STATE-RUN Philippine National Oil Co. (PNOC) and Israeli firm Ratio Petroleum Ltd. signed a non-binding agreement to explore petroleum resources in the Philippines, the Department of Energy (DoE) said.
Department of Energy (DOE) Secretary Alfonso G. Cusi (center) witnessed the signing of the Memorandum of Understanding (MOU) between the Philippine National Oil Company (PNOC) and Israeli firm Ratio Petroleum Ltd. held today at the PNOC office.