EU rule on government payments: implications for oil & gas industry

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EU rule on government payments: implications...
 © CyprusMail 2017
An estimated 3.5 billion people live in countries endowed with oil, gas and mineral reserves. Despite the fact that the citizens of these countries are the legal owners of the natural resources, in many cases governments have hindered the efficient exploitation of such resources resulting in unequal wealth distribution, poverty and lack of sustainable economic development. Evidence suggests that this occurs mainly in under-developed countries, with high level corruption and lack of transparency considered among the main factors culpable.

There are a number of examples of nations with a...


EU rule on government payments: implications for oil & gas industry


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