EU Oil Probe Needs More Transparency, Platts Executive Says

The European Commission’s probe into oil markets needs to be clearer in its objectives, according to Platts, an energy news and price publisher that was among the companies raided last month by investigators.

“I hope very much that in those investigations they can share with us very transparently what is it that they are looking for and who precisely they are looking at,” Jorge Montepeque, Platts’s director of market reporting, said at a conference in Kuala Lumpur today. “We need as much transparency in government action as we need transparency in the actions by the industry.”