News

Board assesses the country as having achieved “meaningful progress”

13 February 2018 – The EITI Board today decided that Albania has made meaningful progress in implementing the EITI Standard. The Board congratulates the Government of Albania and Multi-Stakeholder Group (MSG) on the progress made 'in improving transparency and accountability in the extractive industries by using the process to address local concerns,

Board assesses the country as having achieved “meaningful progress”.

13 February 2018 – The EITI Board today decided that Kazakhstan has made meaningful progress in implementing the EITI Standard. The decision highlights how the Government of Kazakhstan and the National Stakeholders Council (NSC) have made progress “in improving transparency and accountability in the extractive industries by providing timely and reliable information to the public, including civil society,

Papua New Guinea’s economy slowed down to 2% in 2016 as oil production declined. This is a sharp decline from 10.5% growth in 2015. The 2016 PNG EITI Report explains that the economic slowdown was a result of declining revenues partly attributable to the closure of the two major mines in the country, namely Ramu Mine and Porgera mine. Overall, the mining and petroleum sectors contributed to 3% of government revenue and 84% of total export value.

From licensing to state-owned companies, Mongolia’s latest EITI Report is a timely diagnostic of mining governance in practice

International commentators have long quoted the Mongolian folk saying that “Mongolian rules only last three days”. Mongolia has sought to rebuild its standing with investors through public-private partnerships and providing reassurance that regulations are applied consistently in practice.

On December 6, 2017, the National Government of Argentina, through its Minister of Energy and Mining, Juan José Aranguren, and the head of its Anticorruption Office, Laura Alonso, declared its commitment to adhere to the Extractive Industries Transparency Initiative International Standard (EITI).

The oil and gas sector remains the primary source of revenue for Timor-Leste, with a contribution of USD 1 billion in 2015, comprising 85% of state revenues and 48% of GDP, according to the 2015 Timor-Leste EITI Report. However, the report also highlights the steady decline in revenues through the years, from a high of USD 3.8 billion in 2012 to USD 1 billion in 2015—the lowest amount registered since 2008. The decrease from 2014 was USD 854 million or 45%.

The EITI reports of the Philippines have always served as a diagnostic tool to evaluate government systems and a platform for stakeholders to collectively agree on recommendations for reforms. The recently published PH-EITI Report for fiscal years 2015 and 2016 describes progress in levels of transparency, as well as areas where governance of the extractive sector may be improved.

Improvement in local government reporting 

Colombia and the Dominican Republic launch EITI Reports through innovative data portals and Mexico prepares to mainstream the EITI from the start.

Latin-American countries are increasingly disclosing EITI data through innovative approaches that bring information on the extractive industries online in a more comprehensive, timely and user-friendly fashion.  

The US House Financial Services Committee yesterday voted to proceed with a bill (H.R. 4519) that would repeal Section 1504 of the Dodd-Frank Act.

The EITI Chair Fredrik Reinfeldt said: "I believe it would be a setback for transparency in the extractive industries if this legislation is adopted and 1504 repealed".

Kazakhstan published its 12th EITI Report in October 2017, keeping its leading position in timely reporting.  The 2016 EITI Report covers the biggest mining, oil and gas companies which account for almost 99% of the extractive revenues. The report shows that the government received USD 27 billion from the sector, constituting over one third of their revenue and more than half of the total exports in 2016. Total social payments reported by the companies amounted to USD 114 million.

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