Transparency has become a topic of interest as the oil and gas industry experienced some dramatic developments in Africa and around the World. New studies have pointed out the phenomenon of "Resource Curse", arguing that opaque environment triggers negative outcomes in resource rich countries. Several researchers focused on Transparency as a tool to prevent such developments, but no clear explanation why transparency has not become an institutional practice were given. This work aims at exploring the very roots of problems that are associated with transparency and accountability of oil and gas companies. It provides an overview of existing studies on transparency, reviews industry's performance in the field of information availability and brings a case study of oil companies that struggle to create a transparent image while pursuing operations in very challenging environments. Direct and critical questions and sincere answers from real interviews bring explanation on some very central problems and help to reveal the story behind the scene.