Amending Presidential Decree No. 87, Otherwise Known As "The Oil Exploration And Development Act Of 1972"
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Amending Presidential Decree No. 87, Otherwise Known As "The Oil Exploration And Development Act Of 1972"
Presidential Decree No. 469
May 23, 1974
Case Overview and Summary
Amending Presidential Decree No. 87, the "Oil Exploration and Development Act of 1972"Reconstituting the Petroleum Board
- The Petroleum Board is reconstituted with the following members (Section 1):
- President of the Philippine National Oil Company as Chairman
- Secretary of National Defense
- Executive Secretary
- Secretary of Natural Resources
- Secretary of Finance
- Secretary of Justice
- Secretary of Industry
- Governor of the Central Bank
- Director of Mines
- The Board shall designate and appoint its Executive Director. (Section 1)
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Executive Issuances
Presidential Decrees
Oil Exploration
Petroleum Development
Presidential Decree
Petroleum Board
Philippine National Oil Company
Government Agencies
Natural Resources
Energy Policy
Law
Amending Presidential Decree No. 87, Otherwise Known As "The Oil Exploration And Development Act Of 1972"
Presidential Decree No. 469
•May 23, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 469 May 23, 1974
AMENDING PRESIDENTIAL DECREE NO. 87, OTHERWISE KNOWN AS "THE OIL EXPLORATION AND DEVELOPMENT ACT OF 1972"
WHEREAS, it is the declared policy of the State to hasten the discovery and production of indigenous petroleum through the utilization of Government and/or private resources;
WHEREAS, the two provincial agencies of the government responsible for carrying out the foregoing national policy are the Petroleum Board created under Presidential Decree No. 87 and the Philippine National Oil Company created under Presidential Decree No. 364;
WHEREAS, in carrying out their functions, the Petroleum Board, among others, executes and approves all service contracts in connection with exploration and petroleum operations entered into by the Government with all private persons while the Philippine National Oil Company is the Government entity empowered to undertake and engage in, by itself or in consortium with others, exploration activity and other petroleum operations:
WHEREAS, to enable both agencies to fully coordinate their activities and plans at the policy level it is essential to...
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