No transparency provisions in draft oil law
After years in the drafting process, a copy of Cambodia’s much-anticipated draft petroleum law obtained this week shows that there are still no provisions governing the public disclosure of payments made to the government by gas and oil companies. Dated February 2010, the draft could still see changes, though several sources interviewed this week said that the copy appeared to be the latest version of the proposed law. Advocacy groups have criticized the apparent lack of legislation on financial transparency in the draft and said that the law would do little to deter public skepticism when payments from the sector are not publicly declared. According to the draft law, companies must report all oil discoveries, work programs and financial information, including “proper accounting”, to the Cambodian National Petroleum Authority (CNPA), the government’s regulatory body. It also says the CNPA is in charge of collecting all fees from oil and gas companies…
