Financial Times FT.com

Oil

Oil majors rebuked for lack of openness

By Michael Peel in London and Hugh Williamson in Berlin

Published: April 27 2008 18:52 | Last updated: April 27 2008 18:52

Most leading oil multinationals fall well short of best practice on revealing financial data and combating corruption, a survey by Transparency International, the anti-graft group, claims.

The research says western companies such as ExxonMobil, ChevronTexaco and BP rank as middling or poor performers on voluntarily disclosing information about their operations – alongside China National Offshore Oil Corp, Russia’s Lukoil and Petronas of Malaysia.

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