Some oil, gas and mining companies reporting their payments to governments under U.K. law have omitted important elements. Publish What You Pay and NRGI have raised concerns around the omissions, and authorties are taking action.
As a global transparency initiative prepares to require member governments to publish the contracts they sign with oil, gas and mining companies, an executive for French oil major Total discusses the potential benefits of contract disclosure for investors in Myanmar.
Journalists covering oil, gas and mining topics, especially in challenging jurisdictions, often face ethical dilemmas. NRGI continues to work to equip them with the skills they need to navigate these tricky spaces.
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.
State-owned enterprises (SOEs) sit at the center of economic decision-making in many countries worldwide. Some have thrived, but many suffer from commercial and governance challenges. SOEs in the oil and gas sector have proven particularly prone to governance issues.
Over the past decade at least, “resource nationalism” has been a hotly debated concept for those in the oil, gas and mining industries, government decision-makers and media who cover the space.
Daniel Kaufmann, Erica Westenberg, Rebecca Iwerks, Joseph Williams, Rob Pitman
Major enhancements of the global norms governing transparency in natural resources are afoot. Progress on these issues helps ensure that EITI remains relevant as a global standard for extractives transparency and reflects emerging best practices in implementing countries.