Exxon, Chevron conceal payments to some governments -watchdog – Reuters

Exxon, Chevron conceal payments to some governments -watchdog – Reuters

WASHINGTON, Sept 22 (Reuters) - U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) have failed to meet a core transparency standard set by the Extractive Industries Transparency Initiative, a global anti-corruption body on which the companies have board seats, EITI said on Wednesday.

Exxon and Chevron have declined to publicly disclose taxes and other payments they have made to governments in the countries where they operate that are not EITI members, the group said in a spreadsheet detailing member company adherence to its standards.

Norway-based EITI, founded two decades ago, has about 55 country members. It implements voluntary global standards to promote open and accountable management of oil, gas and mineral resources to prevent corruption in all resource-rich countries.