PNOC Land Ownership in Lamao, Bataan

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PRESIDENTIAL DECREE NO. 949: PNOC Land Ownership in Lamao, Bataan

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Title Supreme Court: PNOC Land Ownership in Lamao, Bataan

Law: Presidential Decree No. 949

Decision Date: Jun 17, 1976

A presidential decree transfers ownership of a parcel of land in Bataan to the Philippine National Oil Company for the establishment and operation of a petrochemical complex, while allowing the existing Philippine Explosives Corporation to continue its operations under PNOC regulations.

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PNOC’s Role in Development and Operation of Petrochemical Industrial Zone

PNOC is tasked to manage, operate, and develop the land as a petrochemical industrial zone.
PNOC may establish, develop, or operate petrochemical and related industries directly, through subsidiaries, or through competent third parties.
PNOC is authorized to enter into joint ventures or partnerships with private entities for petrochemical projects.
PNOC may lease, sell, or convey portions of the industrial zone to private entities involved in petrochemical industries.

Rulemaking Authority of PNOC

PNOC has the authority to prescribe rules and regulations necessary for the establishment, management, operation, and development of the petrochemical industrial zone.

Repeal and Modification of Conflicting Laws

All existing laws, decrees, executive orders, proclamations, rules, and regulations inconsistent with this decree are repealed or modified accordingly.

Effectivity

The decree takes effect immediately upon its issuance on June 17, 1976.

END