Transparency in Oil Dealings in Africa

Re “Africa Drowns in a Pool of Oil,” Commentary, July 1:

ExxonMobil opposes corruption in any form and is firmly committed to honest and ethical behavior. We have been constructively involved in the dialogue regarding the United Kingdom’s Extractive Industries Transparency Initiative since its inception. ExxonMobil supports transparency that applies universally to all companies, allows for protection of proprietary information and does not violate the laws of host countries or contractual obligations.

Agreements with sovereign host governments typically limit disclosure of financial information. Governments in developed countries, international financial institutions and petroleum companies consistently emphasize to host governments the importance of respecting the sanctity of contracts as a fundamental principle of good governance. Companies must practice what they preach.

The EITI team in the UK is to be commended for the thought and hard work that its members have put into the initiative. However, as many participants in the initiative have pointed out, there are many uncertainties and practical issues to be resolved regarding reporting procedures and guidelines in order to make such reporting accurate and meaningful. We plan to continue our engagement in the process and to advance the dialogue.

Andrew Swiger

Chairman and Production

Director, ExxonMobil

International Ltd., London