In an move welcomed by observers and oversight actors, the regulatory body overseeing the Lebanese oil and gas sector has published exploration and production agreements by the government and a consortium for two offshore blocks.
Political parties can help ensure that their country gets the best deal for the extraction of its resources, manages revenues for the long-term best interests of citizens and avoids the resource curse.
On the sidelines of Advancing Accountable Resource Governance in Asia Pacific, Grice spoke with NRGI about a formative early work experience in Papua New Guinea as a sustainable development group manager with Newcrest Mining, his more recent work and quantifying the unquantifiable.
Unlike in the resource-rich country in the film Black Panther, much of Africa’s mining sector is currently dominated by foreign direct investment; its raw minerals are often exported with limited local participation in the sector and tax revenues are eroded.
Along with diverse mineral resources, Ukraine has approximately 900 billion cubic meters of proven reserves of natural gas. And over the past years, the country has made important strides in extractive industries governance.
French oil giant Total is the latest company to make a policy statement in support of contract transparency in the extractive industries. This is the first policy statement of its kind by one of the so-called “supermajors”—the world’s largest publicly traded oil and gas companies.
Last week, the government of Ghana followed through on a promise it made in July 2017 by launching a public petroleum register that contains the full texts of petroleum agreements, licenses, permits and authorizations.