April 18, 2018 / 8:50 AM / 3 months ago

Commodities trader Gunvor joins transparency group EITI

LONDON, April 18 (Reuters) -

* Swiss-based Gunvor Group said on Wednesday that it had joined the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in managing revenues from oil, gas and mineral extraction

* Gunvor becomes the second trading house to join EITI after Trafigura joined in 2014

* As part of this move, Gunvor will disclose information about its first purchases from national oil companies for crude oil and petroleum products, including gas, among other relevant tax and license information

* Formed in 2003, EITI counts 51 implementing countries. Gunvor will be among about 60 oil, gas and mining companies that also part of the transparency initiative

* The United States withdrew as an implementing country last year after Congress killed the so-called resource extraction rule, which required companies such as Exxon Mobil Corp to disclose taxes and other fees paid to foreign governments (Reporting by Julia Payne, editing by Louise Heavens)

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