Utilities Should be Publicly-Listed

[jpdm]

The raging issue regarding the oil prices in the Philippines as well as other important utilities such as water and electricity prompted one government official to suggest that the government should compel utilities to list in the stock exchange so that the public may scrutinize and monitor their financial statements. This will determine if they are pofiteering or not.

Meralco and Aboitiz are among the utilities companies that are publicly listed.

In the oil industry for instance, the oil deregulation law stipulates that oil firms should immediately list their stocks in the PSE by having their IPO.

Only Petron and perhaps another small oil firm complied with the rule.

Shell, Caltex, Eastern Petroleum, Seaoil have remained unlisted.

Their products are so socially sensitive that their movements are closely monitored by the state and the public.

What do you think?

[coiter]

i think nasa oil deregulation law na oil companies must be publicly listed after a certain period. the issue has been raised this year because of the spiraling cost of crude. pero wala rin.

[jpdm]

i think nasa oil deregulation law na oil companies must be publicly listed after a certain period. the issue has been raised this year because of the spiraling cost of crude. pero wala rin.

Indeed sir, notably Shell and Caltex. But Im not sure whats keeping our regulators from ordering these companies to follow the rules...

perhaps, the government does not want to antagonize Shell because of its pending plan to expand its refinery here in the Philippines?

For me Shell and Caltex should go public so that once and for all their books will be open to the public so that any speculation about their earnings will be diminished somehow....

[True Faith]

Indeed sir, notably Shell and Caltex. But Im not sure whats keeping our regulators from ordering these companies to follow the rules...

perhaps, the government does not want to antagonize Shell because of its pending plan to expand its refinery here in the Philippines?

For me Shell and Caltex should go public so that once and for all their books will be open to the public so that any speculation about their earnings will be diminished somehow....

Agree, sir!

[creepy]

The Oil Deregulation Law mandates companies that operate oil refineries to be publicly listed. Caltex (Chevron) doesn't operate a refinery anymore so it's not required to list.

Pilipinas Shell, on the other hand, has been pretending that it's going to list for a loooooong time. The DOE should impose a fine for every single day it does not list.

[Gen. Miting]

if the law requires them to publicly list their companies, and they're hanging on empty promises. then that's greed na talaga. no doubt.