Clark Executive Named to PNOC Mother Company

Michael Ted “Mike” Macapagal is recently appointed to the Board of Directors of the Philippine National Oil Company (PNOC) by President Rodrigo Duterte on September 6, 2019. He replaced Benjamin Magalong, a retired police director who was elected mayor of Baguio city.

He immediately took his oath of office before his cousin, Pampanga’s 2nd District Congressman, Juan Miguel “Mikey”Macapagal Arr oyo.

PNOC’s mother company has two (2) subsidiaries: the PNOC Renewables Corporation (PNOC RC), and the PNOC Exploration Corporation (PNOC EC).

The PNOC was initially established to forge oil-supply partnerships with supplier countries. It further initiated exploration and development of oil and non-oil energy base and other renewable sources.

Its MALAMPAYA deepwater Gas-to-Power project is widely considered one of the most significant endeavors in the history of the country as it “signalled the birth of the natural gas industry in the Phi l i ppi nes.”

Macapagal brings to PNOC a wealth of experience in a corporate setting gained after many years of working abroad.

A business executive in his previous life, Mike Macapagal once served as Division President for Stewart Title, located in the San Francisco Bay Area, California. Stewart is a financial services, information and transaction management company that offers title insurance, title search and escrow services.Thecompany[and its affiliates] is publicly traded both at NASDAQ and the NYSE. It is one of the largest of its kind in the world with offices across the United States and around the globe.

“The Duterte administration, through PNOC, intends to make the country self-reliant in gas and oil and other alternative sources that is clean, efficient, and cost-effective to reduce our dependence on foreign oil,” Macapagal sai d.