Exxon Mobil failed to share information about its U.S. taxes with an international watchdog group formed to prevent corruption in energy and mineral-rich countries with impoverished populations. Exxon has a representative on the board of the group, the Extractive Industries Transparency Initiative (EITI) and has endorsed its objectives. (Reuters, December 2, 2015, by Patrick Rucker)
EITI criticized the company for jeopardizing the campaign to establish transparency in the world’s energy sector. Thirty companies besides Exxon defaulted on the request for U.S. tax information. An Exxon spokesman said the company was waiting to disclose until the SEC meets to discuss disclosures. (Reuters, December 7, 2015, by Patrick Rucker)