takeover of PNOC Exploration Corporation’s Energy Supply Base (ESB) operations and its coal and oil trading business;

      3. Monetization/Utilization of banked gas; and

      4. Potential business ventures for several of PNOC’s prime properties including those that were turned over by its dissolved subsidiaries, PAFC and PDMC, such as the PAFC Industrial Park in Limay, Bataan and properties in Rosario, Cavite, respectively, to maximize potentials for development and maximize its returns as well.

  • 2017

    • PNOC secures its ISO 9001:2015 certification in October. The Company is found to demonstrate the ability to consistently provide products and services that meet customer demand, applicable statutory and regulatory requirements, and enhance customer satisfaction through the effective application of the system, including processes for improvement of the system and the assurance of conformity to the requirements of the ISO standard.

    • PNOC Renewables Corporation (PRC) completes the installation of the 600-KW solar power system of the Bangko Sentral ng Pilipinas under its Nationwide Solar Rooftop Program For Government Agencies.

    • PRC is recognized as one of the Top 10 Government-Owned and Controlled Corporations with the highest rating on Corporate Governance Performance by the GCG.

  • 2018

    • PNOC assumes the administration and operations of the Energy Supply Base in January.

    • PNOC and the Department of Energy enter into an MOA to jointly undertake the development of the 5.2 hectare Energy Center into the Iconic Tower Project.

    • PNOC Board approves the initial Development Master Plan for the Energy Supply Base to make it a world-class port by 2024.

    • The GCG approves the Company’s Reorganization Plan on July 26, 2018. The PNOC Change Management Team convenes the Placement Committee to start the placement process for employees.

    • PNOC signs a land lease agreement with San Miguel Consolidated Power Corporation for 6.6 hectares.

  • 2019

    • PNOC and Lloyds Energy sign a Memorandum of Understanding (MOU) on LNG cooperation.

    • PNOC and Ratio Petroleum sign an MOU on the exploration and exploitation of natural gas.

    • PNOC and China Petroleum Engineering Company sign an MOU on LNG, Refinery, and Oil Depot projects.

    • PNOC and Satrap Power Corporation sign an MOU on renewable energy technologies.Back to Top