Trafigura to disclose payments to governments from oil trade

Swiss-based trader Trafigura has announced its support for the Extractive Industries Transparency Initiative (EITI), as part of a new policy on disclosure of payments to governments. The 18 November announcement makes Trafigura the first commodity trader to join the 90 oil, gas and mining companies already supporting the EITI. In a further step, it has published a policy on payments to governments, drawn up in consultation with the EITI International Secretariat. The policy commits the company to disclosing Trafigura’s payments to governments in EITI compliant and candidate countries beginning in 2015.