Asian state oil cos must do more on corruption-TI
MADRID, July 3 (Reuters) - Asian state-owned oil companies need to improve their anti-corruption efforts when investing in oil projects overseas, the chairwoman of anti-graft group Transparency International (TI) said on Thursday.
"Outside of their borders, somehow they seem to be at a loss .. for knowing just how to behave when it comes to transparency, to social responsibility, to having a no-bribes policy," Huguette Labelle told the World Petroleum Congress.
When asked which companies she was referring to, Labelle said it was those TI highlighted in a report on the oil industry earlier this year.
In April, the anti-corruption watchdog criticised state-controlled China National Petroleum Corp (CNPC), China National Offshore Oil Corporation (CNOOC), India's Oil and Natural Gas Corp (ONGC) (ONGC.BO) and Malaysia's Petronas [PETR.UL] for not disclosing information on anti-corruption efforts.
Labelle said where an oil company's home base requires them not to act in a corrupt manner overseas, companies generally did not engage in corruption but where there was not clear guidance from the home state, the performance could be more patchy.
She cited Canadian oil companies as examples where tight anti-corruption rules at home helped ensure they did not engage in corruption overseas. The U.S. also has tight laws on foreign corruption.
Also, state-owned oil companies are generally not subject to as much scrutiny by non-governmental groups such as Greenpeace.
China's willingness to offer generous financial packages to secure resources for its booming economy, without requiring commitments on good governance, has led to fears among some development campaigners that its growing presence may encourage corruption.
(Editing by Jason Neely)
