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New report by Global Witness looks at secrecy surrounding revenues paid to govts. by oil & mining companies, & how this contributes to poverty

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Article
23 March 2004

Global oil and mining sleaze uncovered: now it’s time for transparency

Author: Global Witness

The oil and mining industries are facing a global epidemic of financial scandals, with billions of dollars in revenues unaccounted-for in some of the world’s poorest countries, according to a new report by Global Witness. Based on extensive investigations, Time for Transparency focuses on five countries - Angola, Congo-Brazzaville, Equatorial Guinea, Kazakhstan and Nauru. It shows that secrecy about revenues paid to governments by oil and mining companies has abetted the disappearance of vast sums from the public purse. The result is entrenched poverty and instability, which can lead to failing states and war.

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Article
29 February 2004

[PDF] full report: "Time For Transparency - Coming clean on oil, mining and gas revenues"

Author: Global Witness

[refers to ChevronTexaco, ExxonMobil, Elf (now Total), Total, Likouala S.A., Agip (part of ENI), BP, Occidental Petroleum, Shell, Norsk Hydro, ConocoPhillips, SNPC, Mercator, Riggs Bank]

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