About PNOC
Milestones

Periods

 

  • 1973
     
    • Presidential Decree (PD) 334 creates the Philippine National Oil Company (PNOC).
    • PNOC acquires ESSO Philippines, Inc., and majority equity interest in the Bataan Refining Corporation (BRC).
    • Geronimo Z. Velasco is appointed PNOC Chairman and President.
       
  • 1974
    • PNOC signs the first government to government supply contract with Kuwait and later enters into direct supply contracts with People's Republic of China, Indonesia and Saudi Arabia.
    • 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.
    • To end the country's dependence on foreign-owned shipping for crude oil deliveries, 3 Tanker Companies, namely the PNOC Tankers, Petron Tankers and Petrophil Tankers are created with the acquisition of M.T Diego Silang, M/T Sultan Kudarat, and M/T Raha Sulayman.
       
  • 1975
    • PNOC acquires 70% of Luzon Stevedoring Corporation (LUSTEVECO) to rationalize the movement of oil and oil products throughout the country.
    • Heads of National Oil Companies of Indonesia, Malaysia, Philippines, Singapore and Thailand establishes 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 Tires, Batteries and Accessories (TBA) Corporation is spun-off.
       
  • 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.
    • PNOC-Energy Development Corporation (PNOC-EDC) and PNOC-Exploration Corporation (PNOC-EC) are created.
    • PNOC-Energy Supply Base (ESB) and PNOC Energy Drilling Division (EDD) are organized to assist PNOC-EDC and PNOC-EC.
       
  • 1977
    • PNOC commissions the 3MW Geothermal Pilot Plant in Tongonan, Leyte.
    • PD 1206 creates the Ministry of Energy (MOE). Velasco is sworn in as Minister of Energy.
       
  • 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 is converted into PNOC Marine Corporation (PMC) and PNOC Shipping and Transport Corporation (PSTC).
       
  • 1979
    • Malangas Coal Corporation (MCC) is created to handle the Malangas Coal Development Project.
       
  • Back to Top1980
    • PNOC-Alocohol Corporation is created to support the Alcogas Program.
    • PNOC Petroleum Tanker, Inc. and PNOC Oil Carriers, Inc. are created to manage M/T Raha Sikatuna and M/T Andres Bonifacio.
    • PNOC-Geothermal Technology Corporation, 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.
       
  • 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.
    • 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.
       
  • 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
    • 112.5MW Tongonan I and 112.5MW Palinpinon I Geothermal Steam Fields of PNOC-EDC 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, in cooperation with the Federal Republic of Germany, inaugurates the 10-KW Solar Power Pilot Plant in Bulacan.
       
  • 1984
    • Bislig Coal Corporation (BCC) is created to undertake the exploration and development of the coal contract area in Barrio Pamaypayan, Bislig, Surigao del Sur.
       
  • 1985
    • PNOC-ESB is merged with PMC to form PNOC Dockyard and Engineering Corporation (PDEC).
    • PNOC simplifies the Organizational Set-Up; dissolves 5 subsidiaries and merges 9 subsidiaries into 4 subsidiaries.
       
  • 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.
       
  • 1988
    • Petron TBA Corporation and BRC are merged into Petron Corporation.
    • PNOC marks the 15th Anniversary with PhP 20.54 Billion in Gross Revenues.
       
  • 1989
    • PDEC wins contract for the building of Power Barges for the Floating Power Stations of the NAPOCOR.
    • MCC reaches an all-time high production of 22,214 metric tons of coal.
       
  • Back to Top1990
    • PNOC successfully weathers the Gulf War-related oil crisis by keeping supply flowing into the country.
    • Training Program on Exploration, Drilling, and Production funded by PetroCanada starts.
       
  • 1991
    • Benjamin E. Diokno is appointed PNOC Chairman and subsequently replaced by Monico V. Jacob.
    • Several subsidiaries are dissolved and/or merged; PNOC is down to 10 subsidiaries.
       
  • 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
    • Delfin L. Lazaro is appointed Secretary of Energy and Ex-Officio Chairman of PNOC; Jacob is appointed President of PNOC; and Manglapus is appointed Chairman of Petron Corporation.
    • PNOC-Petrochemical Development Corporation (PPDC) is incorporated to engage in the business of petrochemicals.
    • 110MW Bac-Man I Geothermal Steam Field of PNOC-EDC is commissioned.
    • Privatization Plan for Petron Corporation is approved.
       
  • 1994
    • Francisco L. Viray is appointed Secretary of Energy; Manglapus is appointed President of PNOC; and Jacob is appointed Chairman of Petron Corporation.
    • PNOC-EC switches on the 3MW San Antonio Gas Power Plant in Echague, Isabela.
    • First 40MW Palinpinon II Geothermal Steam Field of PNOC-EDC is commissioned.
    • PNOC and Saudi Arabian Oil Company (Saudi Aramco) formalize Petron Partnership; thereafter, Petron's Initial Public Offering (IPO) is launched; subsequently, the shares are listed at the Philippine Stock Exchange (PSE).
    • Public Bidding for the 4 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 result in a failure due to lack ofcompetitive bids.
    • An underground methane gas explosion in the Malangas Coal Mine result in the cessation of mining activity and MCC's eventual dissolution.
       
  • 1995
    • PNOC-EDC's second 40MW 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.
    • 21st Council Meeting of ASCOPE directs the Legal and Technical Committees to jointly undertake with the Economic Committee the study on the "Directions and Strategies of ASCOPE for the 21st Century", a Philippine Economic Committee initiative.
  • 1996
    • PNOC remits to the National Government (NG) PhP 10 Billion Special Cash Dividends for the Oil Price Stabilization Fund (OPSF).
    • Ateneo Glee Club sings the PNOC Hymn (the first since its existence) accompanied by the Philippine Philharmonic Orchestra. Composer is Dodgie Simon and arranger is Joel Navarro.
    • 52MW Mindanao I Geothermal Power Plant of PNOC-EDC is commissioned.
    • PNOC gears for the privatization of the geothermal subsidiary, PNOC-EDC.
       
  • 1997
    • PNOC-EDC's 440MW Leyte-Luzon BOT Power Project is commissioned.
    • Proclamation No. 971 declares the 50-hectare property of FDMC as Special Economic Zone.
    • Privatization Master Plan of PNOC-EDC is approved; however, it is deferred in view of the unfavorable equity market conditions.
    • ASCOPE conducts a Strategic Planning Workshop attended by Chairpersons of the Technical, Legal, and Economic Committees to: (1) create an awareness of the issues and opportunities created by current and emerging changes in the region and the rest of the world; (2) reach a common perception and understanding on the opportunities for ASCOPE; and (3) jointly form a vision of ASCOPE's role in the 21st Century.
    • PNOC-EC signs MOU with PITC for possible petroleum exploration and development projects in Iraq.
       
  • 1998
    • PPDC's Petrochem 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
    • Oil rim of the Malampaya Project produced 1.9 million barrels of oil during the Extended Production Test. The SC-38 Consortium continue to conduct meetings and studies to determine the its viability.
    • PNOC-EC and Marubeni Corporation of Japan signs a Memorandum of Understanding for the joint participation in the development of the Liquified Natural Gas (LNG) Ternminal in Bataan and the conversion of the 500-MW Block C of the Limay Power Plant.
    • A Memorandum of Understanding between PNOC and PETRONAS of Malaysia for the field distribution of 6 ENVIRO 2000 cars was finalized. The ENVIRO 2000 Natural Gas Vehicles (NGV) were presented to Her Excellency President Gloria MacapagalArroyo and to the public during the Independence Day Parade on June 12, 2002 that marked the beginning of the 6-month demonstration period.
    • PNOC-EC and the Quezon City government signs a Memorandum of Understanding in August to test the feasibility of using methance gas generated at the Payatas open dumpsites for power generation.
    • PNOC embarked on the pilot installation of 20 Solar Home Systems (SHS) units in Barangay Cambulo, Banaue, Ifugao. 623 SHS units were 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 changes its name to PNOC Development and Management Corporation.
    • PDMC operations focused mainly on the implementation of the socialized housing project. The construction of 142 housing units were completed, awarded and sold to 675 qualifed informal dwellers.
    • The joint review of the Philippine Petrochemical Masterplan by PPDC and PETRONAS was completed.
    • PNOC closes down the PNOC Coal Corporation
       
  • 2003
    • PNOC won 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 were installed in 64 barangays as of December 31, 2003.
    • President Glora Macapagal Arroyo mandated 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 mandated and directed PNOC-EC to undertake the transportation of natural gas pipeline from Batangas to Metro Manila.
    • PSTC acquired the nine-year old M/T General Antonio Luna to serve the long-term contract with Petron Corporation.
    • A joint venture between PDMC and Sta. Lucia Realty was initiated to develop the 32-hectare prime property fronting General Trias Drive into a mixed use residential and retail commercial complex.
       
  • 2004
    • President Gloria Macapagal-Arroyo appoints appoints Eduardo V. Manalac as PNOC President and Chief Executive Officer.
    • PNOC-EDC launched the first small-scale Coco-Methyl-Ester (CME) Plant and demonstrated the first prototype fuel cell developed in the Philippines. A total of 2,085 SHS units were installed as of December 31, 2004.
    • PNOC received the NGV Champion Award fir Asia-Pacific during the International Association for Natural Gas Vehicles (IANGV) Conference in Argentina.
    • A total of 2,085 SHS units were installed as of December 31, 2004.
       
  • 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.
       
  • 2006
    • 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 were signed on March 17, 2006.
    • PNOC EC provided vital technical inputs to the seismic data processing activity in Vietnam for the Joint Marine Seismic Undertaking (JMSU).
    • The draft MOA between PNOC EC and PT Putra Asyano Mutiara Timur (PAMT) was 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 started on March 30, 2006 in Indonesia.
    • Conducted demonstration of the converted PNOC vehicle to the CNG/NGV Team of Petron.
    • A total of 3,336 SHS units were installed in 2006 in various barangays nationwide, bringing total installations to 12,280 units since 2002.
    • PNOC-EDC’s Initial Public Offering was 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.
  • 2007
    • A secondary offering for the sale of the additional 20% of PNOC-EDC common shares was conducted in July at P5.70 per share.
    • In November of the same year, the remaining 60% was auctioned, 40% in common and 20% in preferred shares. Sale of PNOC EDC was 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.
    • PNOC completed 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
    • PSTC acquired 2 double-hull tankers for petroleum products, M/T PNOC Lapu-Lapu and M/T PNOC Emilia Jacinto.
    • PNOC signed 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.
    • PNOC was awarded one of the top 10 in Corporate Governance for GOCCs. This award was 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) was formed to handle Renewable Energy Projects.
  • 2009
    • Completed the “Energy Center Solar Streetlight Conversion Project” with inauguration/switching ceremony held last November 9, 2009 to highlight PNOC’s 36th Anniversary celebration.
    • In December, PAFC’s Industrial Park obtained three prestigious certifications from the International Organization for Standardization (ISO) that boosted its status as a globally-competitive industrial estate since September 2008.
    • PNOC’S Solar Home Systems Project was awarded as one of the winners in the 1st Gawad Pampublikong Korporasyon by the OGCC, one from 35 entries submitted by government corporations which has impact on national development.
    • PNOC assumed the post as the Secretariat of ASEAN Council on Petroleum (ASCOPE) for the next 5 years effective May of 2009, lending pride and prestige not only to PNOC but to the Philippines.
  • 2010
    •  PNOC successfully negotiated the collection of long-standing receivables from the National Development Corporation amounting to P369 million bulk of which are in the form of real estate properties
    • PNOC remitted P501.0 Million in dividends to the Bureau of Treasury last January 31, 2010.
    • As part its corporate social responsibility program, PNOC sponsored a scholarship program for five(5) students enrolled in courses on engineering and natural sciences.  This is covered by a MOA with UP Diliman signed last April 2010.  Management approved the final list of students for scholarship support in August 2010, as recommended by UP Diliman.
  • 2011
    • PNOC remitted P453 Million in dividends to the Bureau of Treasury last January 31, 2011.