Reporting guidelines for companies buying oil, gas and minerals from governments
Second edition
These reporting guidelines are for use by companies buying oil, gas and minerals from governments to inform their payment disclosures to governments.
These guidelines are intended for companies buying oil, gas and minerals from governments, to support their disclosures on payments to governments in their company reports. They aim to ensure consistent reporting of payments to the state or state-owned enterprises (SOEs) 1 in cases where oil, gas or minerals are sold on behalf of the state, where EITI Requirements apply, or where there is a commitment to transparency in commodity sales.
The guidelines provide a step-by-step approach to help companies answer key questions: who is selling the product, who is buying the product, what product is being purchased, and how much is being paid. Such disclosures complement state and SOE data, offering stakeholders clearer understanding of transactions and mitigating risks of corruption and mismanagement.
The two annexes to this guidance provide three reporting templates each, covering purchases of crude oil and minerals respectively. The reporting templates cover:
- Disclosure of commodity volumes and value by individual seller.
- Disclosure of commodity volumes of sale/transaction and of value by individual seller.
- Disclosure of commodity volumes and value by sale/transaction.
When applying these guidelines, companies should account for practical, commercial and legal considerations, which may vary depending on context. While the guidelines are designed to support transparency, they do not impose legal obligations on companies.
Developed by the EITI Working Group on Transparency in Commodity Trading, these guidelines are informed by discussions at the OECD Thematic Dialogue on Commodity Trading Transparency. They align with international transparency frameworks, such as the London Metal Exchange’s red flag assessment, which refers to the EITI disclosure requirements
- 1
The EITI Standard defines a state-owned enterprise (SOE) as a wholly or majority government-owned company that is engaged in extractives activities on behalf of the government.
