PNOC head resigns

The president and chief executive officer of the state-run Philippine National Oil Corp. (PNOC) has resigned.

Eduardo Mañalac, concurrently Energy undersecretary, reportedly resigned for health reasons.

Energy Secretary Raphael Lotilla said yesterday Mañalac submitted his resignation from PNOC and its subsidiaries "to enjoy his retirement with his family." Lotilla said Mañalac is "undergoing intensive health tests." He did not elaborate.

Mañalac’s resignation from government service comes at a time when government is preparing to bid out the contract for the development of Malampaya gas field off Palawan.

Lotilla said President Arroyo would be making an announcement on Mañalac’s replacement. Mañalac served for four years as Energy undersecretary and PNOC chief executive.

Also at the time of his resignation, PNOC was involved in "several important initiatives," including the South China Sea tripartite seismic study, and the partial privatization of PNOC-Energy Development Corp.

However, sources at the energy department said Mañalac was asked to step down.

Some Malacañang officials reportedly disapproved of Mañalac’s preference for Mitra Energy Ltd. over Burgundy Global Exploration Corp. on the Camago-Malampaya oil leg development. — Ted Torres