Let's ask the Pope to Canonize the CEO! Petrobras is a "transparency reference" in the oil sector
By La Société - April 30, 08 at 16:46
Petrobras was rated as one of the oil and gas companies with the highest levels of revenue transparency, according to an International Transparency report published last Monday (04/28). Survey results are divided into two groups: national companies operating at home and international companies and national companies operating outside of their home territories. Only Petrobras and Norwegian outfit StatoilHydro are listed at the highest level of these two groups. According to the report, the Company is a “transparency reference” among the sector’s national companies.
The study assessed 42 companies and highlighted three areas of performance: payments to the governments in the countries where the companies operate, operations, and anticorruption programs. The survey was based on public information and took current policies, management systems, and performance in areas related to revenue transparency in exploration and production operations into account.
In Petrobras’ case, the Company’s webpage, its 2006 Social and Environmental Balance, the 2006 Annual Report, and the Quarterly Information sent to the Securities and Exchange Commission (SEC) in the first quarter of 2007 were analyzed.
Another highlight of the report is company participation in the Extractive Industries Transparency Initiative (EITI), which includes Petrobras. Of the 42 companies the report included, only 17 support the initiative.
Transparency International is a global civil society organization leading the fight against corruption.
Companies with high performance in transparency, according to the 2008 Report on Revenue Transparency of Oil and Gas Companies:
National oil companies operating at home: Petrobras, China National Offshore Oil Corporation (CNOOC), Oil and Natural Gas Corporation Ltd. (ONGC), Petróleos Mexicanos (Pemex), PetroChina, Sinopec, StatoilHydro.
International companies and national companies operating outside of their home territories: Petrobras, BG Group, BHP Billiton, Nexen, Petro-Canada, Shell, StatoilHydro, Talisman Energy |
