SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

May 17, 2017

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

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

(63 2) 816 6501

9. Former name or former address, 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	1,613,444,202

11. Indicate the item numbers reported herein

Item 9

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 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of News Report - “Oil firm to spend $400M till 2020…”

Source	Malaya Business Insight
Subject of News Report	Oil firm to spend $400M till 2020…
Date of Publication	May 17, 2017

Clarification of News Report
Malaya Business Insight published on 17 May 2017 the attached news report pertaining to Pilipinas Shell Petroleum Corporation (the “Registrant”), entitled “Oil firm to spend $400M till 2020…”, the pertinent portion reads: “LISTED oil firm Pilipinas Shell Petroleum Corp. (PSPC) eyes to invest up to $400 million until 2020 that will mainly be spent on network efficiency and expansion as well as for its planned bitumen facility. The company looks to spend P4 billion or $100 million each year. Cesar Romero, PSPC president and chairman, said ‘$20 million to $25 million (is) for retail (and) $13 million for bitumen. Another $20million to $25 million (is) for the refinery to support both the ongoing maintenance. . . The balance is in the general supply chain capex.’ . . . .” We would like to clarify the above-quoted news article: 1. The Registrant plans to spend PhP4 billion, or up to USD100 million each year for three years or from 2017 to 2019; and 2. Mr. Asada Harinsuit is the new Chairman of the Board of Directors of the Registrant, succeeding Mr. Edgar O. Chua, following his election during the Organizational Meeting of the Board of Directors of the Registrant on 16 May 2017. Mr. Cesar G. Romero is the President of the Registrant. We trust you will find the foregoing in order.
Other Relevant Information
Please see attachment.