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US may lead surge (of transparency) in Iraq

Author: John West, Critical Resource, Published on: 1 September 2010

…Section 1504 of the Dodd–Frank Wall Street Reform and Consumer Protection Act, signed by President Obama on July 21, requires companies listed by the Securities and Exchange Commission (SEC) to report on almost every payment made to foreign governments to develop natural resources…There is still wide uncertainty about the scope of interpretation of the WSRA…In Iraq, that could represent unprecedented reporting at oilfield level potentially of up to two-thirds of foreign company involvement…[Refers to BP, CNPC, CNOOC, Eni, ExxonMobil, Gazprom, JapEx, KoGas, Lukoil, Petronas, Statoil, TPAO, Total, Shell, Sonangol]

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Related companies: BP China National Petroleum Corporation (CNPC) CNOOC (China National Offshore Oil Corporation) Eni Equinor (formerly Statoil) ExxonMobil Gazprom JAPEX KOGAS (Korea Gas Corporation) Lukoil Petronas Shell Sonangol Total Turkish Petroleum (TPAO)