The Iraq Extractive Industries Transparency Initiative (IEITI) hosted a seminar for all its oil operators and buyers in Dubai on 6-7 June. Around 20 companies from Asia, Europe, America, and Africa, participated in the seminar which, for many of them, was a first introduction to the EITI process. The IEITI will be the first to include the publication of revenues from the export sale of oil and thus engages oil trading companies in the process. The meeting also saw ExxonMobil, CNPC, and Shell, elected to the IEITI Stakeholders Council. This is the first time a Chinese company is to be represented on an EITI multi-stakeholder group. Iraq plans to disclose payment figures in their first EITI report early in 2011.
The Inspector General in the Ministry of Electricity, Mr Alaa Mohie El-Deen has been appointed as the head of the IEITI National Secretariat and will provide the day-to-day support to the EITI process in Iraq. Following the election of ExxonMobil, CNPC, and Shell to the IEITI Council Mr Mohie El-Deen said: "This seminar has deepened the understanding of all stakeholders on how the companies can best support the IEITI process. The engagement of these companies and the election of these 3 international companies represents a clear step forward in the Iraq process".
Earlier this year Noori Al-Maliki, Prime Minister of Iraq launched the Iraqi implementation of EITI, the global standard for improved transparency in the oil, gas and mining sector. In February 2010 Iraq was accepted as a Candidate country within the EITI. Iraq has until February 2012 to implement the EITI standard and undergo an EITI Validation in order to become an EITI Compliant country.
For further information about EITI implementation in Iraq, visit the Iraq country page or contact Regional Director Eddie Rich at the EITI International Secretariat.
