Oxfam America has filed a motion to intervene in a lawsuit filed last month by the U.S. Chamber of Commerce and oil companies over a new requirement that they disclose payments made to governments in exchange for extraction rights.
The law in question, known as Section 1504 or the Cardin-Lugar Amendment of the Dodd-Frank Act requires oil, gas and mining companies to disclose payments they make to U.S. and foreign governments for natural resources extraction. The Securities and Exchange Commission issued a final rule on the disclosure mandate on Aug. 22. Among the groups seeking to overturn the law and block implementation was the American Petroleum Institute, which represents, among other companies, Shell, Chevron, BP, and Exxon.
