sharing in governance of extractive industries
The below is based on a speech given by Fredrik Reinfeldt, Chair of the EITI, at the EITI Board meeting side event on contract transparency in Berlin June 2018.
In 2013, the EITI Standard started to encourage contracts to be disclosed. Contracts, it is worth reminding ourselves, are legal documents that governments enter into on behalf of their people. Experience has shown that in many cases, in particular in countries…Continue
Added by EITI on June 29, 2018 at 13:57 — No Comments
The EITI Board today approved the Netherlands’ application to join the EITI.
The Netherlands has been closely involved with the EITI since its inception, and has now made the transition to being both a ‘supporting’ and ‘implementing’ country.
The Netherlands’ admission to the EITI is timely, as it faces changing circumstances in its gas sector. The Groningen gas field in the north-east was discovered in 1959, and is one of the largest gas fields in the world. The…Continue
Added by EITI on June 29, 2018 at 13:49 — No Comments
EITI-Colombia has published verified revenue information, shone a light on revenue distribution to regions and started to tackle challenges in environmental regulations.
Colombia was assessed today as the first country in the Americas to meet all the requirements of the EITI Standard. The EITI Board reached that decision in its meeting in Berlin today. The Board found that Colombia had demonstrated satisfactory progress in all requirements of the EITI Standard.
Added by EITI on June 29, 2018 at 13:47 — No Comments
Q&A with Rio Tinto: the first mining company to adopt contract transparency policy
Mining giant Rio Tinto was the first major mining companies to announce that they will support the public disclosure by countries of their mining contracts and licenses. By coming out in favour of contract transparency, the company is joining ranks with Total, as well as smaller oil companies Kosmos Energy and Tullow Oil. In a statement, EITI Chair, Fredrik Reinfeldt “welcomed…Continue
Added by EITI on June 27, 2018 at 13:30 — No Comments
Written by Gay Ordenes
While preparing for the Beneficial Ownership Global Conference that the EITI organised with the government of Indonesia in Jakarta last year, I witnessed how the discussion on ownership transparency started to gain traction. The Panama leaks had sparked a global debate on ownership transparency, Indonesia was due for its …Continue
Added by EITI on June 15, 2018 at 14:58 — No Comments
North Sea production and revenues rise for the first time in three years
The United Kingdom is the world’s 22nd largest producer of oil and gas. In addition, it produces small amounts of coal, industrial materials such as kaolin and potash, and construction materials. Overall, the extractives sector contributed a gross value-added of almost USD 30 bn to the UK economy in 2016. According to the UK Office for National Statistics, 35,500 people are directly employed in the…Continue
Added by EITI on June 10, 2018 at 13:00 — No Comments
As oil prices reach 2014 levels, Nigerians wonder whether they are better placed to take advantage of future commodity booms.
The fall in commodity prices impeded growth in African countries, decelerating the pace of economic expansion in the continent to levels not seen since 2009. Higher oil prices are expected to provide some respite,…Continue
Added by EITI on June 6, 2018 at 13:00 — No Comments
The 2016 report confirms Trinidad and Tobago’s sharp decline in extractives revenues and draws attention to areas of concern including unpaid transfer licenses fees, unpaid payments from quarries, weak auditing practices in companies and government agencies, and poor production data.
On 11 May, Trinidad and Tobago (T&T)’s EITI published its …Continue
Added by EITI on June 5, 2018 at 10:40 — No Comments
Establishing an evidence-based approach to reforms, in a land where rumours are rife.
In Albania, citizens are unaware of how much extractive companies have been paying and contributing to local communities.
EITI reporting revealed local government units (LGUs) have often not been receiving their statutory share of royalties. In the past, the transfer of 25% of royalties to LGUs was contingent on LGUs receiving 120% of their budgeted local taxes. This was nearly…Continue
Added by EITI on June 1, 2018 at 9:28 — No Comments