Industry and Energy

Home page

Industry and Energy

13 foreign oil firms refused to release reports in Azerbaijan

19 September 2008 14:50 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA-Economics. Azerbaijanâ€™s Coalition of Public Unions for Increase of Transparency in Extractive Industries is working to achieve individual reports from oil firms, said Gubad Ibadoghlu, Coordinator of the Coalition.
Five firms, including Middle East Petroleum, Binagadi Oil, BP, Shell and StatoilHydro agreed to submit reports individually as a result of efforts by the Governmental Commission for the Increase of Transparency in Extractive Industries.
Also, Hess Ltd. and SOCAR said they will agree to submit reports individually if all companies agree to the proposal.
Gubad Ibadoghlu added that 13 firms, including Total, ExxonMobil, Devon, Chevron, Rafi Oil FZE and others refused to release reports individually.
Only LUKoil didnâ€™t take a stance on the proposal.
An Extractive Industries Transparency Initiative (EITI) announced by UK Prime Minister Tony Blair at the World Summit on Sustainable Development in Johannesburg, September 2002, expressed as its aim to increase transparency over payments by companies to governments and to government-linked entities, as well as transparency over revenues by those host country governments.