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Article

20 Nov 2014

Author:
Chineme Okafor, This Day (Nigeria)

Nigeria: Trafigura to disclose payments to EITI

'Top oil trader Trafigura to disclose payments to NNPC', 20 Nov 2014: Trafigura Beheer...has announced its commitment to opening up on its payment to Extractive Industries Transparency Initiative (EITI)-compliant and candidate countries like Nigeria, starting from 2015...Trafigura...formally declared its support for the EITI, thus becoming the first commodity trading company to join the 90 oil, gas and mining companies already supporting the EITI...EITI called on all commodity traders to join in the work towards comprehensive and practical reporting guidelines that would bring more transparency and accountability to the oil and gas sector... Trafigura’s...Chief Executive Officer...Jeremy Weir...said: “This policy reflects Trafigura’s commitment to transparency and accountability, as core components of responsible trade and better-governed natural resource sectors.”...[also refers to Vitol]