SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-A, AS AMENDED

ANNUAL REPORT PURSUANT TO SECTION 17
OF THE SECURITIES REGULATION CODE AND SECTION 141
OF THE CORPORATION CODE OF THE PHILIPPINES

1. For the fiscal year ended

Dec 31, 2016

2. SEC Identification Number

14829

3. BIR Tax Identification No.

000-164-757

4. Exact name of issuer as specified in its charter

Pilipinas Shell Petroleum Corporation

5. Province, country or other jurisdiction of incorporation or organization

Makati City, Metro Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

Shell House, 156 Valero St., Salcedo Village,Brgy. Bel-Air, Makati City Postal Code 1227

8. Issuer's telephone number, including area code

+632 4994001

9. Former name or former address, and former fiscal year, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock	1,613,444,202

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

Philippine Stock Exchange / Common

12. Check whether the issuer:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17.1 thereunder or Section 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of The Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

(b) has been subject to such filing requirements for the past ninety (90) days

Yes

No

13. State the aggregate market value of the voting stock held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within sixty (60) days prior to the date of filing. If a determination as to whether a particular person or entity is an affiliate cannot be made without involving unreasonable effort and expense, the aggregate market value of the common stock held by non-affiliates may be calculated on the basis of assumptions reasonable under the circumstances, provided the assumptions are set forth in this Form

About P54.5 B (at Php 75.5/share on March 9, 2017)

APPLICABLE ONLY TO ISSUERS INVOLVED IN INSOLVENCY SUSPENSION OF PAYMENTS PROCEEDINGS DURING THE PRECEDING FIVE YEARS

14. Check whether the issuer has filed all documents and reports required to be filed by Section 17 of the Code subsequent to the distribution of securities under a plan confirmed by a court or the Commission.

Yes

No

DOCUMENTS INCORPORATED BY REFERENCE

15. If any of the following documents are incorporated by reference, briefly describe them and identify the part of SEC Form 17-A into which the document is incorporated:

(a) Any annual report to security holders

Audited Financial Statements

(b) Any information statement filed pursuant to SRC Rule 20

-

(c) Any prospectus filed pursuant to SRC Rule 8.1

-

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Pilipinas Shell Petroleum CorporationSHLPH

PSE Disclosure Form 17-1 - Annual Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the fiscal year ended	Dec 31, 2016
Currency (indicate units, if applicable)	PHP in 000's

Balance Sheet

	Year Ending	Previous Year Ending
	Dec 31, 2016	Dec 31, 2015
Current Assets	38,856,348	36,655,694
Total Assets	70,609,251	66,234,113
Current Liabilities	22,400,832	18,901,265
Total Liabilities	37,680,978	40,138,983
Retained Earnings/(Deficit)	5,111,868	181,508
Stockholders' Equity	32,928,273	26,095,130
Stockholders' Equity - Parent	-	-
Book Value per Share	20.4	16.5

Income Statement

	Year Ending	Previous Year Ending
	Dec 31, 2016	Dec 31, 2015
Operating Revenue	136,763,286	156,977,696
Other Revenue	647,454	298,461
Gross Revenue	137,410,740	157,276,157
Operating Expense	125,524,606	150,271,887
Other Expense	1,058,018	1,781,265
Gross Expense	126,582,624	152,053,152
Net Income/(Loss) Before Tax	10,828,117	5,223,005
Income Tax Expense	3,384,342	1,669,809
Net Income/(Loss) After Tax	7,443,775	3,553,196
Net Income/(Loss) Attributable to Parent Equity Holder	-	-
Earnings/(Loss) Per Share (Basic)	4.68	3.48
Earnings/(Loss) Per Share (Diluted)	4.68	3.48

Financial Ratios

	Formula	Fiscal Year Ended	Previous Fiscal Year
		Dec 31, 2016	Dec 31, 2015
Liquidity Analysis Ratios:
Current Ratio or Working Capital Ratio	Current Assets / Current Liabilities	1.7	1.9
Quick Ratio	(Current Assets - Inventory - Prepayments) / Current Liabilities	0.6	0.7
Solvency Ratio	Total Assets / Total Liabilities	1.9	1.7
Financial Leverage Ratios
Debt Ratio	Total Debt/Total Assets	0.2	0.2
Debt-to-Equity Ratio	Total Debt/Total Stockholders' Equity	0.4	0.6
Interest Coverage	Earnings Before Interest and Taxes (EBIT) / Interest Charges	24	6.2
Asset to Equity Ratio	Total Assets / Total Stockholders' Equity	2.1	2.5
Profitability Ratios
Gross Profit Margin	Sales - Cost of Goods Sold or Cost of Service / Sales	0.2	0.1
Net Profit Margin	Net Profit / Sales	0.05	0.02
Return on Assets	Net Income / Total Assets	0.11	0.05
Return on Equity	Net Income / Total Stockholders' Equity	0.23	0.14
Price/Earnings Ratio	Price Per Share / Earnings Per Common Share	14.9	-

Other Relevant Information
Audited FS attached