PNOC Exploration Corp boss resigns on Duterte request

Arianne Merez, ABS-CBN News

Posted at Oct 15 2019 04:30 PM | Updated as of Oct 15 2019 10:41 PM

PNOC-EC President/CEO Pedro Aquino, Jr.

MANILA – (UPDATE) The president and CEO of the Philippine National Oil Company Exploration Corp, Pedro Aquino, said Tuesday he resigned from his post, on President Rodrigo Duterte's request.

Aquino did not elaborate. He told ABS-CBN News that "I was asked by the President to submit my resignation effective Monday, Oct. 14."

Malacañang also confirmed that Duterte asked Aquino to resign "for loss of confidence."

"The President's order is still in line, and pursuant to his anti-corruption campaign in the government, and underscores once again that there are no sacred cows under this Administration," Presidential Spokesperson Salvador Panelo said in a statement.

A Manila Bulletin report last week said Aquino was meted with a 30-day suspension by the board of directors of the PNOC Exploration Corporation (PNOC-EC) over a reported investment deal ith Russian firm Rosnest Oil Company.

The Department of Energy said it would release a statement on the matter on Wednesday.