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New Global Witness Report: Major Corruption Risks in Liberia's Oil Sector
September 26th, 2011
International oil companies such as the U.S. giant Chevron are beginning exploration off of Liberia’s coastline. However, this new research by Global Witness and Liberian Oil and Gas Initiative (LOGI)1 suggests that while Liberia has come a long way from the devastating set of resource-financed civil wars that claimed the lives of 250,000 people between 1989 and 2003, serious governance problems persist, and the warning signs for the emerging oil sector are stark. Curse or Cure? How oil can boost or break Liberia’s post-war recovery shows that even before a discovery is made, there are deep-seated problems in Liberia’s oil sector: government officials and at least one company...
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Immediate Reform Needed If Liberians Are To Profit From Potential Oil Finds, Report Shows
September 26th, 2011
LONDON/MONROVIA – Far-reaching reforms of Liberia’s oil sector are urgently needed if its population is to benefit from future oil discoveries, says a report released today by Global Witness (1) and the Liberian Oil and Gas Initiative (LOGI) (2). As the country heads to the polls in October, and with major oil companies such as US giant Chevron trying to find oil in Liberia, these reforms must be a priority for any new government.
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Memo to the Extractive Industries: Tell Us What You're Doing in Secrecy Jurisdictions
September 20th, 2011
As The Guardian reports this morning:
More than a third of the subsidiaries owned by major energy and mining companies including Shell, BP and Glencore are based in “secrecy jurisdictions” where company accounts are not publicly available, according to a report. The study by Publish What You Pay Norway, which campaigns for transparent accounting among oil, gas and mining giants, claims that populations in resource-rich countries are losing out because they are unable to extract financial information from businesses operating on their soil or off their seaboards. “Extractive industry giants’ corporate ownership structures, their use of secrecy jurisdictions and the...
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UNDP-Commissioned Report from Global Financial Integrity, “Illicit Financial Flows from the Least Developed Countries: 1990-2008,” Now Available
May 12th, 2011
ISTANBUL, Turkey – A United Nations Development Program (UNDP) commissioned report from Global Financial Integrity (GFI) on illicit financial flows from Least Developed Countries (LDCs) was presented for discussion yesterday at the United Nations IV Conference on Least Developed Countries hosted by the Republic of Turkey.
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