Equatorial Guinea hosts ethics workshop

Author: Donna Bryson, Associated Press, Published on: 27 March 2006

...[Oil] and gas company executives grappled with [ethical questions] recently during a workshop in Equatorial Guinea... Oil seems to have enriched Equatorial Guinea's kleptocratic leaders alone, as citizens sank deeper into poverty, disease and hopelessness... Sarah Wykes, an Equatorial Guinea specialist with Global Witness,...said more than dialogue was needed. She called on oil companies to make public the...payments they make to the Equatorial Guinea government... Dick Horstan, an assistant general counsel for Marathon Oil Corp., said...American oil companies wanted to be open about their payments... But Marathon will only include its figures in an aggregate with those of other oil companies, arguing that publishing them unilaterally would tell competitors too much about its business... Placido Mico, a leader of Equatorial Guinea's main opposition party...said such discussion...should not distract from the larger question of whether foreign oil companies were propping up an abusive government. [also refers to Riggs Bank (now part of PNC Financial Services)]

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Related companies: Marathon Oil PNC Financial Services Riggs Bank (now part of PNC Financial Services)