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Caracas, Monday April 28 , 2008  
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Pdvsa is not transparent according to report

All of oil and gas Latin American companies, except for Venezuela, are models of transparency in the information released on their revenues, according to the report Promoting Revenue Transparency, prepared by Transparency International.

"The message from Latin America is a positive one. Its companies lead transparency," Juanita Olaya, the author of the report, told Efe on Monday during the introduction in London.

Olaya said that the governments in the region do not restrict the information that companies may release, but said that Venezuela is the exception to the rule.

According to the amount of information published by 42 companies from different countries throughout the world, particularly in terms of the payments made to the state for right of use, the report groups them in three categories: high, middle and low.

Only one third of the companies are within the "High" category, including Brazilian Petrobrás and Mexican Pemex, in addition to some multinationals, such as British Gas, Shell and StatoilHydro.

On the contrary, state-run oil holding Petróleos de Venezuela (Pdvsa) is in the "Low" category.

"In the case of Pdvsa there is still a long way to go. It would have to improve the information published on payment of rights," said Olaya.



 
 
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