News

Latest EITI Report gives clear status update on petroleum exploration in the island nation.

Fifteen years of oil exploration in São Tomé and Principe (STP) have so far resulted in more costs than income, according to the recently published 2015 STP-EITI Report. Recent activities in the Exclusive Economic Zone (EEZ) offer hope for a turn around,

The 39th Board meeting took place last week in the city that hosts the EITI International Secretariat.

EITI: A platform for progress

The 2018 Progress Report was launched on the eve of the Oslo Board meeting. This year’s edition highlights the impact the EITI has had across the 51 member countries. The report presents EITI policy on issues such as commodity trading, state-owned enterprises, beneficial ownership, environmental reporting and gender equality. Overall,

The TLEITI has increased understanding and engagement in the governance of the oil and gas sector

Oslo, 14 February - A year after being assessed to have achieved meaningful progress in implementing the EITI Standard, Timor-Leste has been received an overall assessment of satisfactory progress.

The decision came after the Board determined that Timor-Leste had sufficiently addressed the seven corrective actions imposed by the Board when it first Validated the country on 11 January 2017.

The Board welcomed the resilience of EITI implementation in a context of political change

13 February 2018 - The international EITI Board today recognised Burkina Faso’s efforts to improve natural resource governance through the EITI Standard. The Board concluded that the country had made meaningful progress in meeting the EITI requirements.

The Board congratulated Mongolia for its use of EITI to shine light on challenges in licensing and reporting of state-owned companies.

13 February 2018 – Mongolia was today assessed as meeting all the requirements of the EITI Standard. The decision was made by the EITI Board, who praised the swift efforts in addressing gaps in EITI implementation identified in its first Validation.

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).

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