Malacañang reportedly asks for resignation of PNOC-EC president

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Malacañang has formally sought the resignation of the president and chief executive officer (CEO) of state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) over a Russia oil deal that did not get prior approval from the government company’s board of directors.

According to highly placed sources, it was President Rodrigo Duterte, himself, who sought for the resignation of PNOC-EC President Pedro A. Aquino in a recent meeting in the Palace.

When asked on this development, Cusi indicated that he will discuss the issue with the media in a “separate forum”, as he was attending the switch-on ceremony of the 500-megawatt San Buenaventura Power Co. Ltd. generating facility when thrown with that particular query. Aquino has been a long-time serving executive of PNOC until he was named president of PNOC-EC under the Aquino regime then in this current leadership.

 

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