'NNPC HAS POOREST TRANSPARENCY'

NIGERIAN NATIONAL PETROLEUM CORPORATION, NNPC, has the poorest transparency record of 44 national and international energy companies evaluated in a report published by International Watchdogs this week.

Transparency International, TI, and Revenue Watch Institute, RWI, rated a list of oil and gas companies, which represent 60 per cent of global output, on how they reported revenues and disclosed information on anti-corruption programmes.

The report, released on Tuesday and based on research carried out in 2010, showed that publicly listed companies score better than non-listed firms, while international oil companies fare better than national oil companies.

NNPC was the only company to score zero on organisational information disclosure, which included the provision of details on deals agreed with governments and partners on energy projects.