UK Oil and Gas – negative government revenue but rosy future

North Sea production and revenues rise for the first time in three years

The United Kingdom is the world’s 22nd largest producer of oil and gas. In addition, it produces small amounts of coal, industrial materials such as kaolin and potash, and construction materials. Overall, the extractives sector contributed a gross value-added of almost USD 30 bn to the UK economy in 2016. According to the UK Office for National Statistics, 35,500 people are directly employed in the extractives sector,

Trinidad and Tobago EITI exposes gaps in revenue collection systems

The 2016 report confirms Trinidad and Tobago’s sharp decline in extractives revenues and draws attention to areas of concern including unpaid transfer licenses fees, unpaid payments from quarries, weak auditing practices in companies and government agencies, and poor production data.

Decline in revenues stresses the need for optimal revenue collection

On 11 May,

Albania: Facts over rumours in the extractives

Establishing an evidence-based approach to reforms, in a land where rumours are rife.

In Albania, citizens are unaware of how much extractive companies have been paying and contributing to local communities.

EITI reporting revealed local government units (LGUs) have often not been receiving their statutory share of royalties. In the past,

Reports, recommendations, reforms: How the EITI is improving PNG’s natural resource management  

Photo: Head of Papua New Guinea EITI Mr Lucas Alkan (right) being presented a gift by the leader of a civil society organisation in East Sepik Province after completion of an EITI Awareness Roadshow in the capital, Wewak in November last year.

Before Papua New Guinea signed up to implement the EITI Standard in 2013, there was no framework in place for disclosure of revenue streams from the country’s mining and petroleum sector.