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Oil companies criticised for lack of transparency
A majority of leading oil and gas companies are far from transparent when it comes to the payments they make to resource-rich countries, leaving the door open to corruption and hampering efforts to fight poverty, according to a report published this week by Transparency International (TI). “The tragic paradox, that many resource-rich countries remain poor, stems from a lack of data on oil and gas revenues and how they are managed. Companies must do more to increase transparency,” said Huguette Labelle, Chair of TI. The 2008 Report on Revenue Transparency of Oil and Gas Companies evaluates ... |
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New 4,000MW power plant to boost Indian electricity capacity
The Asian Development Bank (ADB) has executed a loan agreement for a US$450 million loan to Coastal Gujarat Power Limited (CGPL), a wholly owned subsidiary of the Tata Power Company Limited which is the largest private power utility in India. CGPL will build, own and operate the 4,000-megawatt Mundra Ultra Mega Power Project in the western state of Gujarat. This is expected to be the first in a series of large energy-efficient power plants to help ease power shortages across the country.
“The project will not only provide a significant volume of additional electricity to address shortages, ... |
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