LNG

PNOC risks closure as it struggles with LNG terminal plans

PNOC could be closed or merged with subsidiaries if it continues to struggle to implement a proposed LNG terminal.
By Staff reporter 19 December 2018 0 33743

State-owned Philippine National Oil Co. (PNOC) could be closed or merged with its exploration and renewables subsidiaries if it continues to struggle to implement a proposed LNG terminal, the Manila Standard reported on Tuesday, citing Philippine Energy Secretary Alfonso Cusi.

“I want to abolish things that are not performing, offices that are not performing. I told [PNOC Chief Executive Reuben Lista] that maybe it would be better to close down PNOC if it is not performing,” said Cusi, who is...