{"id":81288,"date":"2014-03-24T10:51:32","date_gmt":"2014-03-24T14:51:32","guid":{"rendered":"https:\/\/one.org\/us\/?post_type=one_press&p=81288"},"modified":"2014-03-24T10:51:32","modified_gmt":"2014-03-24T14:51:32","slug":"tullow-oil-sets-new-standard-for-transparency","status":"publish","type":"one_press","link":"https:\/\/www.one.org\/us\/press\/tullow-oil-sets-new-standard-for-transparency\/","title":{"rendered":"Tullow Oil Sets New Standard for Transparency"},"content":{"rendered":"

LONDON <\/b>\u2013 Tullow Oil PLC has today set a new standard for transparent disclosure of payments to governments, becoming the world\u2019s first extractive company to publish details of payments, on a project-by-project basis, in all countries where they are made.<\/p>\n

This voluntary commitment to transparency stands in stark contrast to the actions of some big oil companies in the American Petroleum Institute (API), which has lobbied and litigated in a misguided attempt to weaken and delay implementation of a US law mandating oil, gas and mining companies to publish what they pay governments.<\/p>\n

Welcoming Tullow Oil\u2019s publication of project-by-project payments in its annual report, Alan Hudson, Policy Director for Transparency at the ONE Campaign, said:<\/p>\n

\u201cTullow Oil is leading the way, with a clear commitment to transparency that will empower citizens and better enable them to hold their governments to account for the use of natural resource wealth.<\/p>\n

They have not waited until they are compelled by law to publish what they pay governments, but have taken responsible action that will benefit some of the poorest people in the world as well as the company and its investors.<\/p>\n

Tullow\u2019s desire to publish project level payments to governments proves that there is no practical or commercial reason for extractives companies not to be forthcoming about the value of their global transactions.<\/p>\n

It also demonstrates that Tullow \u2013 along with an increasing number of companies \u2013 recognise that publishing information about their contribution to government revenues can help to make them more welcome in the communities where they operate.<\/p>\n

This should be a wake-up call for other major oil companies to choose to be part of the solution, rather than risk being complicit to the corruption possible when payments remain secret.\u201d<\/p><\/blockquote>\n

ONE, along with our partners in the Publish What You Pay coalition, has been campaigning for transparency of payments made to governments in the extractives sector, so citizens can know what their oil, gas and minerals were sold for and follow the money to ensure that their governments use those revenues responsibly.<\/p>\n

ONE is calling for:<\/p>\n