News

The EITI has received over USD 1 million in funding from the UK’s Department for International Development (DFID).

The Government of the United Kingdom affirmed its leadership role in fighting corruption and its support of efforts to reveal real owners ahead of the Open Government Partnership Summit in Paris this December.

Oil and gas income more than halved

Kazakhstan has released its 2015 EITI Report, documenting a substantial decrease in revenue from the extractive sector in 2015 compared to the previous year. Low commodity prices, devaluation of the national currency, tenge, and decline in oil output means that the government collected only USD 12 billion in taxes and other payments from the sector. In comparison, the sector yielded more than USD 26 billion in 2014.

Honduras’ 2014 EITI Report provides improved information on mining and identifies gaps in revenue collection. With the outlook for the sector uncertain, there are several opportunities for the EITI to make an impact.

The 2014 EITI Report provides a concise summary of the mining sector in Honduras, drawing on and  supplementing the information available in the transparency portal of the mining regulator and cadastre agency INHGEOMIN.

Trinidad and Tobago’s 2014 and 2015 Report show declining revenues and highlight the need for improved revenue collection systems

The Trinidad and Tobago’s EITI (TTEITI) latest report reveals that in 2015 the country received USD 3.3 billion in revenues from the extractive sector. This is a 27% decline from 2014. Despite depressed gas prices, the government avoided an even more drastic reduction in revenues. This was mainly due to an increase in dividends paid by the national gas company NGC.

Senegal is enacting a range of reforms, focusing on oil and gas ahead of expected windfall.

Senegal’s second EITI Report covering 2014 was launched in October amidst robust public debate calling for more openness about recent natural gas discoveries offshore. The process of implementing the EITI Standard in Senegal has informed recent reforms including publication of oil and gas contracts,

Second Validation concludes meaningful progress, but more is needed.

Wednesday, 26 October – Azerbaijan today had its EITI membership extended. The international EITI Board reached this decision at its meeting in Astana, Kazakhstan following the recently published EITI Validation report. Validation is the EITI’s independent evaluation mechanism.

The EITI Chair, Fredrik Reinfeldt, visited West Africa during the week of 22-26 August. He visited a region emerging from the Ebola crisis and struggling with low mineral prices.  The former Swedish Prime Minister met with his counterparts in Guinea and Cote d’Ivoire. Both Guinea’s Prime Minister Mamady Youla and Cote d’Ivoire’s Prime Minister Daniel Kablan Duncan reaffirmed the commitment of their governments to using the EITI to improve the governance of their extractives sectors.

The Securities and Exchange Commission’s (SEC) regulation giving effect to Section 1504 of the Dodd Frank Act has been published. The rules will require extractives companies in the US to disclose payments made to governments for the commercial development of oil, natural gas or minerals, disclosures that have already become routine in many EITI implementing countries.

The Government of Côte d'Ivoire aims to reduce its dependence on cocoa and coffee by developing the oil, gas and mining sector.

Mauritania’s traditionally dominant mining sector has been hit by lower global prices and challenges at the state-owned mining giant. At the same time, West Africa’s largest natural gas discovery has generated momentum behind the formulation of stable long-term policies for the country’s extractive industries.

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