This Day
2 March 2011
The Nigerian National Petroleum Corporation (NNPC) is one of the eight most corrupt national oil and gas companies in the world, Transparency International (TI), has said.
The TI in its 2011 report on global oil and gas companies also named the Russian-owned GAZPROM, Ango-la's SONANGOL, State Oil Company of Azerbaijan (SOCAR), Algerian Société Nationale pour la Recherche, la Production, le Transport, la Transformation, et la Commercialisation des Hydro-carbures s.p.a (SONATRACH), Société Nationale des Pétroles du Congo (SNPC), and National Iranian Oil Company (NIOC) and GEPetrol as the seven other state-owned oil and gas companies that are swimming in corruption.
The 2011 report entitled: "Promoting Revenue Transparency" was released yesterday and obtained by THISDAY. It is based on research conducted in 2010 in global oil companies. It is an expanded version of what was published in 2008 and rates 44 companies on the public availability of information on their anti-corruption programmes and how they report their financial results in all the countries where they operate.
According to the report, the NNPC made a poor showing in all the indices with a performance rating of 0, 0 and 8 per cent in organisational disclosure, reporting on anti-corruption programmes in its activities, and country level disclosure on domestic operations respectively.
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