Major oil companies disclose $42B foreign payments, first under new SEC transparency requirement.

In 2023, Exxon Mobil, Chevron Corp, and ConocoPhillips disclosed over $42 billion in payments to foreign governments, nearly eight times their domestic payments. This was the first disclosure under a new SEC requirement aimed at increasing transparency in Big Oil’s global operations. Advocates argue this is essential to assess whether U.S. taxpayers are receiving fair value amid the U.S.’s rise as the world’s largest oil producer.

September 30, 2024
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