18 April 2018, Pasay City – PNOC Exploration Corporation was awarded the prestigious Philippine Extractive Industries Transparency Initiative (PH-EITI) Transparency Award for Excellence in Reporting under the Company category – Oil and Gas Sector. The Annual PH-EITI Transparency Awards bestows honors to national government agencies, local government units, companies, and civil society organizations for outstanding performance and achievement in the implementation of EITI in the Philippines and in advancing the cause of transparency in the extractive industry.
EITI is a global standard ensuring transparency of revenues from natural resources. It is a government-led initiative but being implemented with active involvement of partners from industry and society at large. It provides a platform to systematically report on, review, and assess what is being paid by companies and received by governments.