Iraq disclosed it earned $41bn from oil and gas exports in 2009, in a move designed to increase transparency in its energy sector. But critics said Monday’s disclosures did not go far enough, and urged the Iraqi oil ministry to fulfil a longstanding promise to publish its contracts with foreign oil companies.
Iraq revealed the details of its export earnings under the extractive industries transparency initiative, or EITI, a global public-private coalition that pushes for fuller disclosure of transactions between companies and governments.
To be compliant with the EITI, a country has to reconcile what companies say they pay in taxes, royalties and signature bonuses with what governments say they have received.
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