Italy's Eni signs agreement with Transparency International

Dec. 20, 2013 at 5:58 AM

MILAN, Italy, Dec. 20 (UPI) -- Italian energy company Eni said it signed an agreement with Transparency International to collaborate on ways to assess the impact of corruption.

"This agreement is a major international initiative, which once again confirms the importance given by Eni to business ethics," the company said in a statement Thursday.

Transparency International publishes, among other things, an annual corruption index ranking countries on a scale of 0-100, with 100 being the most ethical.

"For Eni and Transparency International, the principal objective of this international initiative is to further contribute towards the global fight against corruption, promoting greater transparency and moving towards a level playing field that promotes clean business," the Italian company said.

Eni issued a Dec. 4 statement distancing itself from a corruption investigation in Algeria.

Energy company Saipem, in which Eni has a controlling interest, is under investigation on allegations of offering bribes in exchange for contracts in Algeria.

Eni denies "any involvement in the events under investigation," the company said.

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