Guidance note on SOE participation in EITI reporting
Guidance note 18 - Requirements 3.6, 4.1(c) and 4.2(c) (2013 Standard) / Requirements 2.6, 4.2, 4.5 (2016 Standard)
|Please note that this guidance refers to the 2013 Standard. In most cases, the requirements remain the same and the guidance valid. An updated version reflecting the 2016 Standard will follow soon.|
In 2012, the IMF reported that “some 80 percent of world petroleum reserves are controlled by state companies and 15 of the 20 largest oil companies are state-owned”. State-owned enterprises (SOEs) are less common or dominant in the mining sector but may still play an important role in some countries. SOEs may own and operate projects, either outright or in joint ventures. State equity is used by many countries to secure additional government take (beyond tax revenue) from extractive projects. This is sometimes motivated by non-fiscal concerns such as: a desire for direct government ownership, a “seat at the table,” or to facilitate the transfer of knowledge.