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Promoting revenue transparency

We?support transparency in the flow of revenue from oil and gas activities to?governments. This helps citizens hold public authorities to account for the way?they use funds received through taxes and other agreements

We are a founding member of the (EITI), which supports the disclosure of payments made to and received by governments in relation to oil, gas and mining activity. As part of the EITI, we work with governments, non-governmental organizations and international agencies to improve the transparency of payments to governments. We supported EITI implementation in a number of countries where we operate, including Iraq and Trinidad & Tobago, in 2018.

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In addition, we disclose information on payments to governments for our upstream activities on a country-by-country and project basis under national reporting regulations, such as those in effect in the UK.

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Contract transparency

BP supports transparency of the contracts under which oil and gas development rights are granted. This can strengthen understanding of our industry and government accountability by allowing citizens and host communities to assess the terms on which oil and gas are produced and revenues shared. We believe that in order to manage commercial risks, the process should be led by host governments.

BP supports contract transparency and recognizes that it can help to promote accountability and transparency. Our preference is for disclosure through a process negotiated by all parties in the framework of the local EITI.Dominic Emery,vice president group strategic planning, BP
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