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sharing in governance of extractive industries

EITI's Blog – December 2018 Archive (5)

A 2018 end-of-year message from EITI chair Fredrik Reinfeldt

Written by Fredrik Reinfeldt

2018 was an eventful year for the EITI. Over USD 150 billion in extractives revenues was disclosed by the EITI countries in total, and over half of EITI’s 51 implementing countries were assessed against the Standard, of which Colombia, Mongolia, Senegal and Timor-Leste reached the highest level of progress. Efforts to tackle hidden ownership, corruption and mismanagement in the extractives advanced, as EITI countries raced ahead, with new…

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Added by EITI on December 21, 2018 at 11:30 — No Comments

It is time for Indonesia to take the plunge on contract transparency

Written by Victor Ponsford

Indonesia’s natural resource history stretches back to its fabled spice islands. Moving forward several centuries to the 1960s, the nation introduced an innovative contract, now typical in the oil and gas sector, called a production sharing agreement (PSA). This type of agreement is currently used in many oil- and gas-rich countries, as a way for governments to obtain a share of the oil and gas produced.

Today Indonesia has…

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Added by EITI on December 19, 2018 at 12:00 — No Comments

What the extractives sector can teach renewables on curbing corruption

Written by Dr. Gokce Mete and Joanne Jones

Renewable energy policy has more to learn from extractives sector governance than you might think. Here are four lessons the extractives sector can share to improve the chances of a successful energy transition – the switch from a fossil-based energy system to a more sustainable infrastructure, fuelled by clean energy sources.

As…

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Added by EITI on December 19, 2018 at 11:30 — No Comments

Invitation to comment on the EITI's data work

The International Secretariat invites stakeholders to provide comments on its open data efforts by 7 January 2019. The International Secretariat is working towards proposing a revised open data policy and …

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Added by EITI on December 12, 2018 at 12:37 — 1 Comment

Contract transparency builds trust and mitigates risk says Kosmos

Written by Sophie Durham

Kosmos Energy has been a leader on contract transparency for many years. Since publishing their first set of contracts for Ghana in 2011, the company has established a policy that they “prefer to make the material terms of [their] Petroleum Agreements (PAs) and Production Sharing Contracts (PSCs) publicly available”. They have filed all of their PAs and PSCs with the United States Securities Exchange Commission and published links to all…

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Added by EITI on December 11, 2018 at 12:00 — No Comments

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