TI ranks Gazprom among most non-transparent companies

PanARMENIAN.Net - Russian gas giant Gazprom ranked among the most non-transparent international companies according to a survey posted by Transparency International on Tuesday, July 10, RIA Novosti reported.

International companies in all business fields are scored from 0-10 based on their disclosure of information important for investors and the general public: where they pay their taxes, their corporate structures and what they are doing to prevent corruption, TI said in the survey.

Gazprom ranked 98th with 2.8 points in the Top 105 rating named 'Transparency in Corporate Reporting', the only Russian company in the rating. Norway's Statoil oil and gas firm is at the top with 8.3 points.

TI also found that 50 firms from the 105 companies surveyed in the report did not disclose revenue/sales in any country of foreign operations, 85 firms did not disclose income tax in any country of foreign operations and 39 do not disclose any financial data (tax, revenue, sales, pre-tax income, capital investment, community contributions) in their countries of operation.