Section 5Republic Act No. 5092 and other laws relating to the promotion and regulation of the exploration, exploitation and development of geothermal energy, natural gas and methane gas are likewise transferre, Sec./Art. 5

Abolition of the Petroleum Board. The Petroleum Board is hereby abolished and its powers and functions are transferred to the Board together with applicable funds and appropriations, records, equipment, property, and such personnel as may be necessary.