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
At the Iraq Compact Review Conference 29 May 2008, Iraqi Deputy Prime Minister Barham Salih said: "The Government has also committed to join the Extractive Industries Transparency Initiative (EITI)." Jonas Moberg, Head of the EITI International Secretariat, welcomed Iraq's commitment to implement the Extractive Industries Transparency Initiative, and made the following statement:
Noori Al-Maliki, Prime Minister of Iraq has announced that Iraq will hold their EITI launch conference in Baghdad on 10-11 January 2010, with the intention of assisting the country to meet its EITI candidature requirements before the Oslo Board meeting in February.
The conference agenda will include discussing and approving a Work Plan, governance of the multi-stakeholder group, and confirmation of the nomination of civil society representatives.
BAGHDAD, 10 JANUARY 2010. Noori Al-Maliki, Prime Minister of Iraq today announced Iraq’s plans to implement the Extractive Industries Transparency Initiative (EITI) at the Iraqi EITI launch conference in Baghdad. Iraq plans to become an EITI Candidate country in February.
For too long Iraq’s natural resource wealth has brought the country conflict and corruption,
Iraq has become a Candidate country within the Extractive Industries Transparency Initiative (EITI), the global standard for improved transparency in the oil, gas and mining sector. This was announced today by the EITI International Board after its meeting in Oslo earlier this week.
Iraq had at the end of 2008 115 billion barrels of proven oil reserves, making it the country with the third largest reserves in the world and 9.1% of the world’s total reserves.
The Iraq Extractive Industries Transparency Initiative (IEITI) hosted a seminar for all its oil operators and buyers in Dubai on 6-7 June. Around 20 companies from Asia, Europe, America, and Africa, participated in the seminar which, for many of them, was a first introduction to the EITI process. The IEITI will be the first to include the publication of revenues from the export sale of oil and thus engages oil trading companies in the process. The meeting also saw ExxonMobil, CNPC, and Shell,
As we approach half-way through 2010, it is proving to be as momentous for the EITI as expected. Although most of the 22 first EITI countries did not complete the validation of their EITI processes by their deadlines, eyes are now turned towards those granted short extensions to complete by September.
Countries’ efforts to meet the deadlines have led to an unprecedented level of activity to improve transparency in the extractives sector. In the past 12 months,
Iraq has disclosed detailed information about the US$ 41 billion in revenue it received from oil and gas exports in 2009. Iraq’s disclosure of the figures follows the country’s commitment to the EITI standard, the global standard for transparency of resource revenues. The revenues are published in Iraq’s first EITI Report, which detailed production figures and revenues from the sales of oil abroad in 2009.
Payments to the Kurdish Regional Government published for the first time.