The sale of crude oil by national oil companies (NOCs) generates a large share of government revenue in oil-producing countries. NOC export sales bring in more than two-thirds of total government income in countries such as Angola, Azerbaijan, Congo-Brazzaville, Iraq, Saudi Arabia and Yemen.
The Petroleum (Exploration, Development and Production) Bill, 2012, will govern upstream petroleum activities, including procedures for licensing, environmental safeguards, transparency rules and the government’s institutional set-up.
In order for Russia to create a more diversified and stable economy, the government must change how it manages the enormous profits it earns from oil and gas—money that accounts for a quarter of Russia's GDP, half of the federal budget revenues and three-quarters of all exports.
From 2009 to 2011, with support from the Bill and Melinda Gates Foundation, Revenue Watch conducted capacity-building projects for parliamentarians, civil society organizations and media in Ghana, Sierra Leone, Tanzania and Uganda.
In many countries rich in minerals, mining deals between industry and government have failed to deliver the benefits citizens expect—not only because of bad contracts but also because governments and civil society fail to effectively monitor and enforce company compliance with the terms of good c