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Cusi swears in new PNOC-EC president

Energy Secretary Alfonso Cusi on Monday sworn in retired Philippine Air Force Commanding General Rozzano Briguez as new president of state-run PNOC Exploration Corp.

Briguez replaced former PNOC EC president and chief executive officer Pedro Aquino Jr. Aquino served as officer-in-charge-president of parent Philippine National Oil Co. in 2006. He was later appointed PNOC Exploration president in 2012 and re-appointed by Duterte in January 2017.

President Rodrigo Duterte asked Aquino to resign effective October 14 for allegedly approving an agreement with a Russian company to develop a multilateral cooperation in oil products and trading, and joint participation in oil refining without the permission from the board or Cusi.

PNOC EC is a subsidiary of PNOC and currently holds a 10-percent stake in the $4.5-billion Malampaya gas project in northwest Palawan.

The board of state-run PNOC EC approved an operating budget of P10.593 billion for 2020 to finance exploration and production projects and other capital expenditures. 

Topics: Alfonso Cusi , Department of Energy , PNOC Exploration Corp. , Rozzano Briguez
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