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Oil industry lobbying regarding section 1504 of Dodd-Frank Wall Street Reform Act (USA): Concerns, company responses

In February 2012 several NGOs raised concerns about oil industry lobbying to change the wording of Section 1504 of the Dodd-Frank Act in the USA.  Section 1504 requires extractive companies to disclose their tax, royalty and other payments to governments. 

Business & Human Rights Resource Centre invited the American Petroleum Institute and the companies mentioned in the following items to respond (see below for responses / non-responses, and then a rejoinder by Revenue Watch):

- “The transparent hypocrisy of big oil,” Oxfam America, 9 Feb 2012

- “Oil industry must stop supporting secrecy,” Revenue Watch, 13 Feb 2012

-  Petition: “Tell big oil companies – it’s time to come clean,” Oxfam America

-  Statement by Tutu Alicante, EG Justice re regulations to enact revenue transparency provisions of US Dodd-Frank Act [DOC], 10 Feb 2010 

Company responses / non-responses

American Petroleum Institute response (a blog post on their position)

BP response [DOC]

Chevron did not respond.

ConocoPhillips response [PDF]

ExxonMobil response [DOC].  ExxonMobil also pointed to the following two articles: "SEC Oil Rule Jeopardizes US Competitiveness" and "Dodd-Frank Handicaps US Oil Companies, Favors, Russia China And Chavez"

Marathon Oil said that its position is aligned with that of the American Petroleum Institute

Occidental said that it supports the position of the American Petroleum Institute

Shell response [DOC]

Statoil response [DOC]

Rejoinder

Revenue Watch issued a follow-up statement on 28 Feb 2012