As NRGI gathers data in the effort to improve international benchmarks of national oil company performance and revenue management, figures from Extractive Industries Transparency Initiative reports are proving extremely valuable. This is especially the case in a number of African countries where state companies do not produce detailed financial reports on their own.
NRGI set out to collect total oil, gas and mining revenue data for the countries included in the Resource Governance Index to find out how many dollars flow to governments that mismanage the handling of their natural resources.
We know how critical the natural resource sector can be for a country’s development. However, only about 10% of OGP commitments relate to natural resources. The drafting of new national action plans (NAPs) by June offers a unique opportunity to increase commitment to good governance of the oil, gas, mining and forestry industries. The OGP Openness in Natural Resources Working Group (ONRWG) has come up with three priorities...
The evidence is mounting: contract transparency in extractive industries is becoming the norm. This was clear during two contract-focused events at the recent EITI conference—an informal learning and sharing side event and an official conference panel event.
The steep drop in global oil and gas prices threatens to dramatically impact countries that have staked significant economic hopes on new projects as an engine for economic development. The commodities boom that began in 2004 spurred a wave of new investments in exploration and development, as the potential value of new discoveries rose and complex projects that would have previously been uneconomical became viable.
Three years after its first democratic presidential election, and just three months after its first democratic legislative election, the Republic of Guinea faces a momentous opportunity to correct the wrongs of the past, prevent future corruption, and establish a stable and attractive investment