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EITI — Extracting transparency

The Extractive Industries Transparency Initiative is determined to stamp out embezzlement, but has its work cut out. When it launched in 2002 the Extractive Industries Transparency Initiative aimed high. A coalition of governments, companies, civil society groups and investors, it…

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StatoilHydro head quits on probe

The head of newly-created StatoilHydro has resigned amid a probe into possible corruption over contracts in Libya. Eivind Reiten, who is also the head of Norsk Hydro, said he had to step down to avoid a conflict of interest. The…

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