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Oil companies fuel corruption in poor oil producing nations, says the international corruption watchdog, Transparency International(TI), calling on western governments to go public with transactions by oil companies. Oil companies fuel corruption in poor oil producing nations, says the international corruption watchdog, Transparency International(TI), calling on western governments to go public with transactions by oil companies. “TI urges western governments to oblige their oil companies to publish what they pay in fees, royalties and other payments to host governments and state oil companies,” said a press release from TI on Wednesday.

“Access to this vital information will minimise opportunities for hiding the payment of kickbacks to secure oil tenders, a practice that has blighted the oil industry in transition and post-war economies,” says TI Chairman, Peter Eigen.

The non governmental corruption watchdog published its corruption Perception Index for 2004 on Wednesday and noted that oil rich developing countries suffer from acute corruption.

Oil producers like Angola, Azerbaijan, Chad, Ecuador, Indonesia, Iran, Iraq, Kazakhstan, Libya, Nigeria, Russia, Sudan, Venezuela and Yemen are all extremely h