What did the research involve?

Few details are known about the murky and expansive networks of extractive companies’ and their subsidiaries. PWYP Norway has sought to clarify this picture by finding out how many subsidiaries companies’ have and where these are located, also establishing through this process how many are located in secrecy jurisdictions.

PWYP Norway’s research included 13 case studies: 10 global companies and three Norwegian ones. More information on how these were selected can be found under “Included companies”.

PWYP Norway examined the companies’ annual returns and stock exchange filings, where information on subsidiaries are kept, and entered the data in the specially designed web database. We were then able to calculate the percentages of subsidiaries in secrecy jurisdictions, according to the Financial Secrecy Index’s definition (see under “What is a secrecy jurisdiction?”).