Oil companies in developing countries

, by Choike

A large body of evidence suggests that rich oil resources obstruct democracy and equitable economic growth in developing countries because of a lack of transparency, and therefore accountability, in oil revenues paid by oil companies to governments.

The human rights implications of the activities of transnational corporations (TNCs) and other business enterprises in conflict zones, “failed states” and repressive regimes have drawn increased public attention, concern and scrutiny in recent years.

The increase in oil exploration in Africa by multinational oil companies has raised the profile of the debate, questioning the oil industry’s contribution to development in the South.

In some countries of Latin America there is a long history of opposition to oil exploitation, because of its serious environmental and social impacts and human rights violations. Read more