GLOBAL: Revealed: Secret world of global oil and mining giants
by Nick Mathiason, The Bureau of Investigative Journalism
September 19th, 2011
Ten of the worlds most powerful oil, gas and mining companies own a staggering 6,038 subsidiaries with over a third located in secrecy jurisdictions.
As a growing number of international think-tanks and campaign groups demand action to prevent an estimated $1 trillion flooding out of developing, but resource-rich countries, attention is focusing on states like Delaware in the US and the Netherlands.
Defined as secrecy jurisdictions, these are places where there are few requirements for companies to publish accounts and beneficial ownership details among a host of other key disclosures, which as a result can be kept hidden from public view.
Trawling annual reports and stock exchange filings of companies such as BP, Glencore and ExxonMobil, a five month investigation by Publish What You Pay Norway (PWYPN) found that:
CorpWatch*:*GLOBAL: Revealed: Secret world of global oil and mining giants
by Nick Mathiason, The Bureau of Investigative Journalism
September 19th, 2011
Ten of the worlds most powerful oil, gas and mining companies own a staggering 6,038 subsidiaries with over a third located in secrecy jurisdictions.
As a growing number of international think-tanks and campaign groups demand action to prevent an estimated $1 trillion flooding out of developing, but resource-rich countries, attention is focusing on states like Delaware in the US and the Netherlands.
Defined as secrecy jurisdictions, these are places where there are few requirements for companies to publish accounts and beneficial ownership details among a host of other key disclosures, which as a result can be kept hidden from public view.
Trawling annual reports and stock exchange filings of companies such as BP, Glencore and ExxonMobil, a five month investigation by Publish What You Pay Norway (PWYPN) found that:
CorpWatch*:*GLOBAL: Revealed: Secret world of global oil and mining giants