News

7 May 2008 the EITI Board welcomed Côte d'Ivoire as an EITI Candidate Country and is now among the 23 countries in Africa, Asia, Middle East and Latin America that are underway in implementing this standard for transparency in the extractive industries. It now has two years to become compliant with the EITI Criteria and undergo validation

The World Bank and the EITI Secretariat hosted a one-day workshop on EITI Reconciliation issues in Paris on Tuesday, 1 April 2008. This workshop was attended by a dozen individuals and companies who had been involved in EITI reconciliation process in the 10 EITI reporting countries. This was a good opportunity for them to exchange insights and information, and to develop suggestions to address the EITI reconciliation issues.

[img_assist|nid=348|desc=|link=none|align=right|width=150|height=142]On Monday 29 April Transparency International launched its report Promoting Revenue Transparency – 2008 Report on Revenue Transparency of Oil and Gas Companies

The report is the result of an evaluation of 42 leading oil and gas companies operating in 21 countries on their current policies,

[img_assist|nid=343|title=|desc=|link=none|align=right|width=150|height=142]PRESS RELEASE

WASHINGTON DC AND OSLO, 13 APRIL 2008. The Extractive Industries Transparency Initiative (EITI), the global coalition for transparency in the extractive industries, supports the World Bank’s effort to extend transparency in this sector beyond revenues through its new extractive industries initiative.

In an op-ed piece in Financial Times 10 April, Paul Collier and Michael Spence write:

Any international standards for resource extraction must be voluntary. Fortunately, in this area voluntary standards have a good record. The Extractive Industries Transparency Initiative, launched in 2002 as a standard for revenue reporting, has a wide take-up. Standards provide rallying points for reformers and a benchmark for performance and promote competition between governments.

[img_assist|nid=340|title=|desc=|link=none|align=right|width=150|height=112]The Second Ministerial Conference of Energy Ministers of Africa, Latin America and the Caribbean (AFROLAC) took place in Cancun, Mexico on the 3 and 4 April 2008. The EITI Chairman Peter Eigen addressed the conference, and talked about the importance of transparency in the extractive industries. The Ministerial Declaration included a commitment to support transparency initiatives in the energy sector.

The Government of Iraq has formally committed to implement the EITI making it the single largest country in terms of proven oil reserves (11% of world’s resources) to do so. It is beginning the process to identify the stakeholders, appointing a suitable senior official to lead the implementation, and drafting a workplan for the full implementation.  The oil industry is at a critical stage in Iraq with the drafting of oil legislation for the regulation of foreign investment which will be followed by a ser

A new fact sheet in French is now available about the activities of EITI in the Democratic Republic of Congo. It can be found below.

Questions about the implementation of the EITI in DRC can be directed to Tim Bittiger at the EITI International Secretariat.

[img_assist|nid=300|title=|desc=|link=none|align=right|width=150|height=111]The report from the EITI Forum held in Kinshasa on 8-9 January has now been published. The Forum, organised by the EITI Committee of the Democratic Republic of Congo, in collaboration with the international EITI Secretariat, brought together stakeholders from all of the country to take stock of progress made with the EITI, and to discuss the way ahead for implementation.

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