Executive Order No. 171
AMENDING CERTAIN
PROVISIONS OF
PRESIDENTIAL DECREE NO. 334, AS AMENDED,
AND EXECUTIVE ORDER NO. 131
WHEREAS,
there is a need to reorganize the
Philippine
National Oil Company (PNOC) to make it responsive to the requirements of
the industry;
WHEREAS,
pending the adoption by Congress of a law standardizing the compensation of
government-owned and controlled corporations with original charters, there is a
need to make the
PNOC salaries
competitive with the private sector;
NOW,
THEREFORE, I, CORAZON C. AQUINO, President of the
Section
1. The
Philippine
National Oil Company (PNOC) shall have the following purposes:
(a) To
provide and maintain an adequate and stable supply of oil and petroleum
products for the domestic requirement and for that purpose to engage in the
transportation, storage, importation, exportation, refining, supply, sale and
distribution of crude oil, refined, petroleum and petroleum based products,
whether imported or produced by local refineries;
(b) To
engage in the exploration, exploitation and development operations and other
energy resources;
(c) To
foster conditions relating to oil or petroleum operations and other energy
resources exploitation conducive to a balanced and sustainable growth of the
economy;
(d) To
undertake, by itself or otherwise, exploration, exploitation, and development
of all energy resources of the country, including surveys and activities
related thereto;
(e) To
undertake all other forms of petroleum or oil operations and other energy
resources exploitation.
SEC.
2. All of the powers and functions of
PNOC as provided in
P.D.
334, as amended, except the regulatory functions, are hereby
maintained.
SEC.
3. As a transitory measure,
PNOC shall, for a period of two (2) years, continue
to use the facilities of the National Coal Authority which is to be integrated
with the
Natural Resources Development
Corporation pursuant to Executive Order No. 131, subject to continued
payment at current rate without escalation for a period of two (2) years.
SEC.
4. Pending the adoption by Congress of a
law standardizing salaries and benefits of government-owned and controlled
corporations with original charters, the personnel of
PNOC shall be exempt from the Office of
Compensation and Position Classification.
SEC.
5. The directors and officers of
PNOC may hold concurrent positions in
PNOC subsidiaries and receive reasonable
compensation therefor.
SEC.
6. Employees and officers of the
subsidiaries of
PNOC may be detailed to
PNOC for periods not exceeding one (1) year,
or when necessary to maximize manpower use, they may be given concurrent
positions in
PNOC, subject to a
cost-sharing arrangement between PNOC and it subsidiaries.
SEC.
7. For efficiency of operations and
maximum utilization of personnel,
PNOC
may, if warranted, set up a management company to supervise and coordinate the
various activities of
PNOC and its
subsidiaries.
SEC.
8. The provisions of paragraph 4,
Section 4, Section 5 (c) and (f) of Executive Order No. 131,
Charter of the
Department of Environment, Energy and Natural Resources, to the extent
inconsistent herewith, are hereby amended accordingly. lawphi1.net
SEC.
9. This Executive Order shall take
effect immediately.
Done
in the City of
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