Philippine Energy Dept Asks Shell Unit To Submit IPO Plan
August 07, 2008: 02:22 AM EST
MANILA -(Dow Jones)- The Philippine government on Thursday asked Pilipinas Shell Petroleum Corp., a unit of Royal Dutch Shell PLC (RDSA), to submit its plan for an initial public offering of shares.
Under the Oil Deregulation Law which took effect in 1998, oil refineries have to list at least 10% of shareholdings on the Philippine Stock Exchange within three years from the passage of the law.
Shell has deferred its listing, citing poor market conditions and uncertainty over the future of its Philippine refinery.
Energy Secretary Angelo Reyes has written a letter to Pilipinas Shell President Edgar Chua, requesting the company to submit an IPO plan, the Department of Energy said in a statement.
Reyes said the 10-year period since the passage of the oil deregulation law ” is too long a time” for Pilipinas Shell to meet the law’s requirement.
Petron Corp. (PCOR.PH) and Pilipinas Shell are the only oil refiners in the Philippines. Chevron Corp. closed its refinery in 2003.
-By Cecilia E. Yap, Dow Jones Newswires; (632) 848-5051; cecilia.yap@ dowjones.com
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http://money.cnn.com/news/newsfeeds/articles/djhighlights/200808070222DOWJONESDJONLINE000291.htmThis website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
