The Philippine National Oil Company (PNOC) is an energy company created on November 9, 1973, as a government-owned and controlled corporation founded during Ferdinand Marcos' Martial Law era to supply oil to the Philippines. 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 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 history which "signalled the birth of the natural gas industry in the Philippines". PNOC EC’s is involved with the project with Royal Dutch Shell Exploration (as operator) and Texaco.
In 1995, PNOC also ventured into petrochemicals, setting up the Philippines' first petrochemical industrial estate in Mariveles, Bataan.
In 1994, the Government of the Philippines