PRESS RELEASE [img_assist|nid=362|title=|desc=|link=url|url=http://eitransparency.org/document/businessguide|align=right|width=106|height=150]HOUSTON AND OSLO, 12 MAY 2008. Monday Peter Eigen, Chair of the EITI (Extractive Industries Transparency Initiative) and founder of Transparency International, launched a new guide for how companies can play a integral role in helping create transparency in the extractive sector. Together with Rich Kruger, President of ExxonMobil Production Company,
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.
Nick Thomas, Director of Corporate Affairs in ExxonMobil has written a Letter to the Editor in Financial Times Friday 2 May that emphasizes that ExxonMobil has been a strong supporter of EITI from its very begining. The letter was a response to a Financial Times report on the launch of the PRT report earlier in the week.
FT.com [subscribtion needed]
[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,
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.