The board of Philippine National Oil Co., the government’s energy arm, elected Oliver Butalid as the new president and chief executive replacing Jesus Posadas on July 3.
Butalid served as one of the pioneering commissioners of the Energy Regulatory Commission in 2001, where he played a pivotal role in crafting the rules for the Wholesale Electric Spot Market, the establishment of the Magna Carta for Electricity Consumers and the privatization of off-grid areas.
Butalid was president and chief executive of Philippine Mining Development Corp. from 2007 to 2010. PMDC is a GOCC established by the Department of Environment and Natural Resources to oversee the development of key mining areas.
He was also a member of the board of governors at the Board of Investments from 2010 to 2016.
He is also a Fellow of the Institute of Solidarity in Asia and the Institute of Corporate Directors.
He graduated from the School of Economics of the University of the Philippines Diliman and obtained his Master in Business Economics from the University of Asia & the Pacific.