US companies run governance risks in some countries

Many oil-producing countries with the biggest reserves don't measure up to international standards for open governments and human liberties, putting US oil companies at risk of possible governance violations through their operations in those nations, Petroleum Industry Research Foundation Inc. (PIRINC), New York, reported."US companies face the problem of maintaining acceptable standards of corporate conduct in what can be challenging (international business) environments. In certain cases such as corruption, law and international agreements provide enforceable standards for US and other—but not all—companies," said PIRINC officials.In recent years, civil suits have been f...

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