“We are greatly disappointed that the oil industry is trying to use the courts to bully the SEC and push for secrecy in their payments to governments.” said Gary. “We call on companies, such as BP, Exxon, Chevron and Shell, who are hiding behind industry associations to do their dirty work while espousing transparency rhetoric, to disassociate themselves from the lawsuit.”
Targeted News Service
WASHINGTON, Oct. 11 — Oxfam America issued the following news release:
International development and relief organization Oxfam America expressed extreme disappointment that the oil industry has decided to try to use the courts to keep investors and the public in the dark regarding payments to resource-rich countries. The American Petroleum Institute, a lobby group representing companies such as BP, Exxon, Chevron and Shell, filed a lawsuit against the US Securities and Exchange Commission (SEC) yesterday to overturn a US law that will provide valuable information to investors and help prevent corrupt government officials from squandering oil and mineral wealth in resource-rich countries.
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