Iraq fights for transparency bid
Overcoming resistance from companies favoring secrecy, Iraq has published the first report on its road to international transparency certification.
Deputy Prime Minister for Energy Hussain al-Shahristani (L) and Abdul Karim Luaibi (R) attend a ceremony marking the publication of Iraq's first Extractive Industries Transparency Initiative (EITI) report. (STAFF/Iraq Oil Report)
BAGHDAD - Iraq is trying to enter a rarefied club of countries that forswear the secrecy of oil revenues and require oil companies to do the same – a step that would strike a blow against corruption and mark a victory for the global transparency movement.
As one of 21 "candidate countries," Iraq is seeking certification from the Extractive Industries Transparency Initiative (EITI), a 10-year-old Oslo-based organization that aims to increase accountability in the oil, gas, and mining sectors by creating international standards of accounting and disclosure for governments and companies.
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