PNOC head resigns after being asked to leave
Philippine National Oil Company-Exploration Corp. president and CEO Pedro Aquino Jr. has resigned from his post.
” I was asked by the President to submit my resignation effective Monday, Oct.14,” Aquino said in an interview with ABS-CBN News.
There is still no explanation as to why he was fired, only that his resignation took effect immediately.
The ouster comes as President Duterte firmed up a joint oil and gas exploration deal with China.
Earlier reports said Aquino was slapped with a 30-day suspension allegedly due to an investment agreement signed with a Russian firm without the approval of Energy Secretary Alfonso Cusi.
He was an appointee of former president Benigno “Ninoy” Aquino III. He served as president and CEO of PNOC-EC for seven years.
Prior to that, he served as officer-in-charge of PNOC in 2006, and a senior vice president from 1993 to 2008.
Sent from my Samsung Galaxy smartphone.