Home / Knowledge / News / ExxonMobil welcomes transparency initiative
ExxonMobil welcomes transparency initiative
14
May '08
ExxonMobil today congratulated the Extractive Industries Transparency Initiative on the launch of its Business Implementation Guide, an important step in the progress of transparency and good governance in natural resource development.

“Revenue transparency and accountability in our industry's relationships with host governments are critically important,” said Rich Kruger, president of ExxonMobil Production Company. “ExxonMobil supports transparency and is committed to honest and ethical behavior.”

Kruger commented at an industry event to launch the guide, attended by Dr. Peter Eigen, founder of Transparency International and chairman of the Extractive Industries Transparency Initiative, a global coalition for transparency in the extractive industries.

Business and non-governmental organizations and a coalition of companies, including ExxonMobil, developed the guide under the leadership of the EITI Secretariat.

Dr. Eigen invited Rex W. Tillerson, chairman and chief executive of Exxon Mobil Corporation, to co-author the guide's forward in recognition of the significant contributions by ExxonMobil to EITI since it was announced by former British Prime Minister Tony Blair in September 2002.

Kruger said the guide will assist international companies in conveying expectations and appropriate roles to affiliates around the world relating to the reporting of payments to governments for a country's natural resources.

“The primary purpose of EITI is to provide more information on government revenues to help ensure they're used to benefit citizens of the country,” said Kruger. “But just as important is the culture of accountability that is created when governments, companies, non-governmental organizations, international financial institutions and investor groups work together to improve disclosure and transparency.”

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search