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Johnny West's Blog (34)

Guyana's oil deal is outlier low: government takes just over half

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Added by Johnny West on March 15, 2018 at 12:43 — No Comments

Lebanon's new gas contract: everyone just take a breath!

The news that Lebanon had finally signed a contract for gas exploration in its offshore has set off a flurry of speculation in national and international media. A leading bank in the country produced a report suggesting the government could earn up to $200 billion in revenues from the deal, turn the public deficit into a surplus…

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Added by Johnny West on March 9, 2018 at 12:30 — No Comments

Running the Numbers: ADB and OpenOil launch a report on government modeling capacity

Geneva, 19 October 2017 - The African Development Bank (AfDB) and OpenOil, a Berlin-based financial analysis firm, have jointly produced a new report on how African governments use financial models to manage oil & gas and mining projects. The report was launched at the 13th Annual…

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Added by Johnny West on October 19, 2017 at 16:22 — No Comments

Is your tax break really necessary? The story of Yaoure gold mine in Cote d'Ivoire

The publication of the financial model of Yaoure gold mine shows what can be done: both in the tricky area of what tax incentives offer, and in terms of building government analytical capacity.

OpenOil, with support from the German Corporation for International Cooperation (GIZ), worked with colleagues from Cote d’Ivoire’s Ministry of…

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Added by Johnny West on October 19, 2017 at 8:30 — No Comments

Where are your country's oil projects on the "Climate Change Supply Curve"?

The latest report from Carbon Tracker Initiative, a non-profit analysis house in London, suggest that up to a third of currently planned oil and gas projects may now never go ahead because of climate change policy.

In “2D of Separation”, CTI presents the potential risks to shareholders and investors in the world’s largest fossil fuel companies of “stranded assets”: the idea that if world leaders do what they said they would…

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Added by Johnny West on June 21, 2017 at 10:21 — No Comments

"Public interest" financial modelling – the next step in EITI reconciliations?

Charting out what a project’s revenue should can strengthen the capacity of the government. (Note: coupons to learn Excel as a prerequisite to financial modeling are available from a link at the end of this blog)

When the EITI set out its work ten years ago, the core idea was to reconcile and compare the payments made by companies to governments to each other to see if they added up to the same amount. This can…

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Added by Johnny West on June 6, 2017 at 12:01 — No Comments

Argentina’s flagship shale project would need billions of dollars of subsidies

A Spanish version is available here.

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The largest shale project in the world outside the North America, in the Vaca Muerta basin in Argentina, is not viable under current market conditions and stated assumptions – unless the government of Argentina is prepared to maintain oil and gas subsidies of up to $9…

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Added by Johnny West on November 25, 2016 at 17:16 — No Comments

Indonesia: model + EITI data = insight into how the mining regime is really being applied

No single issue dominates the third model in OpenOil’s collaborative series with partners, that of the Batu Hijau copper and gold mine in Indonesia (model and project documents), with Maryati Abdullah (interview) and Rizki Ananda (interview) of…

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Added by Johnny West on November 16, 2016 at 13:30 — No Comments

Five reasons to model at the project level

The portfolio of models OpenOil is releasing with partners (including yesterday's of the Kayelekera uranium mine in Malawi, developed with the NGO Mining in Malawi) are all at the project level. Normally speaking, this involves building a view of the financial flows for the investor and government from a single mine or oil field. But of course modelling can be applied at the macro-level as…

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Added by Johnny West on November 11, 2016 at 11:06 — No Comments

Financial modeling webinar series: April 20

OpenOil is pleased to announce another round of modeling seminars online. Sign up for a series of four 90-minute seminars with modelling associate  Alistair Watson, lead developer of the IMF’s FARI model. Get hands on with examples and exercises.



The first session begins Wednesday April 20th at 0900 GMT and will be run in successive weeks at the same time each Wednesday.



This is also the…

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Added by Johnny West on April 8, 2016 at 10:22 — No Comments

Let's not make the Paris Agreement the Elephant in the Room

In my first post I referred to how the Paris agreement mentions transparency, which in the text is confined to transparency around carbon accounting and the disbursement of the huge financial aid that is an integral part of the agreement. Neither of which relate directly to transparency of the upstream in extractive industries, which is where governance…

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Added by Johnny West on December 18, 2015 at 14:25 — 2 Comments

What does COP21 mean for transparency? The page just got a whole lot bigger

What does the climate change deal signed in Paris mean for transparency in extractive industries? In the short term, relatively little. In the medium to long term however it could change everything: which natural resources are subject to transparency, how far public policy will intervene in the market, and whether we moved to a more holistic paradigm of natural resource management.

The direct crossovers between the…

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Added by Johnny West on December 15, 2015 at 13:00 — No Comments

Sign up for online training in how to model extractives projects!

OpenOil is pleased to announce an online training for financial modeling of extractives projects. Sign up to learn the basics of how to model revenue flows, investor returns and fiscal regimes of oil and gas projects!

Beginning on Friday November 13th, there will be five weekly Google Hangouts which walk…

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Added by Johnny West on November 6, 2015 at 14:51 — No Comments

OpenOil repository third edition: 723 contracts from 72 countries

We are happy to announce the third edition of the contracts repository, with 200 new contracts and 18 new countries. The repository now totals 723 contracts from 72 countries. As ever, the entire repository is available at a single click (4 gigabytes), or a cut down version (507 contracts, 1 gigabyte, 30 minutes on a fast connection). The…

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Added by Johnny West on July 2, 2015 at 10:30 — 1 Comment

Come and get it! OpenOil launches first open API for data on oil rights

OpenOil is pleased to announce what we believe is the first open API applied to oil extraction rights around the world: the 20,000 “blocks”, “fields” and “concession areas” (we'll get into naming problems a little lower down) from some 69 countries involving some 2,142 unique corporate structures as operators and contractors.

We hope this Application Programming Interface is a significant step towards a formal, open data…

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Added by Johnny West on May 22, 2015 at 12:38 — No Comments

Shell, BG and keeping the lights on in Tunisia

What it would be really interesting to know is: how far is Tunisia's government aware today that it will shortly have a new business partner in keeping the lights on in the country?

The announcement that Shell is acquiring the BG Group is certainly global business news. A result of falling oil prices and higher costs, the pressure on some companies with less capital and the highest profile example of consolidation that market analysts in London, New York and who knows where else have…

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Added by Johnny West on April 8, 2015 at 14:52 — No Comments

Public modeling can drive "keyhole surgery transparency"

Open financial models can clearly put analysis into a genuinely independent public space, and also trigger a rise in public understanding which could enrich the governance debate in many countries.

But there is a third function public…

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Added by Johnny West on April 1, 2015 at 12:00 — No Comments

Public Interest Modeling: the entry point to transparency work, not its grand finale

Models are powerful tools. So powerful in fact that the discussion of whether they should be unleashed into the public space has sometimes been accompanied by a discussion of the “dangers” of doing so – reminiscent of the first debates around the idea of transparency itself.

General thinking has been that models are a stage to aspire to, to work up towards - perhaps because they involve a degree of technical complexity, and because they have…

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Added by Johnny West on March 27, 2015 at 14:43 — No Comments

Public Interest Modeling: don't let the perfect the enemy of the good!

I opened this series by saying that public interest models of extractive industry projects did not serve only the purposes financial models have been used for to date but had, in addition to their analytical function, the three other main functions of pedagogy, advocacy and strengthening government support.

In this post I will focus on how public interest models – published on the Internet and relying on public domain data – measure up purely in the…

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Added by Johnny West on March 25, 2015 at 16:30 — No Comments

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