We are a founding member of the Extractive Industries Transparency Initiative (EITI), which supports the disclosure of payments made to and received by governments in relation to oil, gas and mining activity. As part of the EITI, we work with governments, non-governmental organizations and international agencies to improve the transparency of payments to governments. We supported EITI implementation in a number of countries where we operate, including Iraq and Trinidad & Tobago, in 2018.
In addition, we disclose information on payments to governments for our upstream activities on a country-by-country and project basis under national reporting regulations, such as those in effect in the UK.
BP supports transparency of the contracts under which oil and gas development rights are granted. This can strengthen understanding of our industry and government accountability by allowing citizens and host communities to assess the terms on which oil and gas are produced and revenues shared. We believe that in order to manage commercial risks, the process should be led by host governments.