When We Started
PL15-08 establishes the FSM Petroleum Corporation with a mandate to stabilize fuel prices and purchase the assets of Mobil Oil Micronesia. (September 11, 2007)
Company History
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Our History
2007
2007
FSMPC
PL15-21 amends Section 265 of PL15-08 to ‘provide an alternative procedure for divestment of assets and operations’ of the FSMPC through the issuance of common shares. (December 7, 2007)
2014
Coconut Tree Act
PL18-68 known as the ‘Coconut Tree Act' dissolves the FSM Coconut Development Authority and mandates ‘responsibility for coconut development’ to FSMPC. (June 16,2014)
2023
Transformation Act
PL22-171 known as the ‘Transformation Act’ require FSMPC to create and execute strategic plans to transition into an energy company, to expand its business activities into renewable sources of energy, and to provide for changing the Corporation’s name to reflect its expanded business activities. (January 4, 2023)