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Article

20 Nov 2008

Author:
Global Witness

[PDF] StatoilHydro's Libyan "corruption" scandal shows need for oil industry disclosure laws

A scandal over questionable oil industry payments in Libya, brought to light by...StatoilHydro, underlines the need for tougher regulations to deter companies from making undisclosed payments in return for access to oil rights...Opacity and secrecy have provided a cover for the deep corruption that brings poverty, bad government and human suffering to many oil-producing countries, so StatoilHydro has set a welcome example of openness in its handling of this scandal...[also refers to Repsol YPF, Total, Sonangol, Somoil, Norsk Hydro]