BUSINESS - Watchdog decries corruption in oil, gas sectors

Corporate secrecy is endemic in Burma’s oil and gas sector, according to a new survey by London-based NGO Global Witness. The group surveyed all of the 47 companies awarded oil and gas blocks in the once-closed country over the past year, inquiring about their “ultimate beneficial owners”. According to Global Witness, only 11 of the companies responded, and three offered only partial disclosure. The group recommended that forthcoming EITI procedures require ownership disclosure, and urged the government to create laws to improve transparency.