One of the things oil companies battle in the public is a bad reputation. In Malaysia, the petroleum industry is being given a chance to clean that up.
It is now compulsory for licensees of the countries Petroleum Development Act (PDA) to sign a Corporate Integrity Pledge. The goal is to free the industry from reputation smears such as corruption and bribery.
The Malaysian Anti-Corruption Commission Deputy Commissioner Datuk Mustafar Ali said, “we have expressed our readiness to work with the ministry to make corporate integrity a fundamental policy in curbing corruption and subsidized fuel abuse.”
To date about 20 percent of companies covered by the PDA have signed on. Regular monitoring will be done to ensure the rules are being followed.
(source: Malaysian Digest)