International Secretariat's Eddie Rich takes us through the highs, the lows and the maybes of the EITI process in Iraq.
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
The EITI Board today (12 December) declared Iraq and Tanzania 'Compliant' with the EITI Standard. There are now 18 countries that are 'EITI Compliant'. EITI compliance means that the country has an effective process for annual disclosure and reconciliation of all revenues from its extractive sector.
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.