Royal Dutch Shell is close to listing its Philippine operations, finally pushing ahead with a stake sale to comply with a competition law passed by the Philippine government in 1998.
The oil and gas giant has been linked with a sale since the Philippine government tried to encourage competition in the downstream oil industry that is, oil and gas refining and retailing by passing the Oil Deregulation Law 18 years ago. The law compelled the biggest oil and gas companies to list part of their local businesses.
The company finally moved ahead with the IPO of Shell Philippines on Thursday, starting the ball rolling on a domestic...
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