ChevronTexaco supports Nigerian transparency initiative
Posted: 7 November 2003
ChevronTexaco announced its support for the commitment by Nigerian
President Olusegon Obasanjo to publish a number of key government
financial indicators, including revenues received from the oil and
gas sector.
With this commitment, Nigeria becomes the first nation to officially
participate in the "Extractive Industries Transparency Initiative,"
which UK Prime Minister Tony Blair launched, with ChevronTexaco's
support, in June 2003.
"As a company with a long history of operations in Nigeria,
we are fully supportive of the President's bold move to tackle such
a difficult issue as transparency and good governance," said
ChevronTexaco Chairman Dave O'Reilly. "And more importantly,
as a partner to the government of Nigeria and its people, we are
pleased to pledge our full support and participation in this process.
This announcement is fully in line with what we have long believed
and called for — that efforts to address the management of
oil revenues be led by affected governments, not imposed on them
by others. We are pleased that President Obasanjo and his administration
have called for a process to examine what happens to his country's
revenues and we stand by to support this effort."
About ChevronTexaco
Based in San Ramon, Calif., ChevronTexaco is the second-largest
U.S.-based energy company and the fifth largest in the world, based
on market capitalization.
More than 53,000 ChevronTexaco employees work in approximately
180 countries around the world, producing and transporting crude
oil and natural gas, and marketing and distributing fuels and other
energy products.
For more information see http://www.chevrontexaco.com.
Posted by Richard Price,
Editor Pipeline Magazine
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