The Department of Energy (DOE) is calling on Pilipinas Shell Petroleum Corp. to undertake its initial public offering (IPO) immediately, as the offering has long been overdue since the oil firm is mandated to be a public company since 2002.
Energy Secretary Carlos Jericho Petilla said that the department has sent a letter to Pilipinas Shell to remind the oil company to do its public offering in compliance with the Downstream Oil Industry Deregulation Act of 1998.
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