PNOC continues to solidify its position as one of the country’s top-performing government-owned-and-controlled corporations (GOCCs), with a dividend remittance of PHP 2.42 billion to the National Government.

The Department of Finance (DOF) announced that total dividend collections from around 50 GOCCs had surpassed Php76 billion as of mid-May, with PNOC ranking among the lead contributors. Other top GOCCs include the Land Bank of the Philippines (PHP 26 billion), the Philippine Amusement and Gaming Corporation (PHP 12.6 billion), the Philippine Deposit Insurance Corporation (PHP 10.13 billion), the Philippine Ports Authority (PHP 5.20 billion), and the Manila International Airport Authority (PHP 3.32 billion).

PNOC’s strong fiscal contribution is rooted in its consistent financial performance. From 2022 to 2024, the company remitted a total of PHP 6.75 billion in dividends and PHP 4.24 billion in taxes.

In a statement released by the DOF, Finance Secretary Ralph G. Recto recognized the crucial role of GOCCs in supporting the government’s efforts to boost non-tax revenues to fund government programs and services without raising taxes.. “I thank our hardworking GOCCs for their continued support to the national government and for heeding the President’s call for an all-inclusive, whole-of-government approach in realizing the government’s development plans that will benefit every Filipino,” he said.

Under Republic Act No. 7656, also known as the Dividend Law, GOCCs are mandated to remit at least 50% of their net earnings from the previous year to the National Government. PNOC has fully complied with this requirement, even increasing its dividend payout to 75% in both 2023 and 2024 in support of the government’s fiscal goals.

PNOC’s financial performance is driven by a diversified portfolio of revenue-generating activities. These include the sale of banked gas, leasing and management of its nationwide real estate assets, earnings from financial investments, and revenues from the operations of its two strategic facilities—the Energy Supply Base in Batangas and the PNOC Industrial Park in Bataan.

The company is committed to contributing to national energy development and economic growth through responsible fiscal management and strategic investments. Moving forward, PNOC aims to sustain its momentum by optimizing its assets, strengthening partnerships, and improving operational efficiency.