Bribery laws pose compliance challenge for energy firms

money-and-locks — Laws aim to restrict firms' ability to offer bribes

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Energy firms face a challenge complying with new regulations in the European Union (EU) and the US that will require oil, gas and mining companies to report payments to foreign governments, according to industry experts.

"For a large multinational company, this can be a huge data management challenge," says John Covey, a Houston-based director in the energy risk consulting services practice at PricewaterhouseCoopers. "Essentially, they have to identify what qualifies as a payment and be able to

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