Last week, investors and Saudi Arabia watchers got an eyeful of the massive riches of state oil company Saudi Aramco, which in a prospectus reported USD 111 billion in profits for 2018. But despite their role as custodians of masses of public money, state oil companies are notoriously opaque.
The twists and turns around the possible initial public offering (IPO) of some portion of Saudi Aramco have been monitored by the press like a sporting event. The long-term influence of Aramco’s decision on Saudi Arabia and the global governance of state-owned oil companies promises to be significant.
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.
Students from the Madeleine Albright Institute of Global Affairs at Wellesley College recently asked NRGI governance policy analyst Marie Lintzer some fundamental and important questions about the governance of the extractive sector.