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In November 2014, we became the first privately held commodities trading company formally to declare our support for the EITI. Our Payments to Governments Policy, drawn up in consultation with the EITI International Secretariat, commits us to disclose payments to National Oil Companies (NOCs) for crude oil and petroleum products, including gas, as well as associated corporate taxes and, where relevant, licence payments to Governments. As a leading commodities trading house, we have a role in making such disclosures, and believe that Governments have an important part to play in disclosing how they use these funds.

We continue to work with an EITI-mandated multi-stakeholder working group, which includes trading companies, NGOs and SOE representatives that help implementing countries with significant commodity trading activities extend their reporting of the revenues they receive from commodity sales.