The PBTF's $500,000 grant will fund the PNOC
operations center for two years, enabling more effective collaboration between members to help shorten the time from project concept to clinical trial opening.
has first option to buy the stake, and has 60 days in which to decide whether or not to exercise the option, he said.
now plans to operate three power plant units of 40 megawatts each.
The contract was then meant to be auctioned out and had attracted local and foreign investor interest but PNOC
Exploration's president said that Energy Secretary Angelo Reyes now wanted to look at other ways of developing the oil rim.
Major industry players analyzed include BASF Philippines, JG Summit Petrochemicals Corp, PNOC
Petrochemical Development, Petron Corporation, and Tosoh.
Chevron Malampaya, a unit of the US energy firm, also has a 45 per cent share, and the Philippines' state-owned PNOC
Exploration Corp has 10 per cent.
Plains All American Pipeline Plinacro PNOC
Another 40% is held by PNOC
and the remaining 20% by more than 220,000 individual and corporate investors, including Petron employees, purchased in a September 1994 stock offering.
10 percent stake is held by state-owned PNOC
The BPC, country's sole importer and distributor of oil and fuels, ended negotiations with the PNOC
to buy the fuel oil at a cost of about $58 million.
Recently released products led to a large win with a US-based mobile wholesale customer, while Cisco PNOC
business provided positive traction.
The seven GOCCs facing closure are: PNOC
Alternative Fuels Corporation (PNOC
Development and Management Corporation (PNOC