Why the Extractive Industries Transparency Initiative needs to go further
The international Extractive Industries Transparency Initiative (EITI) was set up to give citizens of resource-rich countries information about how much their governments were earning from natural resources in order to prevent corruption.
It is a voluntary initiative, focusing on oil, gas and mining revenues. Azerbaijan was the first country to be assessed as EITI-compliant, yet “Azerbaijan Anonymous”, a new report by Global Witness, shows that private companies are benefitting from billions of dollars’ worth of business handling Azerbaijani oil even though it is not clear why they are involved or who owns them.
As information on ownership is not currently available from EITI reports, Global Witness has pieced together, over the course of a year, the links between many of these deals by examining company records and annual accounts from various countries’ corporate registries.
Statement by Azerbaijan’s state oil company Socar 13 December 2013
Download the full report: Azerbaijan Anonymous
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