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Article

24 Mar 2014

Author:
Global Witness

Tullow's tax disclosures torpedo Big Oil's campaign for secrecy

...UK company Tullow Oil...[has] became the world’s first extractive firm to publish details of its revenue payments to governments broken down by each project the company operates worldwide. The disclosures...in Tullow’s annual report, show the taxes, royalties, licence fees and other public revenues generated by the company’s operations across 21 countries – 14 of which are in sub-Saharan Africa – for the years 2012 and 2013...These detailed disclosures will enable citizens in economically poor but resource-rich regions to monitor public revenues worth...billions of dollars and hold governments to account for how the money is used...“Tullow’s...disclosure blows a hole in the argument made by some oil companies that project-level reporting will impose a heavy burden on business,” said Dominic Eagleton, a senior campaigner with Global Witness...“...oil majors should follow Tullow’s lead and embrace the fact that project-by-project reporting is now the new global standard,” Eagleton added [refers to ExxonMobil, Royal Dutch Shell, Chevron and BP]