Group Says Energy Companies Must Disclose More

Group Says Energy Companies Must Disclose More

The anti-corruption group Transparency International rated more than 40 energy companies on how much they disclose about where they get their revenue, how much they pay host governments and how they operate.

The survey gave low grades to Exxon Mobil but praised Shell and Petrobras.

Royal Dutch Shell PLC, Brazil’s Petrobras, Norway’s StatoilHydro ASA and Petro-Canada are among the most forthcoming companies. U.S.-based Exxon Mobil Corp., Russia’s OAO Lukoil and the China National Offshore Oil Corp., known as CNOOC, fell into the lowest tier.

“Information is crucial, it’s fundamental for civil societies to request information on where the revenue from energy extraction is going to and coming from,” said Juanita Olaya, who manages the program for the report.

Exxon Mobil said it was working to establish transparency agreements with governments where it had significant investments, including Chad, Azerbaijan, Kazakhstan and Nigeria.

The company said in a statement that it was “committed to honest and ethical behavior” and “constructively participates in transparency and anti-corruption programs.”

BP PLC, Chevron Corp., ConocoPhilips, Eni SpA and Total SA were in the middle tier of companies that disclose revenue by geographic region and which the report said could improve by giving a country-by-country breakdown.

Share this post