Anglophones and Lusophones walking the walk to reveal who stands behind companies

Nine Extractive Industries Transparency Initiative (EITI) implementing countries in the Anglophone and Lusophone region of Africa met in Abuja in early November to plan for the implementation of beneficial ownership (BO) disclosures. At the center of the discussion was the painstaking process of planning how to reveal who stands behind oil, gas and mining companies. Ben Mellor, the UK DFID country representative to Nigeria,

The Panama files and the EITI’s ground breaking rules on ownership reporting

What role does the EITI play in revealing hidden owners?

The EITI is a standard for countries with oil, gas and minerals. The 51 EITI countries require all companies extracting oil, gas and minerals to publish what they pay in taxes and royalties and the government commits itself to publish what it receives, including other key information about the sector. The findings from early implementation concluded that such reporting was a good start, but that it was not enough.

Kyrgyzstan receives the first EITI Chair’s Award for Beneficial Ownership Transparency

Ghana, Indonesia, Ukraine and United Kingdom also honoured

Chair of the EITI, Fredrik Reinfeldt, today announced the winner of the 2017 EITI Chair’s Award for Beneficial Ownership Transparency at the EITI ‘Opening Up Ownership Conference’ in Jakarta.

The winner was Kyrgyzstan for its new mining law, which requires companies to disclose their beneficial owners when they apply for a license. The law includes a clear definition of ownership,

The Opening Up Ownership Conference

"This Conference is a milestone in the global fight against corruption. I am proud that the EITI’s member countries have committed to ensure that the ownership of the oil, gas and mining companies that operate in their countries will be open for anyone to see."  - Fredrik Reinfeldt, EITI Chair

See more of the Beneficial Ownership Conference's speeches, sessions, blogs, and other outcomes here

Transparent business is good business

In this speech, held on 23 May at the Statoil office in Fornebu, Oslo, Statoil's CEO Eldar Sætre lays out why the company is engaged in the EITI. 

Good evening everyone and welcome to Statoil. lt's a great pleasure to host the EITI here in Oslo.

Oslo's nickname in Norwegian is 'Tigerstaden', the Tiger City, which came from its reputation, 150 years ago,