Newly-installed Philippine National Oil Company (PNOC) President and CEO Jesus Cristino Posadas said he will tap the private sector to pursue the government-owned oil firm’s projects.
In his speech, Posadas said these will be to fill in strategic industry gaps, such as strategic fuel reserves, ancillary power reserves, and efficiency in government buildings.
Other areas of partnership include the development of hydrogen power, nuclear power — particularly small modular reactors (SMRs), and small-scale natural gas distribution for island electrification.
The Department of Energy (DOE), PNOC’s mother agency, recently signed a memorandum of understanding for the development of SMRs in island provinces. Senate energy committee chairman Sherwin Gatchalian also said in the January episode of Power Podcast that he is in favor of SMRs over the revival of the Bataan Nuclear Power Plant.
Pres. Rodrigo Duterte nominated Posadas, a former Energy Undersecretary, as PNOC’s new head on February 15. Posadas takes over from Reuben Lista, who died in August last year. The former Energy official, then, formally took his seat on February 23.
As Undersecretary from 2016 until early 2022, Posadas was largely involved in establishing the DOE’s circular on energy efficiency as part of the implementation of Republic Act 11285 or the Energy Efficiency and Conservation Act.
Prior to this, he was part of various energy-related corporations that have provided him a close look at the workings of the energy industry. He also gained his vast experience in supply and procurement systems from San Miguel Corporation wherein he retired in 1997.