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 19, 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 - “Shell in exploratory talks with government on LNG plant”

Source	BusinessMirror (Internet Edition)
Subject of News Report	“Shell in exploratory talks with government on LNG plant”
Date of Publication	May 19, 2017

Clarification of News Report
Clarification of News Report - “Shell in exploratory talks with government on LNG plant” BusinessMirror (Internet Edition) published on 19 May 2017 the attached news report entitled “Shell in exploratory talks with government on LNG plant”, the pertinent portion reads: “SHELL Philippines admitted it held exploratory discussions with the government for a possible partnership on an ambitious liquefied natural-gas (LNG) project, but no firm decision has been made yet. ‘We talked to them, with Admiral Lista…we are very open to partnerships with various groups, including the Philippine National Oil Co. [PNOC],’ Shell President Cesar Romero said. PNOC President Reuben Lista earlier said Shell was among parties he had discussions with regarding the plan of the government to build an LNG terminal. No firm offer from Shell was made, Lista said. ‘LNG, that’s one area we really want to successfully bring into the country. Kaya lang, it’s a bit tricky because we have to form partnerships…but the key is to be able to understand how economics would work because it is a huge investment,’ Romero said. ‘An LNG facility costs between $600 million and $1 billion. This is why you need partners to be able to balance it off. Second, the economics must be carefully understood in terms of how the investment will be,’ Romero said. Shell is among the local companies that had expressed intention to build an LNG terminal in the country. The company was mulling over putting up a new entity that would house its LNG business. . . . .” We would like to clarify that Pilipinas Shell Petroleum Corporation (the “Registrant”) is not in exploratory talks with the government. The Registrant is an entity separate and distinct from other Shell companies operating in the Philippines. In the above-quoted news article, Mr. Cesar G. Romero was speaking in his capacity as the Country Chairman of Shell Companies in the Philippines and not as the President of the Registrant. We trust you will find the foregoing in order.
Other Relevant Information
Please refer to the attachments.