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Secret oil deals: New rules to force CNOOC, Total, Tullow to reveal money paid [Uganda]

Author: Haggai Matsiko, Independent [Uganda], Published on: 8 September 2012

The U.S’s Securities and Exchange Commission has finally issued...new rules that outline how oil, gas and mining companies must comply with Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act...The new rules require all companies listed on American stock exchanges and dealing in oil, gas and minerals report...all their payments to host governments...Total and China...[National] Offshore Oil Company (CNOOC) are listed on US stock exchanges meaning that Ugandans will now have a window into how much the government gets from these oil companies...Although Uganda should have earned trillions of shillings...considering several oil companies have been at work since the 1990s, it is only the tightly knit network of government officials and their oil partners that know how much the country has earned so far...[Government] security operatives have closed civil society meetings with the local people, arrested journalists and civil society activists and interrogated those who speak to anyone about oil... [also refers to Tullow, Heritage Oil, Saracen]

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Related companies: CNOOC (China National Offshore Oil Corporation) Heritage Oil Saracen Uganda Total Tullow Oil