Lessons Not Learned the Other Shell Report 2004 Dedicated to the Memory of Ken Saro-Wiwa
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Petron Corporation PCOR
C00168-2018 SECURITIES AND EXCHANGE COMMISSION SEC 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) Jan 12, 2018 2. SEC Identification Number 31171 3. BIR Tax Identification No. 000-168-801 4. Exact name of issuer as specified in its charter PETRON CORPORATION 5. Province, country or other jurisdiction of incorporation Philippines 6. Industry Classification Code(SEC Use Only) 7. Address of principal office San Miguel Head Office Complex, 40 San Miguel Avenue, Mandaluyong City Postal Code 1550 8. Issuer's telephone number, including area code (63 2) 886-3888, 884-9200 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 Number of Shares of Common Stock Outstanding and Amount Title of Each Class of Debt Outstanding COMMON (PCOR) 9,375,104,497 PREFERRED SERIES 2A (PRF2A) 7,122,320 PREFERRED SERIES 2B (PRF2B) 2,877,680 PCOR SERIES A BONDS DUE 2021 (IN MIL 13,000 PESO) PCOR SERIES B BONDS DUE 2023 (IN MIL 7,000 PESO) TOTAL DEBT AS OF SEPT 30, 2017 (IN MIL 226,694 PESO-CONSO) 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. -
Sustainability— What Matters?
sustainability — what matters? published by Governance & Accountability Institute, Inc. 845 Third Avenue, Suite 644 New York, New York 10022 646.430.8230 [email protected] www.ga-institute.com sustainability — what matters? 2014 | published by Governance & Accountability Institute, Inc. 845 Third Avenue, Suite 644 New York, New York 10022 646.430.8230 [email protected] www.ga-institute.com authors and architects Hank Boerner — Chairman, Chief Strategist and Co-Founder Governance & Accountability Institute, Inc. Louis D. Coppola — Executive Vice President and Co-Founder Governance & Accountability Institute, Inc. primary researchers Laura Ana Jardieanu Santiago Viteri Table of sustainability — what matters? Contents OVERVIEW page 1 Most Material | Least Material In Reporters' Views 2 Background | Sustainability Reporting Trends 3 Materiality 4 Timing 5 Methodology 6 • Scoring 6 • Sectors 7 • Sector Scoring 8 • Sector Difference Scores 8 • Additional Categories and Aspect Ranks 9 And Now The Results | Top 10 / Bottom 10 9 SECTORS Agriculture 10 Automotive 15 Aviation 20 Chemicals 25 Commercial Services 30 Computers 35 Conglomerates 40 Construction 45 Construction Materials 50 Consumer Durables 55 Energy 60 Energy Utilities 65 Equipment 70 Financial Services 75 Food and Beverage 80 Forest and Paper 85 Healthcare Products 90 Healthcare Services 95 Household and Personal Products 100 Logistics 105 Media 110 Metals Products 115 Mining 120 Public Agency 125 Sustainability – What Matters? | Governance & Accountability Institute, Inc. -
Preliminary Prospectus Dated May 20, 2019 – Part 1
n PETRON CORPORATION (a company incorporated under the laws of the Republic of the Philippines) ffer Shares may not be sold nor may an offer to an offer may be sold nor not may ffer Shares Offer in the Philippines of which such offer, solicitation or sale would be unlawful be unlawful or would sale solicitation such offer, which 15,000,000 Perpetual Preferred Shares Series 3 n inn with Oversubscription Option of up to 5,000,000 Perpetual Preferred Shares Series 3 consisting of Series 3A Preferred Shares (PRF3A): [●]% p.a. Series 3B Preferred Shares (PRF3B): [●]% p.a. at an Offer Price of ₱1,000.00 per Preferred Share to be listed and traded on the Main Board of The Philippine Stock Exchange, Inc. JOINT ISSUE MANAGERS, JOINT LEAD UNDERWRITERS AND JOINT BOOKRUNNERS1 SENIOR CO-LEAD UNDERWRITERS [●] CO-LEAD UNDERWRITERS issued in final form. Under no circumstances shall this Preliminary Prospectus constitute an offer to sell or the solicitatio the or to sell an offer constitute Prospectus Preliminary this shall circumstances Under no form. in final issued [●] PARTICIPATING UNDERWRITERS [•] SELLING AGENTS Trading Participants of The Philippine Stock Exchange, Inc. THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE AND SHOULD BE REPORTED IMMEDIATELY TO THE SECURITIES AND EXCHANGE COMMISSION. This Preliminary Prospectus is dated 20 May 2019. 1 BPI Capital Corporation, one of the Joint Issue Managers, Joint Lead Underwriters and Joint Bookrunners, is the [wholly-owned] investment banking subsidiary of Bank of the Philippine Islands which is the bank which the buy be accepted prior to the time that the Prospectus is is the Prospectus time that to the accepted prior be buy jurisdictio in any Offer the Shares of sale or solicitation offer, any be there shall nor Shares Offer any to buy of an offer jurisdiction. -
Royal Dutch Shell and Its Sustainability Troubles
Royal Dutch Shell and its sustainability troubles Background report to the Erratum of Shell's Annual Report 2010 Albert ten Kate May 2011 1 Colophon Title: Royal Dutch Shell and its sustainability troubles Background report to the Erratum of Shell's Annual Report 2010 May 2011. This report is made on behalf of Milieudefensie (Friends of the Earth Netherlands) Author: Albert ten Kate, free-lance researcher corporate social responsibility Pesthuislaan 61 1054 RH Amsterdam phone: (+31)(0)20 489 29 88 mobile: (+31)(0)6 185 68 354 e-mail: [email protected] 2 Contents Introduction 4 Methodology 5 Cases: 1. Muddling through in Nigeria 6 1a) oil spills 1b) primitive gas flaring 1c) conflict and corruption 2. Denial of Brazilian pesticide diseases 14 3. Mining the Canadian tar sands 17 4. The bitter taste of Brazil's sugarcane 20 4a) sourcing sugarcane from occupiers of indigenous land 4b) bad labour conditions sugarcane harvesters 4c) massive monoculture land use 5. Fracking unconventional gas 29 6. Climate change, a business case? 35 7. Interfering with politics 38 8. Drilling plans Alaska’s Arctic Ocean 42 9. Sakhalin: the last 130 Western Gray Whales 45 10. The risky Kashagan oil field 47 11. A toxic legacy in Curaçao 49 12. Philippines: an oil depot amidst a crowd of people 52 3 Introduction Measured in revenue, Royal Dutch Shell is one of the biggest companies in the world. According to its annual report of 2010, its revenue amounted to USD 368 billion in 2010. Shell produces oil and gas in 30 countries, spread over the world. -
The Corrib Debacle
1. THE CORRIB DEBACLE – WHY IRELAND IS COMPLETELY OFF LIMITS FOR INVESTMENT 1.1 The background to the debacle Natural gas generates over 60% of the electricity in Ireland and fuels homes and industry. While the Kinsale Field was discovered and developed in the early seventies, gas from the European network is currently pumped into the reservoir there over the summer and drawn out over the winter months. Very little is drawn any more from the field itself. Indeed a single gas pipeline from the European grid goes to a compressor station in South Western Scotland and then is routed under the Irish Sea to North of Dublin. The country is hanging off that pipe! Ireland has not had a good innings with petroleum exploration. About 150 exploration wells have been drilled in the Irish Sector, outside of Kinsale Field we had to wait until 1996 until Enterprise Energy Ireland finally hit pay dirt with the Corrib Natural Gas Field. Note: Shell Exploration and Production Ireland Ltd (SEPIL) acquired Enterprise Energy Ireland in 2002. A pretty poor run from exploration in Irish waters, in particular given that a drilling rig costs about €0.6 million per day and the success ratio in the North Sea sector is about one producing field for every four exploration wells drilled. 1 Bit of a difference in petroleum finds in North Sea and Irish waters. However, many Irish are insistent that the same exploration terms should apply in both jurisdictions. The Corrib field is marginal by international standards; the well head is 80 km off the exposed North Western Coast and at a depth of 300 m. -
WHO's WHO Shell Brian Foley, Contracts Manager, Corrib Project
OSSL SHELL CORRIB SAGA - WHO'S WHO Shell Brian Foley, Contracts Manager, Corrib Project: [email protected] Julia Busby, Head of Shell Legal: [email protected] Frances van Dam, from Shell's business integrity department: [email protected] Charles Hornsby, Ethics and Compliance Officer at Shell Downstream [email protected] Bridgit Lowe, head of Shell Legal, Ireland [email protected] John Gallagher: [email protected] (Exec VP Shell Global Upstream) Alan Mee: Assistance Mayo Manager: [email protected] Ann Hamilton, Shell Corrib Financial Director: [email protected] Wim-Peter Vanbel, [email protected] (regional head Business Integrity Dept Europe & Russia Christy Loftus, Shell Ireland Communications: Christy Loftus [email protected] Michiel Brandjes, Company Sec. & General Counsel: [email protected] Agnes Mclaverty, Permits and Consents Manager for Shell E&P Ireland Limited: [email protected] Mary Barrett, Emergency Response Co-Ordinator Shell [email protected] Peter Voser, RDS PIc CEO: [email protected] Conner Byrne, Shell EP Ireland" (said to have demanded that invoices be falsified and diverted to Roadbridge to avoid any direct connection with Shell - also said to have threatened that OSSL would never work again in oil and gas industry if it revealed any of the activity) Terry Nolan, former CEO, Shell E&P Ireland Michael Crothers, CEO Shell E&P Ireland: [email protected] (said to have "personally felt some moral obligation ..." ) Roadbridge (Main Contractor on Corrib Project?) OSSL people Desmond Kane: [email protected] Amanda Kane Neil Rooney: [email protected] OSSL Supporter/agent/employee? - GEORGE HAMILTON George Hamilton: georgehamiltoneollve.ie Sent email in support of OSSL to Shell to Sea, also made several postings on our "Shell Blog", all supportive of OSSL. -
Final Offer Supplement Dated October 12, 2016
Petron Corporation (a company incorporated under the laws of the Republic of the Philippines) OFFER SUPPLEMENT Offer of P15,000,000,000 Fixed Rate Bonds with an Oversubscription Option of up to P5,000,000,000 Fixed Rate Bonds consisting of Series A Bonds: 4.0032% p.a. due 2021 Series B Bonds: 4.5219% p.a. due 2023 Offer Price: 100% of Face Value to be listed in the Philippine Dealing & Exchange Corp. JOINT ISSUE MANAGERS, JOINT LEAD UNDERWRITERS & BOOKRUNNERS CO-LEAD UNDERWRITERS PARTICIPATING UNDERWRITER The proceeds of the offer will be partly used for the payment of the outstanding short-term loans of Petron Corporation from BDO Unibank, Inc., the parent company of BDO Capital & Investment Corporation. THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED THESE SECURITIES OR DETERMINED IF THIS OFFER SUPPLEMENT IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE AND SHOULD BE REPORTED IMMEDIATELY TO THE SECURITIES AND EXCHANGE COMMISSION. The date of this Final Offer Supplement is October 12, 2016. Petron Corporation SMC Head Office Complex 40 San Miguel Avenue Mandaluyong City, Philippines Telephone Number: (632) 886 3888 Corporate Website: www.petron.com Petron Corporation (“Petron”, the “Company” or the “Issuer”), a corporation duly organized and existing under Philippine law, has prepared a Final Prospectus dated October 12, 2016 (the “Prospectus”) relating to the shelf registration and sale in the Philippines of fixed rate bonds (the “Bonds”) in the aggregate principal amount of P40,000,000,000. The Bonds will be issued in tranches within a period of three (3) years from the effective date of the Registration Statement, subject to applicable regulations (the “Shelf Period”). -
Fossil Fuel Subsidies in Ireland Financing Climate Chaos
Fossil fuel subsidies in Ireland Financing Climate Chaos Citizens for Financial Justice project March 2020 Author: Clodagh Daly 1 Table of Contents Introduction……………………………………………………………………………………….8 1. Natural gas 1. ‘Meet the new boss, same as the old boss’: the myth of natural gas as a transition fuel……………………………………………………………………………….10 2. Box 1: Shaping transition narratives……………………………………………..12 3. A ‘leisurely’ climate emergency? Natural gas in the Irish policy context……….13 2. Subsidies 1. What is a ‘subsidy’? Overcoming ambiguous definitions……………………….18 2. The case for removing natural gas production subsidies……………………...…20 3. Case studies 1. Public finance as a pillar for natural gas infrastructure………………………….25 2. Tax exemptions, i.e. ‘fossil fuel welfare’………………………………………..31 3. Investments by State-owned enterprises…………………………………………35 4. Fiscal support…………………………………………………………………….41 4. Conclusion and recommendations……………………………………………………….45 5. Annex…………………………………………………………………………………….47 Executive summary Natural gas is a highly potent fossil fuel consisting of mostly methane gas that can trap heat up to 86 times more efficiently than carbon dioxide in a 20-year period. According to the IPCC, there is no pathway to remain within 1.5°C that is compatible with natural gas expansion.1 However, the fossil fuel industry presents energy interests as a critical element of Ireland’s transition. Irish energy and climate policy describe gas as a ‘transition’ fuel whose share in the energy mix is consistent with Ireland’s climate objectives.2 Conversely, a central element of a transition underpinned by science and climate justice requires governments to make financial flows and energy investments ‘consistent with a pathway towards low greenhouse gas emissions and climate-resilient development’ in accordance with Article 2.1c of the Paris agreement. -
Assessing the Corrib Gas Controversy: Beyond ‘David and Goliath’ Analyses of a Resource Conflict
Assessing the Corrib gas controversy: Beyond ‘David and Goliath’ analyses of a resource conflict Slevin, A. (2019). Assessing the Corrib gas controversy: Beyond ‘David and Goliath’ analyses of a resource conflict. The Extractive Industries and Society, 6(2), 519-530. https://doi.org//10.1016/j.exis.2018.11.004 Published in: The Extractive Industries and Society Document Version: Peer reviewed version Queen's University Belfast - Research Portal: Link to publication record in Queen's University Belfast Research Portal Publisher rights © 2018 The Authors. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/,which permits distribution and reproduction for non-commercial purposes, provided the author and source are cited. General rights Copyright for the publications made accessible via the Queen's University Belfast Research Portal is retained by the author(s) and / or other copyright owners and it is a condition of accessing these publications that users recognise and abide by the legal requirements associated with these rights. Take down policy The Research Portal is Queen's institutional repository that provides access to Queen's research output. Every effort has been made to ensure that content in the Research Portal does not infringe any person's rights, or applicable UK laws. If you discover content in the Research Portal that you believe breaches copyright or violates any law, please contact [email protected]. Download date:26. Sep. 2021 Assessing the Corrib gas controversy: Beyond ‘David and Goliath’ analyses of a resource conflict Abstract Since its discovery offshore Ireland in 1996, Corrib gas has become synonymous with controversy and social- ecological upheaval. -
Info Pack Nov 09
The €420 billion giveaway How Ireland is losing its valuable natural resources An information pack on Ireland’s offshore oil and gas and the Corrib Gas controversy, prepared by Dublin Shell to Sea November 2009 PHOTO: WILLIAM HEDERMAN INTRODUCTION BACKGROUND TO THE Natural resources are the primary wellspring of the world’s CONTROVERSY wealth. Oil and gas in particular have played a central role in economic development since the early 20th century. When news of the Corrib gas field first emerged, many Erris residents who are today critical of the project were Ownership and control of these resources have been con- excited by the prospect of local jobs. However, concerns tested at many historical junctures. The discovery – recent about the location of the refinery and the safety of the raw and ongoing – of rich deposits of oil and gas off the west gas pipeline soon emerged.1 coast of Ireland has visited a conflict on a remote Co Mayo community since the year 2000. Events since then have Residents learned that the pipeline was unique for a popu- made this a national issue. lated area: as a new cost-saving measure, the gas would not be processed on a platform at sea, as is standard practice The aim of this pack is to provide information for journal- in other countries. Instead, the oil consortium would lay a ists, public representatives and others about Ireland’s off- high-pressure pipeline to carry raw, odourless gas, contain- shore oil and gas and, in particular, the Corrib Gas contro- ing an unpredictable mix of corrosive chemicals, through versy. -
Downloads/2004/Press 09-04.Html)
Corporate Engagement Review Shell February 2007 This is the third Corporate Engagement Review of Shell. In 2005 we reviewed Shell prior to their sponsorship of WPY (Appendix II), and the earlier one was done in 1997 prior to the start of our relationship with Shell (Appendix III) This review is intended to update the 2005 review, and includes major issues raised, or continuing to dominate the press since they began their sponsorship, changes in their CSR & environmental policies and new major gifts/sponsorships/awards of other organisations. About the company Royal Dutch Shell and Shell Transport and Trading were unified on 20th July 2005 under a single new parent company, Royal Dutch Shell plc. Previously the company group was 60% owned by the Royal Dutch Petroleum Company and 40% by the Shell Transport and Trading Co. plc. The major issues currently surrounding Shell which need to be considered are: Sakhalin – this was raised in the 2005 review. Shell no longer has a controlling stake since Gazprom took over control in December 2006, but they do remain a major shareholder. Nigeria – this was raised in both the earlier reviews, and still remains a serious issue. Ireland – the Corrib field, a proposed development subject to much protest at the moment. This is a newer development, and so wasn’t raised in the earlier reviews Charity Commission complaint against the Shell Foundation Shell’s profits Negative press surrounding Shell’s sponsorship of WPY (Appendix I) Sakhalin Shell has bowed to pressure from the Russian government to allow state-owned energy company Gazprom to take a controling interest in the Sakhalin-2 oil and gas field. -
Shell to Sea Report for the People's Permanent Tribunal Lima May 2008 -.: ENLAZANDO ALTERNATIVAS
Shell to Sea Report for the People’s Permanent Tribunal Lima May 2008 1 Report compiled by Eve Campbell and Niall Harnett Mark Garavan Thanks to Pepe Special thanks to volunteer translators: Rosario de Zayas Rueda, Italy. Nancy Serrano, (Gluaiseacht), Co Limerick. Martina Hemmersbach, Ennistymon, Co Clare. Martha Fabregat Carceller, Gort, Co Galway. Photo credits Terry Dunne Jan Pesch Eve Campbell Franc Myles 2 Table of contents RESUMEN DEL INFORME 4 IDENTIFICATION OF THE MAIN IMPACTS 6 ON PEOPLE'S AND HUMAN RIGHTS: Introduction 6 Overview of the Corrib Project 7 Pollution 8 • The refinery • Carrowmore Lake • Broadhaven Bay Health and Safery 10 • The Refinery • The Pipeline Livelihoods 10 Lack of Democracy in the Planning Process 11 • The Systematic Blocking of Public Participation 13 CASE STUDY: The TNCs and the Irish State Forestry Company in Corrib 15 CASE STUDY: The TNCs and the Irish State Forestry Company in Corrib IN 19 SPANISH INSTRUMENTS AND ACTORS THAT EXPLAIN 22 THE SYSTEMATIC DIMENSIONS OF THE CASE Introduction 22 Ownership and Control: Fiscal and Licensing Terms Governing Oil and Gas 22 Exploitation and Production Changing Laws for the Oil Companies 23 Jailing : The Rossport 5 25 Political Policing: Shell’s Cops 26 ACCUSATION 28 Environmental Impact Assessment 30 Seveso 2 Directive 30 The Water Quality Directive 30 Various Public Consultation Directives 30 The Habitats Directive 30 ACCUSATION IN SPANISH 32 RESISTANCE AND ALTERNATIVES AND HOW THE TRIBUNAL CAN CONTRIBUTE 38 TO THIS APPENDIX 40 Report of an International Fact Finding Delegation to Co. Mayo, Ireland 40 February 23-27, 2007 Executive Summary of the Centre for Public Enquiry Report 45 Key findings of the Accufacts report 47 BIBLIOGRAPHY 48 3 RESUMEN DEL INFORME El Campo Corrib es una reserva de gas natural situado a 80 kilometros de la costa oeste del condado de mayo, que contiene 11 trillones de pies cubicos (TCF) de gas natural.