tullow oil sets new industry standards for transparent reporting
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Tullow oil has taken the initiative to embrace transparent reporting throughout their international operations. This move has potentially set an international standard for operations going forward, and has important implications for the Oil and Gas Industry moving forward.TRANSCRIPT
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Tullow Oil Steps Up Transparency in Reporting, Setting New Benchmark for International Oil and Gas
Industry
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Tullow Oil First to Embrace Project by Project Reporting
Style
According to Tullow Oil:“This information is being
released as part of our commitment to ensure that
there is transparency around our payments to
governments in the countries in which we work.”
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The Need for Transparent Reporting in the Oil and Gas
Industry
Anti-corruption activists demand more
transparency and detailed reporting of oil and gas industry profits
and procedures
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US Legislation Requiring Transparent Reporting for Oil and Gas Industry
Project by project reporting may soon be enforced by current US
laws like the Dodd-Frank Financial Reform Act of
2010
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US Stepping Up Prosecution of Corruption in the Oil and Gas
IndustryTullow Oil cites one of the many reason they’re embracing more stringent reporting is the recent
suspension of their drilling due to an investigation by US
authorities into the alleged actions of their partner, Houston based Hyperdynamics, as part of a probe into potential breaches
of anti-corruption law.
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American Petroleum Industry Urges Aggregate
ReportingThe API is urging law-
makers and the SEC to require reporting that
takes measures to protect US based Oil and Gas operators’
confidential, internal operations and
procedures
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“Global Witness” Counters API’s Position on Transparent Reporting
A Senior Campaigner from Global Witness
Argues:
“Instead of trying to weaken transparency rules designed to combat corruption and poverty in resource-dependent countries, the oil majors should follow Tullow’s lead
and embrace the fact that project-by-project reporting is the new global
standard.”
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Sources for this SlideShare
“Tullow steps up transparency in reporting”
by Tom Burgis
http://www.ft.com/intl/cms/s/0/67ed17c8-b12f-11e3-9548-00144feab7de.html#axzz2wo1yU1xO
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The Importance of Mobile Reporting in the Oil and Gas
Industry
The trend is rapidly shifting towards in-depth reporting in order to remain compliant with US and International
Law.
Check out our previous SlideShare presentations to see the many other
benefits of mobile app reporting; effecting your bottom-line and
operational efficiency.
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Houston TX, USA +1 832 691 7277 | San Francisco CA, USA +1 415 613 6513 | Perth WA, Australia +61 8
6555 8072
www.seeforge.com
Call Us Now!End the Paper and Excel
Nightmare
Houston TX, USA +1 832 691 7277 | San Francisco CA, USA +1 415 613 6513 | Perth WA, Australia +61 8 6555 8072
www.seeforge.com