Guidance Note: EITI Requirement 4.2 (first trades)
Reporting on first trades in oil
|This guidance note refers to the 2016 EITI Standard.|
This guidance note is the first effort by the EITI Working Group on Transparency in Commodity Trading to assemble guidance on ‘first trade’ reporting in oil. The guidance has three intended audiences: first, the EITI MSGs in implementing countries that will determine their respective country’s approach to reporting in this area; second the governments and SOEs that sell commodities, which can opt to directly disclose further information about these transactions; and third, buying companies who can use the guidance to inform their own reporting, or draw on it to achieve compliance with EITI MSG set reporting requirements in EITI implementing countries where they execute sales.