Para-economic Expenditures by Oil Companies

The increasingly vocal debate about corporate accountability – whether in terms of financial probity, transparency or social responsibility – has recently crystallised in a number of national and international legal instruments designed to reduce or eliminate unacceptable business practices, broadly defined as “those that are not allowed at home, and hence should not be practiced away from home”. This note explores one aspect of this subject, namely those ‘murky payments’ that are not explicitly required by law, yet seem “necessary to get the job done”. This paper focuses on defining such payments, and develops and explores a proposal for their exposure and accounting.

By: Juan Carlos Boué

Latest Tweets from @OxfordEnergy

  • B Fattouh on Saudi oil consumption: High growth rates of consumption & crude burn seen in past decades are behind us https://t.co/UhB2IpQSpt

    May 25th

  • 0IES' @thierry_bros to speak at the Africa Energy Forum #AEF17 on 7 June in Copenhagen https://t.co/YvSXBH3Sn6

    May 24th

  • Tough market conditions for new final investment decision in FLNG. @thierry_bros quoted in @LesEchos https://t.co/vPAGy9qYKW

    May 24th

Sign up for our Newsletter

Register your email address here and we will send you notification of new publications, comment, articles etc. automatically.