Further Amending Section 17 Of P.D. No. 87, As Amended, Otherwise Known As The "Oil Exploration And Development Act Of 1972"
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Further Amending Section 17 Of P.D. No. 87, As Amended, Otherwise Known As The "Oil Exploration And Development Act Of 1972"
Presidential Decree No. 781
August 25, 1975
Case Overview and Summary
Summary of Presidential Decree No. 781Amending the Petroleum Board Composition and Chairmanship
- Amends Section 17 of Presidential Decree No. 87, as amended by Presidential Decree No. 469, regarding the composition and chairmanship of the Petroleum Board. (Section 1)
- The Petroleum Board is composed of the following members:
• 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 (Section 1)
- The President of the Philippine National Oil Company shall relinquish the chairmanship and abstain from participating in deliberations whenever matters involving the Philippine National Oil Company, directly or indirectly resulting in a conflict of interest, are presented for consideration by the Board. (Section 1)
- In cases where the President of the Philippine National Oil Company relinquishes the chairmanship due to a conflict of interest, a temporary presiding officer shall be elected from the members of the Board. (Section 1)
- The Decree takes effect upon its approval. (Section 2)
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Executive Issuances
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petroleum
oil exploration
oil development
Petroleum Board
Philippine National Oil Company
conflict of interest
Presidential Decree
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Further Amending Section 17 Of P.D. No. 87, As Amended, Otherwise Known As The "Oil Exploration And Development Act Of 1972"
Presidential Decree No. 781
•August 25, 1975
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 781 August 25, 1975
FURTHER AMENDING SECTION 17 OF PRESIDENTIAL DECREE NO. 87, AS AMENDED, OTHERWISE KNOWN AS THE "OIL EXPLORATION AND DEVELOPMENT ACT OF 1972"
WHEREAS, in order to give impetus to the policy of the state to hasten the discovery and production of indigenous petroleum through the utilization of government and/or private resources, Presidential Decree No. 87 was amended by Presidential Decree No. 469 to reconstitute the membership of the Petroleum Board thereby providing a common forum for coordinating at the policy level the activities and plans of the Petroleum Board and the Philippine National Oil Company, the two principal agencies of the government responsible for carrying out the aforesaid national policy;
WHEREAS, it is advisable that the President of the Philippine National Oil Company should desist from acting as Chairman of the Petroleum Board whenever matters involving the Philippine National Oil Company are being deliberated upon by the Board.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines by virtue of the...
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