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Article

18 Jun 2003

Author:
Carola Hoyos, Financial Times

Africans [Nigeria & São Tomé] to disclose details of oil deals

Nigeria and São Tomé pledged on Wednesday to publish the financial results of their next licensing round for a $270m (£160m) oilfield. The decision is a breakthrough for the UK-led campaign to reduce corruption in oil and mineral-rich developing countries by pushing governments to disclose the amount of money international companies pay to develop their resources.