News and blog posts

EITI media roundup, July 2010

The EITI Secretariat monitors on a daily basis global media for mentions of the EITI. Below are some of the articles from the past month that the EITI Secretariat has picked up.


Op-ed by Paul Collier in the New York Times: In Afghanistan, a Threat of Plunder
"the country’s first extraction deal, for copper, was won by the Chinese in murky circumstances — the minister of mines was accused of taking a $30 million bribe. But now Kabul has signed on to the Extractive Industries Transparency Initiative, a set of disclosure standards created seven years ago by an international organization of governments, civil society and business."


Azerbaijan’s civil society announces success in ensuring full accountability of some oil contractors
"'This question was offered by the Coalition EITI in Azerbaijan, but most oil companies refuse to disclose this information, citing the fact that it is a commercial secret. The American law makes this reporting compulsory. This is an achievement of the NGOs Coalition and the civil society in Azerbaijan,' the Coalition considers."


Fight against corruption and conflict: The DRC welcomes the act done by the U.S. legislator and asks others to follow the lead [in French]
"In a press release filed yesterday in the newspaper L'Avenir, the Government of the Republic, through Lambert Mende, Minister of Communication and Media expresses her gratitude to the executive and the legislature America this noble initiative which goes in the direction of our national interests."


Government to Publish Cash from Oil
"Government is expected to publish its income from the sale of the country’s crude oil. Similarly companies which buy the oil would be obliged to publish the amounts they paid to government for it. This follows Cabinet approval of a document to accelerate Ghana’s affiliation to the Extractive Industries Transparency Initiative (EITI) to subject the crude production and sales to public scrutiny."

Modern Ghana: What would US Congress transparency reforms mean to Ghana?
"The legislation by Congress to require companies to publicly report revenues they receive and pay to host governments complements the Extractive Industries Transparency Initiative (EITI) which is fast becoming the global standard for transparency in natural resource extraction."


The Jakarta Post: US financial reforms affect transparency in Indonesia
"Transparency Indonesia deputy secretary-general Rezki Sri Wibowo said the Wall Street Reform Act was in line with the principle of the Extractive Industry Transparency Initiative (EITI), a global initiative requiring extractive industries to report their income to the public and the government."

Bisins Indonesia: Extractive Industry Becomes More Transparent; US Finance Law Expected to Inspire Local Companies [in Indonesian]
"Ridaya revealed the law was in line with the EITI (Extractive Industries Transparency Initiative) Presidential Regulation issued by President Susilo Bambang Yudhoyono on April 23."
"Head of oil and gas regulator BP Migas R. Priyono gladly welcomed the Finance Law. 'Everything that leads to public transparency is good!'"


At NEITI road show, Nigerian government announced target for improving the country’s corruption rating
"Minister of Finance, Dr.Segun Aganga, who disclosed this recently in Lagos at a road show organised by the Nigerian Extractive Industries Transparency Initiative (NEITI) said the development became imperative in order to salvage the dwindling image of the country."

At NEITI road show, Nigerian government disclosed that it received US$220 bn from oil and gas companies between 2003-2009
"Fawthorpe, who is also the Managing Director of Chevron Nigeria Limited, disclosed that oil production grows from 2.2 million barrels per day (bpd) in 2003 to about 2.4mbpd in 2005. This, he said, was further slashed to 2.2mpbd between 2007 and 2008 by the militants' activities in the Niger Delta region, and finally hit 2.3mbpd in 2009."

NNPC defaulted on dept, says NEITI
"THE Nigeria  Extractive Industries Transparency Initiative, NEITI, yesterday, accused the Nigerian National Petroleum Corporation, NNPC, of consistently defaulting in remitting funds into the Federation Account over the years."

Nigeria’s wobbling EITI status
"There is no doubt that many Nigerians would have been shocked after learning recently that the Nigerian Extractive Industries Transparency Initiative (NEITI), is currently standing on a shaky ground and that if certain actions are not taken urgently by the Federal Government, Nigeria many lose its status as a candidate country of Extractive Industries Transparency Initiative (EITI)."


Peter Eigen interviewed by Jaime de Althaus on Peruvian television [Spanish]


Timor-Leste gets oil transparency OK
"Timor-Leste today joined Azerbaijan and Liberia as the third nation to achieve compliance with the standards set by the Extractive Industries Transparency Initiative (EITI)."

East Timor leads the way in transparency in Asia
"It is not often that East Timor (or Timor Leste) is lauded as a front runner in global developments, but when it comes to transparency, this oft-troubled country is one of the leaders, according to the Extractive Industries Transparency Initiative (EITI)."


Oil: Washington wants more transparency [in French]
"The oil companies have no objection in principle to more transparency. They support the initiative for the Extractive Industries Transparency Initiative (EITI). Launched in 2002, it compares the returns of governments with the payments industry. 'The process initiated in the framework of EITI avoids distortions of competition because it imposes the same obligations to the all companies that work in one country', said Jean-Francois Lassalle."

Editorial in Financial Times: US shines a light
"By taking this step, Congress has put the force of law behind the existing gold standard for transparency in the industry: the text explicitly refers to the voluntary Extractive Industries Transparency Initiative.
Some companies opposed the move. But it imposes only a light burden on the petroleum and mining sectors, both of which already support EITI. In fact a legal obligation benefits the industry by forcing unscrupulous companies to abide by high standards. Such is the dependence on US financing that the vast majority of internationally active groups are covered."

Payment Disclosure Could Put O&G Companies at Disadvantage
"API does support transparency in disclosure of payments, 'but we don't think this level of disclosure is the right way to do things.' McGowen said API supports and participates in the Extractive Industries Transparency Initiative, a multi-lateral, international initiative to promote transparency in oil and gas payments."