"Energy Companies Fight Rule Requiring Disclosure of Foreign Payments"

"Oil, gas and mining industries are battling a late addition to the 2010 financial reform law that requires energy companies to disclose their payments to foreign governments."

"Much of the fight has been played behind the scenes at the Securities and Exchange Commission, which is expected to release a final rule this year requiring disclosure of foreign payments. But calls from industry and human rights groups are going public as the final rule's release looms.

Human rights groups in the Publish What You Pay Coalition have been fighting for years to pass the measure they say will curb corruption in resource-rich impoverished countries.

But U.S. energy companies say the rule would put them at a competitive disadvantage to state-owned companies, such as Russian energy giant OAO Gazprom."

Amanda Peterka reports for Greenwire February 2, 2012.

Source: Greenwire, 02/03/2012