Anti-corruption group TI (Transparency International) has rated more than 40 energy companies on the transparency of their dealings, handing a low grade to ExxonMobil but praising Shell and Petrobras.
Anglo-Dutch Royal Dutch Shell PLC, Brazil’s Petrobras, Norway’s StatoilHydro ASA and Petro-Canada were among the best performing companies. U.S.-based ExxonMobil Corp., Russia’s OAO Lukoil and the China National Offshore Oil Corporation — or CNOOC — fell into the lowest tier.
The report said that if 10 % of the estimated US$866 billion generated worldwide in oil revenues in 2006 was set aside, it would have been enough to cover the total cost of meeting the United Nations’ Millennium Development Goals. The cost of meeting the set of development standards on education, health, literacy and poverty was estimated at US$73 billion in 2006, the report said. Read article.
