On 18th October 2018, Transparency International EU (TI EU) released a report assessing payments to governments made by oil, gas and mining companies in four countries of operation under the EU Accounting Directive. Passed in 2013, the legislation requires large oil, gas, mining and logging companies that are listed and registered in the EU to disclose their revenue payments to governments around the world on a country-by-country and a project-by-project basis. The report ‘Under the Surface’ found that while this legislation has improved transparency, there are weaknesses and a lack of clarity in the way that extractive companies report and in the legislation’s definitions and requirements. 

The report was lauched at a conference held by TI EU and Publish What You Pay (PWYP) on transparency in the oil, gas and mining sectors at the European Parliament. The event focused on the current state and review by the European Commission (EC) of the EU Accounting Directive, set to conclude in the first half of 2019. The goal of TI EU's report is to help the EC make an informed review of current practice. More information is availalbe below.