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Article

12 Jun 2013

Author:
Oxfam America

Oxfam welcomes European Parliament vote approving landmark oil and mining financial disclosure law

International relief and development organization Oxfam America applauded the European Parliament for voting...to give its final approval to a new mandatory payment disclosure requirement for the oil, gas and mining industries that will complement a law already in force in the US... “This is a huge victory for citizens living in resource rich countries as well as investors who have a right know this information," [said Ian Gary, senior policy manager of Oxfam America’s oil, gas and mining programme]...“While the world is moving toward greater transparency, the oil industry seems determined to keep their heads in the sand, and fight against it as long as possible,” continued Gary...“Mandatory disclosures of oil, gas and mining payments to governments are now a global fact and industry giants such as Exxon, Chevron, BP and Shell need to drop their misguided support for [the on-going lawsuit against US rules],” said Gary. [Also refers to Statoil]