ExxonMobil Increases Estimate for Guyana’s Stabroek Block to 4 Billion Barrels (Exxonmobil)
Evaluation supports third phase of development; additional two phases under consideration with potential to produce over 750,000 barrels per day. Read more.
Africa's richest man arranges $4.5 bln of financing for oil refinery (reuters.com)
LAGOS, July 24 (Reuters) - Africa’s richest man, Aliko Dangote, has arranged more than $4.5 billion in debt financing for his Nigerian oil refinery project and aims to start production in early 2020, he told Reuters. Read more.
African Anti-Corruption Day is a call to action (www.theguardian.com)
The absence of accountability has allowed people to steal with impunity, making Africans poor when they should be rich. Muhammadu Buhari. Read more.
Freeport to cede control of Indonesian copper mine in $3.9 billion deal (reuters.com)
Freeport-McMoRan Inc said on Thursday it will sell a majority stake in the world’s second-biggest copper mine to the Indonesian government, seemingly ending a long-running dispute via a series of complex deals worth $3.85 billion (£2.91 billion).Wilda Asmarini, Bernadette Christina Munthe, Susan Taylor. Read more.
Guinea to Host the AU’s African Minerals Development Center (resourcegovernance.org)
Guinea will host the headquarters of the African Minerals Development Center (AMDC). This is an outcome of the 31st Summit of the Heads of States and Governments of the African Union (AU) held in Mauritania, from 25 June to 2 July. Created in 2013, AMDC is the African Union’s specialized institution that implements the Africa Mining Vision (AMV), developed in 2009 for “a transparent, equitable and optimal exploitation of mineral resources to underpin broad-based sustainable growth and socio-economic development” by 2050. NRGI. Read more.
Glencore: an audacious business model in the dock (www.ft.com)
Will a US probe into possible bribery and corruption force one of the world’s biggest mining and trading groups to rein in its risk-taking culture? Read more.
The U.S.-Mexican Oil And Natural Gas Alliance Will Remain Strong (globalenergyworld.com)
First off, congrats to Andres Manuel Lopez Obrador (AMLO) for easily winning the Mexican presidential election on July 1. He will serve one six-year term. Also, a quick shout-out here to the U.S. Energy Information Administration for its publicly available graphics. Read more.
Beyond Waziri’s Recipe For Poverty Alleviation (independent.ng)
Observers were shocked at a news report by the Brookings Institution data from the World Poverty Clock, stating that the poverty level in Nigeria has been on an unprecedented increase, with 87 million people living in extreme poverty, signifying that six people go into poverty every minute in the country. The report further reveals that poverty growth in Nigeria seems to be the highest in the world at the moment considering that India which, hitherto, was the highest is witnessing a sharp decline in its poverty level. Read more.
Glencore Drops After U.S. Orders Documents in Corruption Probe (www.bloomberg.com)
Glencore Plc tumbled the most in two years as U.S. authorities demanded documents relating to possible corruption and money laundering. Read more.
Philippine miners call for end of ban on big new projects (uk.reuters.com)
MANILA (Reuters) - Philippine miners are urging the government to lift a six-year ban on new large-scale mining projects in the world’s No. 2 nickel ore supplier after the state removed restrictions on fresh smaller ventures. Read more.
Mining Investors Spooked as African Dispute Payments Multiply (www.bloomberg.com)
Miners across Africa are increasingly using one-time payments to settle disputes with governments, a trend that’s disturbing some investors. Read more.
Panama Papers firm did not know who 75% of its clients were (www.theguardian.com)
The offshore firm at the heart of the Panama Papers leak did not know who as many as three-quarters of its clients were at the time of the exposé, according to an investigation. Read more.
Lithium and cobalt: A tale of two commodities (www.mckinsey.com)
What does the rise of electric vehicles mean for two critical raw materials that go into their batteries—and for the players in this ecosystem? Read more.
The country that wasn’t ready to win the lottery (foreignpolicy.com)
Amid the narrow streets and rusty docks of Georgetown, the quiet capital of Guyana, the first signs of an oil boom are visible. Steel pipe destined for deep-water projects can be seen stacked on wharves near the city center. Over at the Marriott, the country’s only five-star hotel, the bar fills up throughout the day with Brazilian oil workers and American contractors. Boats embark from a new depot on the Demerara River, ferrying supplies to oil projects hundreds of miles from the coast. Read more.
Angola's top diamond mine says underpricing has cost it almost $500 mln (af.reuters.com)
Angola's Catoca, the world's fifth largest diamond mine, estimates it lost $464 million over the past six years due to a government-imposed marketing system that obliged it to sell production below international prices, a company presentation seen by Reuters showed. Read more.
Glencore and Gécamines settle fight that put a quarter of global cobalt supply at risk (www.businesslive.co.za)
Democratic Republic of Congo state miner Gécamines will drop legal proceedings to dissolve a copper and cobalt joint venture with a subsidiary of Glencore, after reaching a settlement with its partner that includes Gécamines getting a $150m payment. Read more.
NEITI: Nigeria, Not IOCs, Guilty of Delayed Review of 1993 Oil PSCs Terms (www.thisdaylive.com)
The Nigeria Extractive Industries Transparency Initiatives (NEITI) on Thursday said it was Nigeria and not the International Oil Companies (IOCs) operating in the country that should be held responsible for the delay or lack of review of the terms contained in the 1993 crude oil Production Sharing Contracts (PSCs) both parties signed. Read more.
ExxonMobil and Chevron accused over tax secrecy (www.ft.com)
A refusal by US oil companies including ExxonMobil and Chevron to disclose their US tax payments is undermining the international effort to fight corruption in natural resources industries worldwide, according to transparency campaign groups. Read more.
Kenyatta flags off Kenya's first crude oil export (www.theeastafrican.co.ke)
Kenya’s ambition to become one of the global oil producers was boosted Sunday after the flagging off of transportation of the first oil barrels. President Uhuru Kenyatta led a host of local leaders to celebrate the feat that enabled the country to join Uganda as the only two oil-producing nations in East Africa. Read more.
Reform of the extractive industries. Life-hacks from Mongolia / Реформа видобувних галузей. Лайфаки від Монголії (ukr.lb.ua)
Today the Service central communications briefing was held with the participation of the Head of the International Secretariat of the Extractive Industries Transparency Initiative Jonas Moberg and members of the National Stakeholders Council of the Republic of Kazakhstan: / Сегодня в Службе Центральных Коммуникаций состоялся брифинг с участием Главы Международного Секретариата Инициативы прозрачности добывающих отраслей Йонаса Моберга и членов Национального Совета Заинтересованных Сторон Республики Казахстан. Read more.
Pioneering oil and gas work begins offshore Lebanon (www.upi.com)
The first effort to pull oil and gas from the waters off the coast of Lebanon began Tuesday, less than a year after bids, the country's energy minister said. Read more.
Instilling accountability in NNPC (www.thisdaylive.com)
In response to the huge amount of money being illegally deducted by the Nigerian National Petroleum Corporation (NNPC) as a first-line charge from the federation account, the National Economic Council (NEC), comprising the 36 state governors in the country, recently proposed taking over the responsibility for subsidising petroleum products in their states. But the real issue goes beyond subsidy payments to the absence of due process, transparency and accountability in the management of the NNPC, an agency of government notorious for corruption and opacity. Read more.
In Blow to Saudi Arabia, Iraq and Iran Swap Kirkuk Oil (www.haaretz.com)
Iraq and Iran have begun exchanging crude oil, the Iranian oil ministry's news agency SHANA said on Sunday, in a deal that will position Tehran to expand its interests in its most important Arab ally in the face of growing pressure from Washington. Read more.
OPEC and Allied Producers Have Already Cleared Oil Surplus (www.bloomberg.com)
OPEC and allied oil producers including Russia concluded that the crude market re-balanced in April when their output cuts achieved a key goal of eliminating the global surplus. Read more.
Conflicts of interest exposed by #westafricaleaks underscore need to rein in anonymous company ownership (www.transparency.org)
Stories published as part of the #WestAfricaLeaks project by the International Consortium of Investigative Journalists (ICIJ) and Cell Norbert Zongo for Investigative Journalism in West Africa (CENOZO) show how easy it is for corrupt public officials, money launderers and other criminals in West Africa to hide behind anonymous companies and access the global financial system. Read more.
Norway's $1 Trillion Wealth Fund Moves a Bit Closer to Oil Exit (www.bloomberg.com)
Norway’s $1 trillion sovereign wealth fund cleared a hurdle on its proposed path to exiting oil and gas stocks. The fund won support from key academics at Norway’s top universities, whose responses are part of a hearing process. But more weight will likely be given to the opinion of an expert group, which will give its view later this year before the government and parliament decide. Read more.
NRGI launches open jade data website to promote transparency (www.mmtimes.com)
The Natural Resource Governance Institute (NRGI) has launched a new website -http://openjadedata.org – which is the first ever portal to publish data related to Myanmar jade. Data based on the latest figures announced under the Extractive Industries Transparency Imitative (EITI) and Myanmar Gems Enterprise will now be available on the website, NRGI said last week. It will include data on licenses, funds channeled in to the sector as well as revenues generated. Read more.
Rio Tinto CEO Calls for 'United Nations of the Mining World' (www.nytimes.com)
Rio Tinto CEO Jean-Sebastien Jacques said resource companies needed to build "the United Nations of the mining industry" to tackle rising resource nationalism and cost inflation. Read more.
Ghana to adopt new formula for royalties in mining sector (citibusinessnews.com)
Dividends accruing to Ghana from mining activities should increase significantly with the adoption of a new formula for calculating the figure. The new system has become necessary as the country is reported to have been losing millions in revenue to the mining sector over reports of little or no profits by the mining companies. These among others are the key suggestions in the 2015 Extractive Industry Transparency Initiative (EITI) report on the oil and gas as well as the mining sector. Read more.
NEITI: FG, states, LGs shared N1.9tr in 3 months (www.dailytrust.com.ng)
The Federation Account Allocation Committee (FAAC) disbursed N1.938 trillion in the first quarter of 2018, the Nigeria Extractive Industries Transparency Initiative (NEITI) said in a quarterly review report. Read more.
Public Disclosure of Beneficial Ownership: Do the Naysayers Have a Point? (globalanticorruptionblog.com)
Readers are no doubt celebrating the British House of Commons approval May 1 of legislation making it harder for corrupt officials to hide money offshore. The new law requires that, starting 2021, the British Virgin Islands and the Cayman Islands along with other U.K. overseas territories must publicly disclose the actual person or persons – the “beneficial owners” – of companies organized under their laws. Read more.
MPA welcomes publication of third UK EITI report (www.agg-net.com)
AS a supporter of the UK Extractive Industries Transparency (EITI) initiative, which was launched by the then Prime Minister, David Cameron, in 2013, the Mineral Products Association (MPA) has welcomed publication of the third UK Extractive Industries Transparency Report. Read more.
The dangers of Iraq’s oil law (www.ft.com)
In many ways Iraq’s oil industry is a success story. After decades of isolation, oil production has risen by more than 75 per cent since 2013 to almost 4.5m barrels a day and, despite conflicts with the Kurds and Isis, security has been maintained and exports steadily increased. There are plans for a further rise in output to more than 6m b/d. Read more.
Offshore secrecy: inside the movement to crack it open (www.theguardian.com)
UK’s decision to force overseas territories to abolish corporate secrecy is big step in effort to end money laundering. When British MPs moved this week to force Britain’s Overseas Territories to abolish corporate secrecy by the end of the decade, it was a big moment for anti-corruption campaigners everywhere. Read more.
Transparency in mining is a challenge, says EITI chief (www.cnnmoney.ch)
Executive Director of the EITI, Jonas Moberg, says the move to reduce corruption between resource-rich countries and trading partners is a complex one. Moberg told CNNMoney Switzerland that "stamina and daring" is required in countries such as the Democratic Republic of Congo, where an increasing demand for cobalt has business partners at a crossroads in terms of transparency as well as labor issues. Read more.
Special Report: Investing in Senegal (www.ft.com)
The ambitious Emerging Senegal Plan aims for middle-income status by 2035, with investment in energy and infrastructure, business reforms and attempts to reduce poverty. This report includes the surge in FDI from the east, tech entrepreneurs, tourism, oil and gas and an interview with Wari money transfer chief Kabirou Mbodje. Read more.
Government wants small-scale mines included in PH-EITI (business.mb.com.ph)
The national government is proposing the inclusion of small-scale mining operations in the Philippine Extractive Industries Transparency Initiative (PH-EITI) to better gauge the sector’s contribution to the country’s economy. Read more.
Commodity trader Gunvor signs up for transparency programme (www.ft.com)
Gunvor Group has become the second commodity trader to join the Extractive Industries Transparency Initiative, a voluntary disclosure programme and at improving transparency and rooting out corruption in the resources sector. Read more.
African nations slipping into new debt crisis (www.ft.com)
IMF urges more taxes to help pay interest that has hit levels not seen for 18 years. Sub-Saharan Africa is slipping into a new debt crisis, with 40 percent of the region’s countries now at high risk of debt distress — double the proportion of five years ago. Read more.
Washington joins Azerbaijan to undercut a transparency initiative (eurasianet.org)
Campaigners were joyous nine years ago when Azerbaijan became the first country to comply with strict new, voluntary standards for cutting corruption in its booming oil and gas sector. Yet last March, Baku withdrew from the Extractive Industry Transparency Initiative, with no apparent impact on foreign investments, raising questions about the initiative’s clout. Soon after, Washington followed. Read more.
Where is the Oil Industry Heading? - RAW Talks with Carole Nakhle (www.rawtalks.org)
Always central to global growth, and always volatile, the oil industry is facing transformation. Carole Nakhle, a prominent energy economist, explores the fundamental developments shaping the oil industry today, including the shale oil revolution and the upcoming transition to a low-carbon future. See the video.
When a reporter is murdered, we must take over their investigation (www.theguardian.com)
Over the past six months 45 journalists from 15 different countries have been working in secret to complete and publish investigations by the Maltese journalist Daphne Caruana Galizia, who was killed on 16 October 2017. (…) The 45 journalists who collaborated on the Daphne Project, including reporters from the Guardian, have one clear goal: to inform the public about corruption and money-laundering in Malta, within the European Union, drawing on evidence that Daphne Caruana Galizia courageously revealed over the course of 30 years. Read more.
Exxon sparks IMF concern with weighty returns in tiny Guyana (www.bloomberg.com)
Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play, that the tiny South American country should rewrite its tax laws, the International Monetary Fund said. Read more.
Ghana Leads Nigeria in Resource Governance Ranking (allafrica.com)
Nigeria scored 42 out of 100 points and ranks 55 among 89 assessments in the 2017 Resource Governance Index (RGI), while Ghana's oil and gas sector scored a satisfactory 67 of 100 points, making it the best performer in sub-Sahran Africa. Read more.
Bahrain strikes its biggest oil field, dwarfing current reserves (www.theguardian.com)
Find has substantial reserves of light crude and natural gas, says Kingdom’s oil minister. The “highly significant” oil and deep gas resource is thought to dwarf the Gulf kingdom’s current reserves, according to an official announcement on Sunday. Read more.
Women are Joining Artisanal Mining in Zimbabwe (www.africa.com)
Mining in Zimbabwe has been largely a men’s affair, but women are slowly making inroads in the sector. Despite the rudimentary methods still used in artisanal mining, women are now wielding picks and shovels alongside men as they scavenge for valuable minerals. Read more.
Oligarchs hide billions in shell companies. Here's how we stop them (www.theguardian.com)
The Panama Papers have helped tax authorities recover over $500m around the world. Property registries could ensure that even more is recovered. Read more.
Project will trace metal from artisanal mines in effort to clean up supply chain (www.ft.com)
A pilot scheme to trace the world’s first “ethical cobalt” from small-scale mines in the Democratic Republic of Congo all the way to consumers of electric cars and iPhones will start this week, potentially allowing companies such as Apple to assure customers their products are free from child labour and other human rights abuses. Read more.
What makes an accountable state-owned enterprise? (www.brookings.edu)
It is no accident that state-owned enterprises (SOEs) have been at the center of many of the world’s biggest corruption scandals—from Brazil’s “car wash” money laundering scandal involving Petrobras to devastating mining deals in the Democratic Republic of Congo. Read more.
After Panama Papers, Indonesia urges beneficial owners to come out of hiding (www.icij.org)
Indonesia beefed up corporate transparency standards this month with a decree that will require all companies to regularly disclose their true, beneficial owners – not just their legal representatives – to authorities. Read more.
The petroleum legislative framework for Lebanon (www.executive-magazine.com)
Now that Lebanon has signed the first two exploration and production agreements (EPAs) for offshore oil and gas, companies will prepare the groundwork to start drilling at the beginning of 2019. Read more.
Fears over future market crash stalk Norway’s $1tn oil fund (www.ft.com)
In 2008, as the global financial system crashed, the investment portfolio of Norway’s oil fund had its worst year ever, yet the sovereign fund managed to increase in size. Read more.
Will Buhari Win Anti-Graft War In Oil Industry? (independent.ng)
Lagos – Six months after he was sworn-in as the democratically-elected President in 2015, Muhammadu Buhari sought the support of Commonwealth leaders to help nip in the bud corruption in the nation’s oil and gas sector. Read more.
DRC government to clarify mining code (www.miningreview.com)
On 7 March 2018, a meeting took place between His Excellency President Joseph Kabila Kabange of the DRC and representatives of the mining industries at their request. The purpose of the meeting was to clarify certain aspects of the new DRC Mining Code adopted by the two chambers of the Congolese parliament, which will be promulgated soon. Read more.
Mining arm of Steinmetz business empire falls into administration (www.ft.com)
The mining arm of Israeli tycoon Beny Steinmetz’s business empire has gone into administration in the face of legal battles stemming from allegations that it orchestrated a bribery scheme to win a prized prospect in west Africa. Read more.
Nigeria State Oil Company Hasn't Explained Missing Billions (www.bloomberg.com)
An agency tasked with cleaning up Nigeria’s murky oil industry says even though financial accountability has improved the state oil company still hasn’t explained billions of dollars of missing revenue. Read more.
Reinfeldt efterlyser mer etik i gruvindustrin / Reinfeldt calls for more ethics in the mining industry (www.dn.se)
Sveriges tidigare statsminister Fredrik Reinfeldt vill se ökad etik och öppenhet inom den internationella gruvindustrin. Han förespråkar också mer rättvis fördelning av vinsterna från gruvorna. Det säger han i en intervju om sitt nya uppdrag som ordförande för ett globalt initiativ för ökad hållbarhet i olje-, gas- och gruvindustrin. / Sweden's former prime minister Fredrik Reinfeldt wants to see increased ethics and openness in the international mining industry. He also advocates more fair distribution of the profits from the mines. This he says in an interview about his new mission as chairman of a global initiative for increased sustainability in the oil, gas and mining industries. Read more.
Kazakhstan makes ‘meaningful progress’ in extractive industry transparency, report suggests (astanatimes.com)
The Extractive Industries Transparency Initiative (EITI) determined Feb. 13 that Kazakhstan has made meaningful progress overall in implementing the EITI Standard. The decision was made based on the validation process conducted by the EITI starting from July 1, 2017. Validation is the EITI’s independent evaluation mechanism that assesses countries against progress made in meeting the EITI Standard and results in a Board decision on each country. Read more.
Cameroon: Investor Incentives In Focus As Cameroon Launches Oil And Gas Bidding (www.mondaq.com)
Cameroon has announced a bidding process pertaining to licensing rights for oil and gas blocks located in the Rio del Rey and Douala/Kribi-Campo Basins. Read more.
Glencore, banks and Chad reach deal on $1 bln-plus oil-backed loan (www.reuters.com)
Glencore and four bank lenders have reached a deal with Chad on the restructuring of an oil-backed loan of more than $1 billion after months of often-fraught negotiations, the two parties said on Wednesday. Read more.
How NEITI can help Nigeria recover billions of Naira unremitted revenue (www.premiumtimesng.com)
A constitutional lawyer, Femi Falana, has proffered ways the Nigerian Extractive Industries Transparency Initiative, NEITI, can help recover unremitted revenues due the Nigerian government as highlighted in its oil and gas audit report. Read more.
A bad year for oil and gas transparency, watchdog says (www.upi.com)
From the mixing of U.S. policies and special interests, to backing away from transparency in oil and gas, it's been a "very bad year," a watchdog group said. Read more.
Preventing corruption in the mining sector (www.complianceweek.com)
A new report assessing corruption risk in the mining sector explores the underlying causes of corruption and what preventative compliance measures mining companies can take to reduce such risks. Read more.
Miners open to Senate probe on disclosure of beneficial owners (business.mb.com.ph)
The Chamber of Mines of the Philippines (COMP), which is comprised of the biggest miners in the Philippines, is open to a proposed Senate inquiry that will require them to disclose who their beneficial owners are. Read more.
Ghana beats Nigeria, others, launches oil contracts register (www.dailytrust.com.ng)
While Nigeria has been trying to set up an open accessible register of oil contracts for years now, the Ghanaian government last week launched a public register of petroleum contracts, agreements, authorizations and permits in a bid to enhance transparency and accountability in the oil and gas sector. Read more.
Lebanon signs first oil, gas exploration contracts (www.xinhuanet.com/)
Lebanon officially signed Friday its first offshore oil and gas exploration and production contracts for two energy blocks with a consortium of France's Total, Italy's Eni and Russia's Novatek. Read more.
Madagascar: Entreprises minières et pétrolières - Toutes les informations sur les véritables propriétaires à divulguer selon l'EITI / Madagascar: Mining and oil companies - All the information on the real owners to be disclosed according to the EITI (fr.allafrica.com)
Les Personnes Politiquement Exposées opérant dans le secteur ou détenant une part d'actions dans une entreprise extractive doivent aussi faire une déclaration. / Politically Exposed Persons operating in the sector or holding shares in an extractive company must also disclose information. Read more.
Blockchain to track Congo's cobalt from mine to mobiles (www.reuters.com)
Blockchain is to be used for the first time to try to track cobalt’s journey from artisanal mines in Democratic Republic of Congo through to products used in smartphones and electric cars. Read more.
Time to redeem Africa from corruption (thebftonline.com)
Corruption is a major contributor to Africa’s stunted development. By corroding and weakening governance institutions and the democratic values of human rights, gender equality, justice, and the rule of law, it has hindered the continent’s progress toward peace and prosperity. Read more.
Extractive industry transparency group can't pronounce on signing bonus, coordinator says -but urges civil society to continue watchdog role (www.stabroeknews.com)
National Coordinator of the Guyana Extractive Industry Transparency Initiative (GY-EITI) Dr. Rudy Jadoopat says that while the body will not be making any statement on the controversial signing bonus that the government received from ExxonMobil, it is encouraging civil society to continue to watchdog the sector. Read more.
Ivory Coast mining sector turnover rose 11.5 pct in 2017 (af.reuters.com)
Ivory Coast’s mining sector turnover rose by 11.5 percent in 2017, an increase achieved mainly via exports of gold, manganese and nickel, the government spokesman said on Wednesday. Read more.
The World Bank is no longer supporting the oil and gas industries (www.businessinsider.com)
The World Bank is starting to phase out its support for the oil and gas industries. The move is part of efforts to address climate change and reinforce the Paris Climate agreement. It also suggests that the Bank intends to play a leading role in the battle against climate change as the US turns its back on global environmental leadership. Read more.
Guyana EITI Secretariat will be fully operational in 2018 – Natural Resources Minister (www.kaieteurnewsonline.com)
The Secretariat for the Guyana Extractive Industries Transparency Initiative (EITIT) is expected to be fully operationalised this year. This was confirmed recently by Natural Resources Minister, Raphael Trotman. Read more.
American withdrawal: what now for the oil industries flagship transparency initiative? (www.offshore-technology.com)
The US has taken the controversial decision to withdraw from the Extractive Industries Transparency Initiative (EITI), a global standard on accountability in the oil, gas and mining industries. Julian Turner talks to Jonas Moberg, head of the EITI International Secretariat, about the potential ramifications. Read more.
How NEITI saved extractive sector from collapse (www.newsexpressngr.com)
The Chairman of the Senate Committee on Federal Character and Inter-Governmental Affairs, Senator Tijjani Yahaya Kaura has said that the intervention of the Nigeria Extractive Industries Transparency Initiative (NEITI) in the management of Nigeria’s extractive sector has saved the sector from imminent collapse. He stated this in Abuja when NEITI appeared before the committee to defend its 2018 budget proposal. Read more.
Normes EITI - Une garantie pour l'attrait des grands investisseurs / EITI standards - a guarantee for the attraction of large investors (fr.allafrica.com)
Madagascar est encore en phase de processus de validation à la conformité aux normes EITI (Initiative pour la Transparence dans les Industries Extractives). / Madagascar is still undergoing validation process for compliance with EITI standards (Transparency Initiative Extractive Industries). Read more.
NEITI: NNPC Illegally Withholding $16bn NLNG Dividends (www.thisdaylive.com)
The Nigerian National Petroleum Corporation (NNPC) has yet to provide documentary evidence to show that the presidency actually authorised it to withhold and disburse funds paid to it as dividends by the Nigeria Liquefied Natural Gas (NLNG) Limited, the Nigeria Extractive Industries Transparency Initiative (NEITI) has said. Read more.
В 2017 году добыли рекордное количество нефти в Казахстане / In 2017, a record amount of oil was produced in Kazakhstan (www.kazpravda.kz)
В 2017 году в Казахстане добыли 86,2 млн тонн нефти, что является рекордным показателем за всю историю независимости страны. Об этом в ходе брифинга в Правительстве сообщил министр национальной экономики Тимур Сулейменов, передает Kazpravda.kz. / In 2017, Kazakhstan produced 86.2 million tons of oil, which is a record for the entire history of the country's independence. This was presented during a briefing in the Government, Minister of National Economy Timur Suleimenov said, Kazpravda.kz reports. Read more.
EITI Reports: XAF 116.8 billion in government revenues in 2016 from companies based in Kédougou, Senegal (www.lesoleil.sn)
The contribution of 17 mining and seven oil companies included in the scope of EITI reporting amounted to 118.1 billion XAF francs for the year 2015 and 116.8 billion CFA francs for the year 2016. The mining sector was the largest contributor with XAF 107.4 billion, corresponding to 92% of mining revenues. These figures were highlighted during the address by Minister Mankeur Ndiaye, Chairman of the EITI Senegal National Committee, presenting the 2015-2017 reports. Read more.
Fredrik Reinfeldt, Chairman of Extractive Industries Transparency Initiative (EITI): Disclosure is Good Protection (magz.tempo.co)
Fredrik Reinfeldt’s time in Jakarta was somewhat hectic. The Extractive Industries Transparency Initiative (EITI) chairman had to run from one venue to the next, juggling a full schedule and several meetings, including with Minister of Energy and Mineral Resources Ignasius Jonan. Read more.
Transparency call over $16.8B in Nigerian oil revenues (aa.com.tr)
Nigeria’s state-owned oil corporation did not send $16.8 billion in dividends collected in 2000-2015 to the government, a report said Friday. Calling for sweeping reforms in the oil sector, the Nigeria Extractive Industries Transparency Initiative said the Nigerian National Petroleum Corporation (NNPC) received $1.07 billion in dividends, interest and loan repayments from Nigeria Liquefied Natural Gas Limited in 2015 alone. Read more.
Industries extractives: près de 900 milliards de F générés / Extractive industries: nearly 900 billion francs generated (www.cameroon-tribune.cm)
La signature de nouveaux contrats pétroliers, la promulgation d'un nouveau code minier sont entre autres éléments issus du rapport 2015 présenté jeudi dernier à Yaoundé. / Signing new oil contracts, the promulgation of a new mining code are among other elements from the 2015 report presented last Thursday in Yaounde. Read more.
NNPC withheld $16.8bn NLNG dividend due FG in 16 years (www.abokifx.com)
The Nigerian National Petroleum Corporation (NNPC) failed to remit a total of $16.8billion it earned as dividend for its 49 percent stake in the Nigeria Liquefied Natural Gas Limited (NLNG) to the Federation Accounts in 16 years, says the Nigerian Extractive Industries Transparency Initiative, (NEITI) in its 2015 audit report released on Friday. Read more.
Malawi Has Potential in Mining Sector, Says Norwegian Church Aid (allafrica.com)
Norwegian Church Aid (NCA) has said Malawi has the potential in the mining industry that could easy translate into the sustainable development of the country. Read more.
Exxon confirms US$18m bonus - defends conduct (www.stabroeknews.com)
ExxonMobil yesterday confirmed that a signing bonus of US$18M was paid into a Bank of Guyana account last year for the government and it defended its conduct. Read more.
World Bank to cease financing upstream oil and gas after 2019. (www.reuters.com)
PARIS (Reuters) - The World Bank will no longer finance upstream oil and gas projects after 2019, apart from certain gas projects in the poorest countries in exceptional circumstances, it said on Tuesday, drawing praise from environmental groups. Read more.
Zambia: Mines Compelled to Publish Production Figures Online (www.allafrica.com)
ZAMBIA has embarked on a process to immediately ensure that all mining companies publish their production volumes online so that the Zambia Revenue Authority (ZRA) can collect proper taxes. Read more.
Guyana Confirms Oil Payment From ExxonMobil. (jamaica-gleaner.com)
President of Guyana David Granger Wednesday acknowledged that American oil company ExxonMobil had paid over US$18 million as a signing bonus to his government. Read more.
United against corruption. (www.thejakartapost.com)
December 9 - Today is International Anti-Corruption Day. It's the day in 2003 that 140 countries came together to sign the United Nations Convention against Corruption. Today, people around the world are joining forces under the banner "United Against Corruption" to raise awareness and to fight this crime. Read more.
Argentina joins transparency for extractive industries. (www.argentina.gob)
The Minister of Energy and Mining, Juan José Aranguren, today expressed the intention of Argentina to join the Extractive Industries Transparency Initiative (EITI). Read more.
Shining a light on Myanmar’s wealth. (www.mmtimes.com)
The leak on November 5 of the “Paradise Papers,” a set of 13.4 million documents pertaining to offshore investments, once again shone a spotlight on opaque company structures and international financial flows. It provided further details on a global network of hidden investments and questionable payments parked in tax havens by politically connected individuals and well-known companies. Read more.
How Latin America’s Next Oil Power Can Avoid the Resource Curse (www.americasquarterly.org)
Guyana – population 1 million – could soon become a major oil player. A sovereign wealth fund will help it make the most of the opportunity. Read more.
Cameroun-ITIE : Des Rencontres d’apprentissage par les Pairs se tiennent à Yaoundé / Cameroon-EITI: Peer Learning Meetings held in Yaoundé (www.yaoundeinfo.com)
Ces Rencontres d’apprentissages par les Pairs pour les pays francophones d’Afrique se sont ouvertes le 28 novembre 2017 en présence du Ministre Camerounais des Finances Alamine Ousmane Mey, du chef adjoint du secrétariat international de l’ITIE, Eddie Rich ainsi que du Directrice des operations de la Banque Mondiale au Cameroun, Elisabeth Huybens. 13 pays du continent prennent part à ces Rencontres d’Apprentissage qui s’achèvent le 30 novembre. Read more.
Parliament Approves Proposal to Ensure Transparency in Extractive Industries (www.irrawaddy.com)
Myanmar Lower House of Parliament on Thursday approved a proposal to ensure transparency in the country’s extractive industries and transfer back the gross revenues of the enterprises under the Ministry of Natural Resources and Environmental Conservation into the Union budget. Read more.
Students create an "Android" application for all information on the extractive industries / Des étudiants créent une application «Androïd» pour toutes les informations sur les industries extractives (lecalame.info)
Five students from the Faculty of Science and Technology at the University of Nouakchott have developed an Android application to quickly obtain all the information on the revenues generated by the extractive industries in Mauritania. The presentation ceremony of the new computer tool took place Tuesday, at the headquarters of the National Committee of Initiative for the Transparency of Extractive Industries (CNITIE). Read more.
Nigeria Earned N69.2bn from Solid Minerals Sector in 2015, Says NEITI (www.thisdaylive.com)
Nigeria earned N69.2 billion from the solid minerals sector in 2015, an increase of 24% on the N55.8 billion earned from the sector in 2014. This information is contained in the latest independent audit report of the Nigeria Extractive Industries Transparency Initiative (NEITI) released sunday, following the approval of the report by the National Stakeholders Working Group, which is the board of NEITI, according to a statement by Director, Communications and Advocacy, Mr. Orji Ogbonnaya Orji. Read more.
Trafigura reveals $22bn of payments to state oil companies (www.ft.com)
Trafigura, one of the world’s largest independent oil traders, has provided further detail on the scale of its business with national oil companies, revealing $22bn of deals with state-controlled producers in 2016, an almost 60 per cent increase from a year earlier. Read more.
Le Niger se retire de l'ITIE après sa suspension / Niger withdraws from EITI after suspension (www.bbc.com)
Le Niger s'est retiré de l'Initiative pour la Transparence des Industries Extractives (ITIE) qui l'avait "suspendu" fin octobre "pour progrès insuffisants". Read more.
Prospects For Guyana After Oil Bonanza (www.jamaica-gleaner.com)
Today, Guyana is one of South America's poorest countries, with an average per capita annual income of around US$4,000. But within the decade, it could be among the richest. In 2015, ExxonMobil and its international partners discovered vast oil reserves off the Caribbean coast of this small country. By 2018, five new wells will be pumping out 120,000 barrels of Guyanese crude daily. Read more.
Roads to riches (himalmag.com)
With natural resources at the country’s hilly edges and infrastructure spreading from the central plains, Myanmar eyes a federal bargain. (…) Along with greater interconnectedness among different ethnic stakeholders, and bargaining with the Tatmadaw, there is also the pressure to stamp out corruption and bring dark deals to the light of day. Read more.
How Trump Is Quietly Dismantling the Architecture of Global Governance. (www.newyorker.com)
For a long time, the U.S. has seen Azerbaijan, the oil-and-gas-rich, human-rights-poor former Soviet Republic, in much the same way that Allen and John Foster Dulles saw the entire world in the nineteen-fifties. For the brothers—one running the C.I.A., the other running the State Department—the rest of the globe was infinitely malleable around the interests of the U.S. Read more.
Saudi officials warn they have the powers to freeze assets. (www.ft.com)
Saudi officials have warned that the sweeping anti-corruption crackdownallows them to freeze the accounts and assets of suspects, saying initial evidence revealed “widespread corruption in a number of cases”. Read more.
Mankeur Ndiaye, président du comité national ITIE : « Positionner l’Itie comme plateforme multiactorielle d’impulsion des réformes de la gouvernance du secteur extractif » / Mankeur Ndiaye, chairman of the EITI national committee: "Positioning EITI as a multi-stakeholder platform for boosting extractive sector governance reforms" (www.lesoleil.sn)
Former Minister of Foreign Affairs, Mankeur Ndiaye is now responsible for sustaining the achievements of the EITI National Committee which, in four years, under the leadership of Professor Ismaëla Madior Fall, has achieved results that make Senegal an example in the implementation of this standard. The challenges facing him are many but the former head of Senegalese diplomacy seems determined to meet with his team. Read more.
Paradise Papers leak reveals secrets of the world elite's hidden wealth. (www.theguardian.com)
Files from offshore law firm show financial dealings of the Queen, big multinationals and members of Donald Trump’s cabinet. Read more.
U.S. withdraws from extractive industries anti-corruption effort. (af.reuters.com)
The United States has withdrawn from the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in managing revenues from oil, gas and mineral extraction. Read more.
Acacia Mining management quits as Tanzania dispute drags on. (www.telegraph.co.uk)
Acacia Mining’s chief executive and chief financial officer have quit the company after a bitter dispute with the government of Tanzania took its toll. Read more.
Labor plans to force Australian mining companies to disclose taxes paid overseas (www.theguardian.com)
A Shorten Labor government would force Australian mining companies working overseas to disclose the taxes they are paying to foreign governments to extract their minerals. Read more.
Jakarta hosts Global Conference on Beneficial Ownership Transparency. (www.jakartapost.com)
Jakarta recently hosted an international meeting named Global Conference on Beneficial Ownership Transparency at Fairmont Hotel on Oct. 23-24. Read more.
Osinbajo: Nigeria Still Grappling with Consequences of Malabu Oil Scandal. (www.thisdaylive.com)
Vice-President Yemi Osinbajo on monday in Jakarta, Indonesia, said Nigeria was yet to overcome the consequences of the shady award of OPL 245 to Malabu Oil and Gas Limited in 1998. Osinbajo made the remark while addressing the conference on beneficial ownership organised by the Extractive Industries Transparency Initiative (EITI). Read more.
EBRD to lend $500m for Azerbaijan gas pipeline. (www.ft.com)
The European Bank for Reconstruction and Development has approved crucial $500m financing for a pipeline to bring Azeri gas from the Caspian Sea to the EU, despite questions about Azerbaijan’s record on corruption and democracy. The bank’s board approved the loan on Wednesday to a mostly Azeri-owned consortium building the Trans-Anatolian Pipeline, or Tanap. The project is the central link in the so-called Southern Gas Corridor aimed at reducing Europe’s reliance on Russian gas. Read more.
Jonas Moberg: "You have to turn transparency into reform". / Йонас Моберг: "Ви маєте перетворити прозорість на реформу". (www.dt.ua)
The head of the EITI secretariat - on the transparency of the extractive industries, the practical implementation of this Initiative and the value for each citizen / Голова секретаріату EITI — про прозорість видобувних галузей, практичне втілення цієї Ініціативи і значення для кожного громадянина. Read more.
“Transparency is critical” to Exxon operations. (guyanatimes.com)
…Director says as oil company builds base in Guyana. ExxonMobil believes that the Extractive Transparency Initiative (EITI) would alleviate the suspicions that currently exist among Guyanese about its operations. Exxon’s Public and Government Affairs Director, Kimberly Brasington, believes that transparency is “critical” as the company builds a base here in Guyana. Read more.
Adio: Nigeria does not have independently verifiable metering infrastructure for oil production figures. (www.thisdaylive.com)
Nigeria’s extractive industry, over the years, has not been able to deliver the benefits to the people deservedly, owing to its opacity and corruption. However, the advent of NEITI has changed the narrative, opening up the industry and enforcing disclosures, but a lot of grounds still need to be covered. Read more.
Lebanon gets only two bids for offshore gas exploration even though 51 companies qualified. (www.yalibnan.com)
Lebanese ambitions to draw investors to its offshore reserve potential, notably for natural gas, brought in only two bids, the government reported. Read more.
Councils challenged to prudently use royalties from mines. (www.lusakatimes.com)
Zambia Extractive Industries Transparency Initiative (ZEITI) has urged local authorities to disclose revenues collected from mining companies in order to foster accountability with the communities. Read more.
Reinfeldt: "Regeringar måste stå till svars inför sina befolkningar” / Reinfeldt: «Governments must answer to its people» (www.omvarlden.se)
There is a lot of money that disappears in the oil, gas and mining companies' backwater. Now the former prime minister is taking up the fight against corruption. Read more.
Nigeria Recovers $3bn Unpaid Oil Monies, Says NEITI. (www.thisdaylive.com)
The total amount of unpaid oil and gas monies that Nigeria’s government has recovered using audit reports of the Nigeria Extractive Industries Transparency Initiative (NEITI) has hit $3billion, the Executive Secretary of NEITI, Mr. Waziri Adio has disclosed. Read more.
Britain risks failing anti-corruption test. (thetimes.co.uk)
The government faces embarrassment over its anti-corruption record after campaign groups walked out of a UK-led scheme to promote transparency in poorer countries. The walk-out threatens Britain’s validation under the Extractive Industries Transparency Initiative, a scheme that the UK itself introduced under Tony Blair to provide a template of good governance for natural resources in poor countries. Read more.
Mexico takes another step in the transparency of the mining sector / México da un paso más en la transparencia del sector minero. (expansion.mx)
'Opacity' is one of the most common words when it comes to mining operations in Mexico. But that may be behind working on the transparency of the sector. Mexico has already taken a first step in this direction: on September 1, the country presented its candidacy to the Extractive Industries Transparency Initiative (EITI). Read more.
EIB support for the Extractive Industry Transparency Initiative. (www.eib.org)
The European Investment Bank (EIB), set up to promote European Union objectives, has a mandate to support the EU’s development cooperation policies in many regions outside the EU Member States. Weak governance, corruption and lack of transparency are a major issue in some of the regions in which EIB operates and acts a serious brake on economic and social development. This is particularly crucial in the countries rich in oil and gas and mineral resources where the failure to disclose information on payments and revenues can lead to a misuse of resources. Read more.
Norway’s oil fund tops $1tn in assets for first time. (www.ft.com)
Norway’s oil fund, the world’s largest sovereign wealth fund, has topped $1tn in assets for the first time in its history. The oil fund, which started in 1996, reached NKr7,811bn ($1.001tn) in market value on Tuesday. Officials confirmed it was the first time it has breached the trillion-dollar barrier. Read more.
$21.8bn unremitted funds: Nigeria lost the size of 2017 budget to NNPC. (www.tribuneonlineng.com)
On April 4, 2017, the Nigerian Extractive Industries Transparency Initiative (NEITI) dropped a bombshell. The Nigerian National Petroleum Corporation (NNPC) had failed to remit over $21.8 billion (about N7.2 trillion) into the Federal Government account. The unremitted N7.2 trillion is the total value of the 2017 at N7.298 trillion, Nigeria’s largest budget ever. Read more.
Brookings: Curbing corruption in extractive industry takes more than disclosure. (www.ogj.com)
Reducing government corruption will require more than simply requiring companies, particularly in extractive industries, to publicly disclose more financial and operating data, speakers agreed at a Sept. 18 Brookings Institution event. Information should be more readily available and reach people in communities that are directly affected, they said. Read more.
Global LNG giants turn to poor countries for new markets (https://www.economist.com)
Will LNG reduce energy poverty or foster a fossil-fuel addiction? To tap new markets, the gas giants need to think small, not big. They must recognize that flexibility is vital, analysts say. One way of doing this is to support the development of floating terminals, rather than fixed infrastructure, to bring gas to coastal cities. Read more.
Transparence dans les industries exractives: vers la validation définitive du Cameroun / Transparency in extractive industries - Towards the final validation of the country (https://www.cameroon-tribune.cm)
Le secrétariat international de l’institution effectuera une visite dans le pays du 2 au 6 octobre prochain.
Adhérent à l’Initiative pour la transparence dans les industries extractives (ITIE) depuis mars 2005, le Cameroun a été déclaré conforme le 17 octobre 2013. La deuxième validation, qui est une étape du processus de validation définitive du Cameroun à cette institution, est en cours depuis le 1er juillet 2017. Read more.
Missing billions: Deconstructing governance issues in NNPC. (http://www.tribuneonlineng.com)
Despite Nigeria’s resources, the independent organisation says governance challenges are evident in its extractive decision chain, especially at the Nigerian National Petroleum Corporation (NNPC), which plays a “central role in all stages of the decision chain.” Read more.
Erster Bericht zur Transparenz im deutschen Rohstoffsektor wird heute vorgestellt (http://presseservice.pressrelations.de)
First report on transparency in the German extractive sector is presented today
Die Initiative für Transparenz in der Rohstoffwirtschaft (Extractive Industries Transparency Initiative) in Deutschland (D-EITI) stellt heute im Bundesministerium für Wirtschaft und Energie ihren ersten Bericht vor. Damit erfüllt Deutschland eine weitere Voraussetzung auf dem Weg zur Vollmitgliedschaft in der internationalen Initiative. Read more.
Miners to ‘do better’ than just follow laws (http://www.manilatimes.net)
Mining companies will work on moving beyond compliance with laws and regulations in a bid to become more responsible partners of host communities and the government, an industry official said on Thursday. Ronald Recidoro, executive director of the Chamber of Mines of the Philippines, said the aim was “not just to follow the law but to do better” given pressure from no less than President Rodrigo Duterte. Read more.
Реализация ИПДО в Казахстане: прогресс и перспективы (http://www.agmp.kz)
Implementation of the EITI in Kazakhstan: progress and perspectives
В рамках форума KAZENERGY состоялась IX Национальная Конференция по развитию Инициативы прозрачности добывающих отраслей в Казахстане, в которой приняли участие депутаты Парламента РК, представители Министерства по инвестициям и развитию РК, Ассоциации горнодобывающих и горно-металлургических предприятий, ассоциации Казэнерджи, крупных компаний, работающих в сфере недропользования, неправительственного сектора, международных организаций. Темой мероприятия была «Интеграция ИПДО в государственные системы мониторинга открытых данных и бенефициарное право». Read more.
México, listo para sumarse a iniciativa sobre industrias extractivas (http://www.notimex.gob.mx)
Mexico is ready to join extractive industries [transparency] initiative
Autoridades mexicanas dieron a conocer que quedó aprobado el plan de trabajo del Grupo Multipartícipe Nacional (GNM) de la Iniciativa para la Transparencia de las Industrias Extractivas (EITI), con el cual se cumple el quinto y último requisito para presentar la candidatura del país a esa instancia. Read more.
UK at centre of secret $3bn Azerbaijani money laundering and lobbying scheme (https://www.theguardian.com)
Azerbaijan’s ruling elite operated a secret $2.9bn (£2.2bn) scheme to pay prominent Europeans, buy luxury goods and launder money through a network of opaque British companies, an investigation by the Guardian reveals. Read more.
Ministry of Finance of Republic of Indonesia : Government Improves the Revenue Sharing Fund (DBH) Transparency for Extractive Industries (http://www.4-traders.com)
One of the strategic issues for local and national development is about Revenue Sharing Fund (DBH). For many regions, the income from Revenue Sharing Fund of oil and gas, and mineral and coal, are the biggest contributor to local own-source revenue (PAD) in Local Government Budget (APBD) annually. Read more.
Economic growth through transparency (http://www.dar.org.pe)
Lima, August 1, 2017.- "Transparency is not an end in itself, but should improve accountability and combat corruption", said Jonas Moberg, head of the international secretariat of the Extractive Industries Transparency Initiative (EITI) during the public event "Bringing us closer to EITI". EITI brings together governments, companies and civil society from 52 countries, with the aim of promoting governance in the extractive sector. Read more.
New research: Corruption and civic space: Contextual factors influencing EITI compliance (The Extractive Industries and Society)
Market and government failures led to the formation of multi-stakeholder initiatives (MSIs) as an alternative governance structure. The Extractive Industries Transparency Initiative (EITI) is one of these. The impact assessments of EITI yield mixed results. The variation in impact may be attributed to the difference in compliance with the EITI Standard. The authors implemented an ordered logit regression analysis to analyze the relationship between contextual factors and countries’ level of EITI compliance. Read more.
Oil and the battle for Norway’s soul (https://www.ft.com)
About $60bn worth of oil lies under the beautiful Lofoten archipelago. That untapped wealth poses an existential dilemma for a country that has come to pride itself on climate action. Read more.
À Kinshasa, le pillage des richesses par l'État continue (http://www.lefigaro.fr)
In Kinshasa, the plunder of wealth by the State continues
Dans un rapport, l'ONG Global Witness affirme qu'au moins 750 millions de dollars de taxes ont été détournés du Trésor public de la République démocratique du Congo (RDC). Le constat a été fait des centaines de fois. Le Congo possède un sous-sol scandaleusement riche, mais le pays est scandaleusement pauvre. Read more.
EITI y OLADE intercambian información para generar acciones conjuntas (http://www.olade.org)
EITI and OLADE exchange information to generate joint actions
El pasado 19 de julio, el Secretario Ejecutivo mantuvo una reunión con las principales autoridades de la Iniciativa de Transparencia en las Industrias Extractivas -EITI- , Jonas Moberg, Jefe del Secretariado de EITI, y Francisco Paris, Director Regional para América Latina y el Caribe. Read more.
Malawi Govt to Probe Unreconciled K810mil Mining Revenue – Minister (http://allafrica.com)
Newly appointed Minister of Natural Resources, Energy and Minning, Aggrey Massi has said government will investigate the missing of about 43 percent of the total revenue Malawi government generated from the mining sector in 2014 amounting to K810 million. Read more.
1. [Guyana] Contract disclosure a major issue for citizens during consultations – Local EITI Head (http://www.kaieteurnewsonline.com)
The disclosure of the contract between the Government of Guyana and US oil giant, ExxonMobil, was one of the major issues raised during the consultations held by the Guyana Extractive Industries Transparency Initiative (GY-EITI) in recent weeks. This is according to the body’s head, Dr. Rudy Jadoopat. Read more.
2. [DRC] Distributeur automatique de billets du régime / The government’s cash machine (https://www.globalwitness.org)
Plus de 750 millions de dollars de recettes minières versés par des entreprises à des organismes étatiques en République démocratique du Congo ont échappé au Trésor public entre 2013 et 2015. Ces sommes se sont évaporées dans une société minière dysfonctionnelle détenue par l’État et des administrations fiscales nationales opaques. Read more.
3. NEITI warns Nigeria’s economic distress could persist (http://www.thisdaylive.com)
The Nigeria Extractive Industries Transparency Initiative (NEITI), on Tuesday, warned that Nigeria might continue to experience deep economic challenges unless urgent steps are taken to halt her propensity to generate and spend almost all her revenue from oil and gas with very little left for savings. Read more.
Liberia makes progress in reporting stakes despite Ebola, Mali also improving (http://www.miningweekly.com)
Liberia has undergone its first Extractive Industries Transparency Initiative (EITI) validation in terms of the EITI standard and has demonstrated “meaningful progress” despite a disruption bought about by the Ebola epidemic. Read more.
Evidence for a presource curse ? Oil discoveries, elevated expectations, and growth disappointments (http://documents.worldbank.org)
Oil discoveries can constitute a major positive and exogenous shock to economic activity, but the resource curse hypothesis would suggest they might also be detrimental to growth over the long run. This paper utilizes a new methodology for estimating growth underperformance to examine the extent to which discoveries depress the growth path of a country following a discovery and prior to production starting. Read more.
Moody: Armenian Minister Discusses Improvement of Sovereign Rating with Delegation of Moody's (http://www.4-traders.com)
Minister of Energy Infrastructures and Natural Resources of the Republic of Armenia Ashot Manukyan received a delegation of the international rating organization Moody's, headed by Matthew Srkostai, an analyst of the Investment Service of the company in Singapore. Read more.
Resource-governance index (The Economist)
Wealth does not necessarily mean good management. According to the Natural Resource Governance Institute’s index, six of the 13 high-income countries studied failed to achieve good or satisfactory ratings for the quality of their natural-resource governance. Scores are based on a framework of 133 questions, including ones on extraction rights and corruption. Read more.
Panama Papers: Germany 'pays millions' for leaked data (BBC)
Germany has paid millions of euros for the so-called Panama Papers revealing offshore tax evasion, reports say. Read more.
Mining in Mali: balancing prospects and problems (http://www.mining-technology.com)
Already a significant gold producer, Mali’s mining sector is poised for further growth after the country’s Chamber of Mines recently tripled estimates of the country’s bauxite reserves, following several new discoveries. This is good news for Mali and miners alike; yet it’s not all positive. Mali’s mining sector faces many challenges ahead – including ending child labour and improving transparency – if it is to truly prosper from its natural resources. Heidi Vella investigates. Read more.
Despite slight improvements, Nigeria’s extractive industry still very opaque – Report (http://www.premiumtimesng.com)
A report released on Wednesday has ranked Nigeria’s oil and gas and mining sectors as among the most opaque in the world. The report, which was conducted by an independent non-profit organisation, the Natural Resources Governance Institute (NRGI), ranked Nigeria 55 out of 89 countries whose viability of their extractive industries policies and practices are assessed. Read more.
[US] Congress moves to put an end to secret companies (https://www.globalwitness.org)
Today the US Senate and House of Representatives introduced bipartisan bills that would help stop the corrupt and other criminals from hiding behind anonymously-owned companies created in the US. Most major financial crimes and cases of grand corruption are facilitated through anonymous companies, with the US being one of the easiest places in the world to set one up, warned Global Witness. Read more.
The gusher in Guyana: Will oil corrupt a small Caribbean state? (https://www.economist.com)
South America'S only English-speaking country is one of its poorest. But perhaps not for much longer: Guyana has struck black gold. By 2020 ExxonMobil, the world's biggest private oil firm, expects to be pumping oil in Guyanese waters, with Hess and Nexen, its American and Chinese partner firms. In the past two years they have found reserves of around 2bn barrels. Five more promising prospects will be drilled by 2018, and then perhaps a dozen more. Guyana could be producing 120,000 barrels per day by 2020, and more than 400,000 by the mid-2020s. Read more.
Cameroun : le nouveau Code minier en application (http://www.mediaterre.org)
Cameroon: The new Mining Code enters into force
Le Président de la République vient de promulguer la loi n 2016/2017 du 14 décembre 2016 portant code minier. Attendu déjà depuis quelques années, ce texte qui abroge les dispositions de la loi n°001 du 16 Avril 2001 portant Code Minier et son modificatif n°2010/011 du 29 juillet 2010, vise la refonte du secteur minier, susceptible de contribuer au développement économique et social du pays. Read more.
Working group to improve transparency and governance in extractive industries established [in Tunisia] (http://tunisianewsgazette.com)
Minister of Energy, Mines and Renewable Energies Hela Cheikhrouhou announced on Thursday the establishment of a working group to improve transparency and governance in the extractive industries. Read more.
IMF Staff Concludes Visit to the Republic of Equatorial Guinea (http://www.imf.org)
An International Monetary Fund (IMF) staff team, led by Lisandro Ábrego, visited Equatorial Guinea from June 7-20 to initiate discussions on a possible program. Read more.
MPs in fresh push for Uganda to join EITI (http://www.newvision.co.ug)
Ugandan MPs under the Parliamentary Forum on Oil and Gas have restarted the push to have Uganda join the Extractives Industries Transparency Initiative (EITI). Read more.
Trump is pulling America back from the global fight against corruption (The Washington Post)
The United States has a president whose contempt for the well-established norms of our political system never ceases to shock the world. President Trump has refused to release his tax returns, ignoring a long-standing benchmark of financial transparency for political candidates. He has also declined to address a whole series of looming conflicts of interest resulting from his complex business empire. As a result, he now finds himself facing multiple lawsuits - including from members of Congress and the governments of Maryland and the District - on the grounds that he may have violated the foreign emoluments clause of the Constitution, which forbids U.S. officials from receiving favors from their overseas counterparts. Read more.
ITIE : Le Burkina en quête du rapport provisoire de validation (http://www.sidwaya.bf)
EITI - Burkina Faso in search of temporary Validation report
Les membres du comité de pilotage de l'Initiative pour la transparence dans les industries extractives (ITIE-BF) ont échangé, le lundi 12 juin 2017 à Ouagadougou, avec deux experts du Secrétariat international de l'ITIE venus de Norvège pour évaluer la mise en œuvre du processus par le Burkina Faso. Read more.
Hidden ownership – a particular challenge in the oil, mining and gas sectors (https://www.opengovpartnership.org)
A little over a year ago, the release of the Panama Papers implicated dozens of high-profile individuals with links to the extractive sector. A month before that, in February 2016, Extractives Industry Transparency Initiative (EITI) member countries had adopted new beneficial ownership transparency requirements mandating the publication of data similar to the data leaked in the Panama Papers, notably the identity of the owners of the world’s oil, gas and mining companies. Read more.
SWISSAID study reveals: Transparency is urgently required for Swiss commodities trading marketplace (https://www.swissaid.ch)
The new SWISSAID study on the business deals of Swiss commodities giant Glencore in Chad make it clear: non-transparency concerning oil transactions between Glencore and the corrupt government of the Central African country prevents the impoverished population from deriving any benefit from the wealth created from natural resources. The provisions on transparency for commodities trading in the new Swiss company law could solve this problem. If they fail to materialise, the planned revision of the law according to data analysis compiled by Public Eye is now already a wasted effort. Read more.
The impact of the Panama Papers on Africa (https://www.thisdaylive.com)
The Panama Papers series exposed a high number of African political and business leaders as having used Mossack Fonseca to launder money, avoid tax, conceal assets or carry out other shady deals. In my country, Nigeria, at least 120 individuals and companies were identified as having hired the Panamanian law firm to operate offshore shell companies in tax havens. The list includes some of Africa’s richest businesspersons and some of the nation’s most powerful politicians. Read more.
Ghana: Extractive Industry Initiative Gives Maiden Petrol, Mining Account in Ellembelle (http://allafrica.com)
The utilisation of mineral revenues received by the Ellembelle District Assembly of the Western Region has raised concerns among traditional leaders and citizens of the area. In particular, indications by the District Assembly that it had utilised the funds on road projects and the assembly's office complex did not go down well with some participants. Read more.
Tchad: pétrole, contrats publics et condos à Montréal (http://www.tvanouvelles.ca)
Chad: oil, public contracts and condos in Montreal
De 2012 à 2016, la belle-famille du dictateur tchadien Idriss Déby a investi avec des proches près de 8,6 M$ dans l’immobilier montréalais, à L’Île-des-Sœurs et dans Griffintown, presque toujours sans prendre de financement hypothécaire, a constaté notre Bureau d’enquête. Read more.
Женис Касымбек: «Мы готовы к диалогу на благо развития страны» (http://metalmininginfo.kz)
Zhenis Kasymbek: “We are ready for the dialogue in order to stimulate country development” [Kazakhstan]
О том, какие меры предпринимает МИР РК для модернизации реального сектора экономики, создания благоприятного инвестиционного климата в стране и в горно-металлургической отрасли в интервью корреспонденту нашего журнала рассказал Министр по инвестициям и развитию Республики Казахстан Женис Касымбек. Read more.
Så ställer Trump till det för Reinfeldt (https://www.svd.se)
How Trump is making things difficult for Reinfeldt
I en stor intervju med SvD berättar Fredrik Reinfeldt om sitt okända ordförandeuppdrag – att försöka spåra vart hundratals miljarder dollar tar vägen varje år i råvaruproducerande länder. Med Trump vid makten i USA har organisationen EITI fått tuffa utmaningar. Read more.
Ghana Revenue Authority retrieves 15 million cedis from Sinopec (http://3news.com)
The Ghana Revenue Authority has retrieved 15 million out of 40 million dollars from Sinopec International Petroleum Services Corporation, that was engaged in the construction of the gas processing plant at Atuabo. The company was found to have inflated the cost of the processing plant by about 40 million dollars. Read more.
Nigerian Senate passes oil governance bill (http://uk.reuters.com)
Nigeria's Senate passed a long-awaited oil governance bill on Thursday which the president of parliament's upper chamber said would improve transparency in the OPEC member's energy industry and stimulate growth in the sector. Read more.
Information about beneficial owners will be listed in a public register (Transparency International Ukraine)
The government supported the initiative of TI Ukraine to share information about the beneficial owners with the Global Registry. Updated and accurate data about the auditing companies available online will help to promote transparency and reduce corruption risks. The Memorandum of Understanding with a consortium OpenOwnership will be signed on May 22 at an international workshop on TI Ukraine on the recovery of stolen assets. Read more.
EITI Suspension of Kyrgyzstan and Tajikistan Tests Its Global Leverage (http://www.eurasianet.org)
With the suspension of Kyrgyzstan and Tajikistan, along with Azerbaijan’s withdrawal, the Extractive Industries Transparency Initiative (EITI) finds itself at a critical juncture. Read more.
Nigeria's NNPC finalising $6 bln worth of oil-for-product swaps (Reuters)
London, May 18 Nigeria's state oil company is in the final stage of signing $6 billion worth of deals to exchange more than 300,000 barrels per day (bpd) of crude oil for imported gasoline and diesel, sources with direct knowledge of the process told Reuters. Read more.
Why Lebanon produces no oil (The Economist)
Last week the Lebanese government announced the final list of companies eligible to bid for its first-ever round of licensing for oil and gas exploration and production, which is due to start in September. Saddled with debt greater than 140% of GDP, Lebanon could do with the revenue it would receive from exploiting its offshore hydrocarbon reserves, estimated at 850m barrels of oil and 96trn cubic feet of gas. Yet it lags behind neighbouring Israel, Cyprus and Egypt in tapping the deposits. While the existence of large fields in the eastern Mediterranean has been known since 2009, Beirut has yet to start drilling for the black stuff. Why is Lebanon taking so long to join the ranks of oil-producing nations? Read more.
Україна та Німеччина обмінялися досвідом з впровадження ІПВГ та окреслили плани щодо подальшої співпраці між українськими та німецькими членами Багатосторонньої групи (http://mpe.kmu.gov.ua)
Ukraine and Germany shared experience on EITI implementation and outlined plans for further cooperation between Ukrainian and German MSGs
Українська делегація, яку представляли члени Багатосторонньої групи зацікавлених осіб з імплементації Ініціативи прозорості видобувних галузей на чолі з заступником Міністра енергетики та вугільної промисловості України з питань європейської інтеграції Наталією Бойко взяли участь у робочому візиті до Німеччини на запрошення німецького Секретаріату Ініціативи прозорості видобувних галузей. Read more.
Dossier – Émeutes de Boké – Guinée : Radioscopie d’une politique minière empreinte de corruption (http://guineenews.org)
Boké Riots – Guinea: analysis of a mining policy tainted with corruption
Pour mieux comprendre la situation de précarité des habitants de Boké qui a conduit à la violence dans cette région ces derniers temps, Guinéenews a consulté des documents officiels issus de l’exploitation minière et a interrogé quelques citoyens de la ville pour mieux affiner ses analyses. Read more.
EBRD Pushes on With Azerbaijan Gas Loan After Transparency Rift (Bloomberg)
The European Bank for Reconstruction and Development is pushing ahead with plans to lend $500 million to Azerbaijan’s Southern Gas Corridor project after the nation was suspended from an international oil-wealth transparency watchdog. Read more.
Mining contractors must comply with PH-EITI disclosure requirements (http://business.mb.com.ph)
All mining contractors are now mandated to comply with the disclosure requirements of the Philippine Extractive Industries Transparency Initiative (PH-EITI), a statement from Mines and Geosciences Bureau (MGB) said. Read more.
Рамазан Жампиисов: «ИПДО логично дополняет изменения в казахстанском законодательстве» (http://metalmininginfo.kz)
Ramazan Zhampiisov: "EITI logically complements changes in the legislation of the Republic of Kazakhstan"
Двенадцать лет прошло с момента принятия Правительством РК обязательств по реализации инициативы прозрачности. За это время проделана большая работа по приведению финансово-экономической отчетности к нынешнему уровню, обеспечению продвижения инициативы в регионах станы, совершенствованию законодательства в энергетике и недропользовании. Read more.
В Душанбе обсудили вопросы открытости данных в добывающем секторе (https://news.tj)
Open data in the extractive industry was discussed in Dushanbe
Вопросы открытости данных в горнодобывающей отрасли Таджикистана, стандарты Инициативы прозрачности в добывающих отраслях (ИПДО) и дальнейшая работа Коалиции гражданского общества «Прозрачность для развития», были обсуждены 25-27 апреля в Душанбе в ходе рабочей встречи и тренинга. Read more.
Nordea's Sasja Beslik joins World Economic Forum’s Expert Network (https://www.nordea.com)
Sasja Beslik, Head of Sustainable Finance at Nordea, has been selected to join the World Economic Forum’s Expert Network, which brings together more than 5,000 world-leading experts. Read more.
CEMAC : Société civile et contrôle citoyen de l’action civique examiné à Libreville
CEMAC: Civil society and citizen control of civil action examined in Libreville
La 2ème session de formation des Organisations de la société civile (OSC), membres des comités ITIE de la zone Cemac (Gabon et Guinée Equatoriale), s'est ouverte le 24 avril 2017, sous le thème "Société civile et contrôle citoyen de l’action civique". Read more.
Steve Ballmer Serves Up a Fascinating Data Trove (The New York Times)
Guess what Steven A. Ballmer has been up to for the last several years. (No, not just cheering for the basketball team he owns, the Los Angeles Clippers.) It’s a novel project, and he plans to take the wrapping off it Tuesday. Read more. Database can be accessed here.
NEITI wants NNPC’s transfer of assets to NPDC probed (https://guardian.ng)
The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged the Federal Government to probe the transfer of some oil assets to the Nigerian Petroleum Development Company (NPDC) by the Nigerian National Petroleum Corporation (NNPC). Read more.
Togo: Mme Granado explique le processus de Validation (http://fr.allafrica.com)
Togo: Ms Granado from the EITI International Secretariat explains the process of Validation
Depuis le 1er avril dernier, le Togo est entré dans la phase de la seconde validation relative au processus ITIE. Cette phase a effectivement démarré ce jeudi avec une conférence de presse conjointement tenue par le Secrétariat Technique et une délégation du secrétariat international de l'ITIE qui est au Togo pour cinq jours. Read more.
EBRD close to deciding on TANAP's financing (http://www.azernews.az)
The European Bank for Reconstruction and Development (EBRD) is close to deciding on financing of the Trans Anatolian Natural Gas Pipeline (TANAP) project, said Aida Sitdikova, the EBRD director for energy in Russia, Caucasus and Central Asia. Read more.
Total en Angola, Areva au Niger: plus de 100 millions de dollars évaporés (http://www.lemonde.fr)
Total in Angola, Areva in Niger: more than 100 million USD disappeared
Une étude publiée par Oxfam, ONE et Sherpa montre que le flou domine encore dans les comptes des industries extractives. Read more.
FG calls for accountability in mining sector (http://www.vanguardngr.com)
THE Federal Government has called for accountability in the mining sector to enhance investors’ confidence to address leakages. This was stated by the Minister of Mines and Steel Development, Dr Kayode Fayemi, in a keynote address at the 53rd Annual International Conference and Exhibition of the Nigerian Society for Mining and Geosciences, held in Abuja. Read more.
New tool to track corporate ownership around the world (http://webfoundation.org)
The OpenOwnership Register currently pools beneficial ownership data from the UK and Slovakia as well as data from reports submitted to the Extractive Industries Transparency Initiative (EITI). The data available in the platform will continue to grow as more governments implement public company ownership registers, providing users with access to global beneficial ownership information within a single, streamlined platform. Read more.
Azerbaijan Creates Its Own "EITI" (http://www.contact.az)
On Wednesday, Azerbaijani President Ilham Aliyev signed a decree "On Additional Measures to Increase Transparency and Reporting in the Extractive Industry". Read more.
Mines au Burkina: L’état des investissements sociaux selon l’ITIE (https://burkina24.com)
Mines in Burkina: The state of social investments according to the EITI
Les paiements reportés par les sociétés minières au titre des dépenses sociales (en nature et en espèce), après ajustements, se sont élevés à 1 388 828 986 F CFA, selon le rapport 2014 de l’Initiative pour la transparence dans les industries extractives (ITIE). Ce rapport a été rendu public en décembre 2016. Read more.
Government commences the implementation stage of Beneficial Ownership Disclosure (http://www.ghananewsagency.org)
Government has commenced the processes on Ghana's Beneficial Ownership Disclosure (BOD) from being a legislation to the implementation stage to meet the 2020 deadline. Read more.
Did the U.S. just pull out of a global anti-corruption group? (The New Yorker)
There is a mystery unfolding in the U.S. Department of the Interior. Officials there seem to have removed the United States from a singularly successful anti-corruption effort. This has happened largely in secret, aside from a few public statements in legalese that are nearly impossible to parse. Read more.
В Минфине Таджикистана обсудили дальнейшую реализацию ИПДО (https://news.tj)
Ministry of Finance of Tajikistan discussed the further EITI implementation
Очередное заседание Совета Инициативы прозрачности добывающих отраслей (ИПДО) состоялось 31 марта в министерстве финансов Республики Таджикистан. На заседании было обсуждено решение Международного Правления ИПДО касательно статуса страны и дальнейшие шаги, утвержден Независимый администратор по подготовке второго национального отчета и утверждено положение о рабочей группе по реализации дорожной карты по бенефицирному праву. Read more.
Внедрение ИПДО в Кыргызстане продолжится (http://gkpen.kg)
Kyrgyz Republic will continue EITI implementation
Несмотря на приостановление статуса, ГКПЭН совместно с гражданскими организациями и добывающими компании готово продолжать работу над внедрением Стандарта ИПДО и начать работу над действиями для восстановления статуса страны-последователя ИПДО. Read more.
U.S. sticks to global transparency initiative after Congress repeal (Reuters)
"The (U.S. Interior) Department remains committed to the principles and goals of EITI including transparency and good governance of the extractive sectors...," Heather Swift, a spokesperson for Interior Secretary Ryan Zinke, said in an email to Reuters. Read more.
Guyana to apply mid-year to join transparency group EITI (https://www.stabroeknews.com)
Long in the works, Guyana is aiming for a mid-year submission of its application for membership to the European Union’s watchdog, Extractive Industries Transparency Initiative (EITI). Read more.
Gabon : Libreville va accueillir une session de formation des principes de l'ITIE au profit des ONG (http://www.infosplusgabon.com)
Gabon: Libreville to host training session on EITI principles for NGOs
Après Malabo, capitale de la Guinée-Equatoriale, c'est Libreville qui abritera à son tour du 24 au 28 avril une session de formation des Organisations de la société civile et des spécialistes impliqués dans le processus national de l’initiative pour la transparence des industries extractives (ITIE). Read more.
NEITI to sanction defaulters of company registration (http://thenationonlineng.net)
The Nigeria Extractive Industries Transparency Initiative (NEITI) says it will sanction people who provide wrong names of beneficial owners of companies. Read more.
Казахстан отходит от парадигмы сырьевой экономики (https://kapital.kz)
Kazakhstan is shifting from the paradigm of the raw material economy [to innovation-based development]
Обвал цен на нефть невольно заставил Казахстан ускорить темпы перехода к инновационному развитию. На конец 2016 года вклад добывающих компаний в формирование доходов консолидированного бюджета составил 21%, или 1,9 трлн тенге, сократившись в 3 раза по сравнению с уровнем 2014 года. Read more.
Azerbaijan: risks gas pipeline loans by quitting transparency monitor (Financial Times)
Baku reacts to suspension for failing to address civil rights concerns.
Azerbaijan has withdrawn from an international transparency watchdog in a move that jeopardises billions of dollars of loans for a gas pipeline to Europe. Read more.
Senegal: Transformation in Senegal's oil and gas sector (http://www.jdsupra.com/)
Since announcing its intention to become a member of the Extractive Industries Transparency Initiative ("EITI") in early 2012, Senegal has taken a number of steps to gain membership of the EITI. In early 2013, it established a multi-stakeholder group to implement the principles and criteria necessary to comply with the requirements of the EITI. It has established a Parliamentary Network on Transparency to use EITI information and to provide input to Senegal's multi-stakeholder group deliberations. In September 2016, Prime Minister Mahammad Boun Abdallah Dionne announced the publication of 10 PSCs as part of the country's application for EITI candidature. And in October 2016, the 2014 Senegal EITI Report was issued. Read more.
Nigeria: Nigeria EITI to Adopt Open Contracting System (https://www.thisdaylive.com)
The Nigeria Extractive Industries Transparency Initiative (NEITI) has indicated it would set up an Open Contracting Data Standard platform for procurement of goods and services, thus making it the first federal government agency to adopt the platform, which encourages accountability and openness in government procurement processes. Read more.
Democratic Republic of Congo: Glencore pays ‘infamous’ tycoon $160m in Congo deal (http://www.thetimes.co.uk/)
Glencore has paid $160 million in royalties to a company controlled by a businessman accused of corruption by US investigators, an analysis suggests. Read more. For related news on the story on Bloomberg and Times.
Guyana: ExxonMobil no longer obligated to disclose oil payments to Guyana (http://www.kaieteurnewsonline.com/)
… after Trump repeals key disclosure law
In the eyes of many, the coalition Government is making moves to shield the extractive industries from the ills of corruption. One of the ways in which the administration is seeking to insulate the industry is through application for membership with the Extractive Industries Transparency Initiative (EITI). EITI is an international body that allows scrutiny of Government’s records of what it receives from companies in the extractive sectors. Read more.
Sénégal: Secteur des hydrocarbures - Les acteurs à l'école de la fiscalité (allafrica.com)
Senegal - stakeholders in the oil and gas sector to learn about taxation in the sector
Pour permettre aux acteurs évoluant dans le secteur pétrolier et gazier d'avoir une bonne maîtrise de la fiscalité, le Forum Civil en partenariat avec l'Ong Oxfam, a initié hier, jeudi 2 mars, un atelier de formation. Selon Me Moussa Felix Sow, coordonnateur général adjoint du Forum Civil, l'objectif de cette rencontre est de former, les organisations de la société civile ainsi que d'autres acteurs intervenant dans le secteur extractif sur les régimes fiscaux des industries pétrolières et gazières en vigueur au Sénégal. Read more.
United States: A big signing; Donald Trump signs a law repealing a disclosure rule for oil companies (The Economist.com)
On February 13th, Donald Trump signed his first major piece of legislation— “a big signing” as he put it. The law repealed a Securities and Exchange Commission (SEC) regulation that oil and mining companies should disclose their payments to foreign governments. Read more. Other related news.
Sénégal: Exonération fiscale dans le secteur des mines - Une mesure incitative à encadrer, selon le Pr Ismaëla Madior Fall (allafrica.com)
Senegal: Tax exemption in the mining sector - An incentive to be framed, according to Prof. Ismaëla Madior Fall
L'exonération fiscale est un dispositif incitatif auquel ont recours les pays qui ne sont pas encore attractifs. Ensuite, elles ne sont généralement accordées que pendant la phase de recherche. Aussi, l'exonération n'est jamais totale, il y a des taxes qui sont payees. Read more.
La RDC engagée dans la mise en œuvre des six outils de lutte contre l’exploitation illégale des ressources naturelles (http://acpcongo.com)
DRC committed to the implementation of the six tools against illegal exploitation of natural resources
Kinshasa, 19 Fév. 2017 (ACP).- Le coordonateur du Mécanisme national de coordination de le Conférence internationale sur la région des Grands-lacs(MNC/ CIRGL-RDC), Aimé Kakesse Vinalu, a affirmé que la RDC est résolument engagée depuis 2010 dans la mise en œuvre des six outils de l’Initiative régionale de lutte contre l’exploitation illégale des ressources naturelles(IRRN). Read more.
EITI Global: Moberg’s clear industry vision is to build transparency
Swedish lawyer heads up global standards agency in effort to help governments, businesses, and civil society beat corruption and attract quality investment.
Jonas Moberg’s goal is to make his job obsolete. That is not likely to happen anytime soon. For the past 10 years, the 47-year-old Swedish lawyer has led the Oslo-based international secretariat of the Extraction Industries Transparency Initiative (EITI), a global standard promoting openness and accountability in the oil and gas and mining industries. Read the full interview here (Behind paywall).
United States: Campaigners fear Trump resolution could hit coffers of poor countries
Move would sweep away regulations designed to prevent US extraction firms from making secret payments to access natural resources abroad
It is an oil-rich country with an impoverished populace, home to Africa’s longest serving dictator and a small, self-seeking elite whose excesses are epitomised by the president’s son and deputy, a playboy with a penchant for luxurious cars and crystal-studded Michael Jackson memorabilia. Read more.
Peru: Fomento en transparencia de Industrias Extractivas
Peru: Promotion of Transparency in Extractive Industries
El Perú obtuvo avances en el proceso de implementación en la promoción de la Transparencia en las Industrias Extractivas (EITI, por sus siglas en inglés) y se consolida como líder de Latinoamérica, reveló el Ministerio de Energía y Minas. Read more.
Azerbaijan; Concern grows over NGO crackdown in Azerbaijan
The oil-rich government of Azerbaijan is coming under scrutiny from a prominent natural resources industry watchdog over a crackdown on human rights activists and non-governmental organisations. The Extractive Industries Transparency Initiative, a voluntary grouping of resources companies, governments and NGOs designed to fight corruption, has sent a delegation to Baku to investigate the situation and may consider suspending Azerbaijan’s membership, according to Jonas Moberg, head of the EITI secretariat. Find out more.
United States; Congress moves to rescind two Obama-era energy regulations
Washington—Legislation to eliminate two energy-related regulations is headed to President Donald Trump’s desk, paving the way for the first successful use since 2001 of a rarely employed law that allows Congress to kill agency regulations.
One measure repeals a Securities and Exchange Commission rule, completed in June, which requires energy companies to report payments to foreign governments for the right to develop oil, natural gas and mineral assets. Find out more.
Ghana; Government commits to implementing beneficial ownership regime
Vice President Mahamudu Bawumia on Thursday reiterated government’s commitment to provide the needed resources towards fighting corruption and the full implementation of the beneficial ownership regime. Read more.
Lebanon: Cabinet approves first licensing round of oil and gas exploration, declares joining EITI
The Cabinet approved on Wednesday during its session to re-launch the first licensing round of oil and gas exploration and agreed to join Extractive Industries Transparency Initiative (EITI). Find out more
Mexico reforms may help raise energy transparency bar, speakers say
Mexico’s energy system reforms could help set a new transparency and accountability standard if they are implemented aggressively and executed well, speakers suggested at a Jan. 24 Carnegie Endowment for International Peace forum. “Transparency disclosures on their own are essential, but there also needs to be accountability. The rule of law also is essential,” observed Natural Resource Governance Institute (NRGI) Pres. Daniel Kaufmann. Find out more.
Nigeria EITI unveils roadmap on beneficial ownership disclosures, open data
Nigeria Extractive Industries Transparency Initiative (NEITI) has unveiled two documents designed to push the boundaries of implementation of transparency and accountability in the extractive industries in Nigeria. Find out more.
Moçambique: Governo cumpre recomendações do Itie: Carlos Agostinho do Rosário
Government complies with EITI recommendations: Carlos Agostinho do Rosário
O Primeiro-Ministro, Carlos Agostinho do Rosário, garante o Governo vai cumprir com as recomendações da Iniciativa de Transparência na Indústria Extractiva no tocante à indicação clara da propriedade beneficiária da indústria extractiva no país.Read more.
Cameroun: Comment une partie du pétrole échappe aux caisses de l'Etat
Le pourcentage de la production budgétisé est en baisse. De 67,6% en 2012, il est descendu à 53,8% en 2014. Soit une perte pour l'Etat de plus 144 milliards de francs CFA.Read more.
Nigeria scales through EITI validation
The global Extractive Industries Transparency Initiative (EITI) has ranked Nigeria to have made meaningful progress in using the EITI Standard to improve the governance of its oil, gas and mining sectors.
Read more and more.
Ask Tillerson About ExxonMobil's Africa Deals, Watchdog Says
An anti-corruption watchdog says the U.S. Senate should ask ExxonMobil CEO Rex Tillerson about oil deals in Nigeria and other African countries that allegedly undermine anti-corruption policies. Read more.
Togo ITIE: Mystère persistant autour des exportations d’or et des phosphates au Togo
Togo EITI: persistent mystery about the export of gold and phosphates in Togo
Le dernier rapport de l’Initiative pour la Transparence dans les Industries extractives (ITIE) publié en toute fin d’année révèle la persistance d’épaisses obscurités autour des exportations d’or et de phosphate au départ du Togo. Read more.
Nigeria: Nigeria EITI asks Nigeria Petroleum Development Company (NPDC) to remit $4.977bn to Federation Account
The Nigeria Extractive Industries Transparency Initiative (NEITI) has called on the Nigeria Petroleum Development Company (NPDC) to promptly settle all outstanding liabilities, amounting to $4.977billion and N68.2billion respectively. Read more.
Myanmar: Scratching a living in Myanmar’s storied ‘land of rubies’
Myanmar produces more than 80 percent of the world's rubies, yet decades of isolation under the former military junta means the industry remains cloaked in mystery. Read the full story.
Zambia: 2016 revenue from Mines dwindles
The government’s revenue from the mining industry dropped to K9.07 billion in 2015 from K9.94 billion recorded in 2014 due to low copper earnings. Read more.
Switzerland: Le négoce "s'adaptera toujours" même dans une conjoncture difficile
Trading will always "adapt" even in a difficult economic environment
Malgré des prévisions conjoncturelles "pas terribles" pour 2017, l'activité de négoce en Suisse "s'adaptera". Le secteur fait face à la réglementation grandissante mais ne devrait pas être trop touché par l'initiative contre l'immigration de masse. Read more.
Nigeria earned $55.5 billion from oil and gas in 2014 NEITI
Nigeria earned $55.5 billion from the oil and gas sector and N55.82 billion from the solid minerals sector in 2014, the latest audit reports of the Nigeria Extractive Industries Transparency Initiative (NEITI) have revealed. Read more and related stories here and here.
Philippines: Department of Finance (DOF) takes action on erring employees, implements reforms for LGU treasurers
The Department of Finance (DOF) has taken punitive action against 14 officials and employees under its supervision and introduced reforms in the electronic reporting system for treasurers of local government units (LGUs). Read more.
Guinea, Mines: l’Etat guinéen a perçu en 2014 deux mille milliards de francs de ses mines (Rapport/Guinée ITIE 2014)
Guinea, Mines: in 2014, the Guinean State collected two thousand billion francs from its mines (Rapport / Guinée ITIE 2014)
La République de Guinée, pays minier par excellence, a publié le 28 décembre dernier son rapport ITIE2014 (Initiative pour la Transparence dans les industries extractives http://www.itie-guinee.org/rapport-itie-2014-3/). Read more.
Tajikistan: Improving Licensing Could Give Tajikistan a Shot in the Arm
As a lower middle-income country that heavily depends on remittances from migrant workers hard hit by the economic downturn in Russia, Tajikistan is in desperate need of foreign capital to balance its economic growth. Read more.
Honduras: Evalúan uso de recursos generados por Industria Extractiva en Honduras
Tras 4 años de haberse adherirse a la iniciativa, el gobierno de Honduras se someterá a su primera evaluación; La EITI Honduras, es un acuerdo de alcance internacional entre gobiernos, empresas y organizaciones de la sociedad civil. Find out more, link to video.
Nigeria: Federal Government to save $24bn from joint venture cash call exit- NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) at the weekend commended the Federal Government’s decision to terminate its cash call payments on Joint Venture (JV) agreements with major international oil companies, which it said had become a huge debt burden to the nation’s economy. Read more.
Liberia’s New Oil Law: Breaking From Past For Transparency, Accountability
Monrovia - By requiring companies to publish the names of their owners prior to making a bid for petroleum play in Liberia, the post-war nation on the verge of a major drilling expedition by the US oil giant, Exxon Mobil is poised to separate itself from many budding oil industries and mark a historical-turning point that could put it in a comfortable position for the future. Read more here.
Trafigura: Trading secrecy for transparency
Trafigura chief Jeremy Weir reflects on his company's efforts to raise awareness of its business, something he says is a natural evolution. Read more here.
Azerbaijan committed to improving transparency -SOFAZ director
Azerbaijan is committed to further improving transparency, the executive director of state oil fund SOFAZ said, in order to meet a key international benchmark that would make the country more attractive to foreign investors. The standard is set by the Extractive Industries Transparency Initiative (EITI), which is backed by governments, corporations and financial institutions and aims to promote open and accountable management of natural resources. Read more here.
Azerbaijani parliament curtails Internet freedom with new defamation law
The Azerbaijani parliament approved a series of amendments to the criminal code on November 29 criminalising defamation on the Internet, Turan news agency reported. Specifically, the amendments stipulate that insulting the “honour and dignity” of the president using fake accounts and profiles online is punishable with fines ranging from AZN1,000 (€539) to AZN1,500 or with imprisonment of up to three years.
The changes come as Azerbaijani authorities have received increased criticism over their crackdown on human rights. The threat of losing its membership in the Extractive Industries Transparency Initiative (EITI) forced Baku to ease its barriers to funding of non-governmental organisations. Find out more
Philippines - Mining, LGU dealings to come under closer scrutiny-Dominguez
The government has its eyes keenly trained on so-called extractive industries, such as mining, and recently ordered the monitoring of their contributions to the nation's coffers via the electronic receipt and expenditure system, or eSRE. This developed after the Department of Finance (DOF) ordered local government treasurers to include in their financial reports all environment and natural-resource transactions, particularly payments made by mining and allied industries. Find outmore
Togo - « Les entreprises minières auront l'obligation de publier la liste de leurs propriétaires réels »
Mining companies will be obliged to publish a list of their real owners
En tournée en Afrique francophone, Gisela Granado, responsable pays au Secrétariat international de l'Initiative pour la transparence dans les industries extractives (ITIE) a rencontré les autorités des pays de la région pour évoquer les avancées et les écueils en la matière. Dans une interview exclusive, elle a accepté de livrer les détails de sa mission à la Tribune Afrique. Read more
Mexico push for EITI recognition advances
Mexico has reaffirmed its commitment to comply with the Extractive Industries Transparency Initiative(EITI) standard – and on Wednesday its finance ministry (SHCP) published an associated "declaration of principles." Find out more
EITI to increase confidence in Armenia
The Armenian government expressed the commitment to sign up for EITI in 2015. Nevertheless, to become EITI country, Armenia needs to become a candidate first, then compliant country and then only EITI member. Read more here and here
Jonas Hien, Charge Des Programmes De L’ong Orcade: « Le secteur minier était très mal géré sous le régime Compaoré »
Jonas Hien, member of Burkina Faso’s MSG representing civil society: The mining sector was very poorly managed under Compaoré’s regime.
Le 25 Octobre 2016, la commission d'enquête parlementaire sur la gestion des titres miniers et la responsabilité sociale des entreprises rendait publics les résultats de ses recherches. La publication de ce rapport a fait couler beaucoup d'encre et de salive au pays des Hommes intègres. Find out more in French.
Every week the EITI highlights stories and trends from across the web on the extractive sector, governance and transparency. This week’s top three stories are:
FACT SHEET: The United States’ Commitment to the Extractive Industries Transparency Initiative
"We’re continuing our leadership of the global effort against corruption, by building on legislation that now requires oil, gas, and mining companies to disclose the payments that foreign governments demand of them. Today, I can announce that the United States will join the global initiative in which these industries, governments and civil society, all work together for greater transparency so that taxpayers receive every dollar they’re due from the extraction of natural resources." President Obama, 2011. Read more here
Trafigura reveals $33bn of state energy group deals
Trafigura, one of the world’s largest independent oil traders, has disclosed $33bn of direct deals with state-controlled producers during 2014 and 2015 — revealing for the first time the scale of its business with national energy companies. Find out more from the FT (Behind paywall) or on Bloomberg
Congo-Kinshasa: ITIE - La Société civile appelle le Comité exécutif à améliorer sa gouvernance
DRC EITI: Civil society asking executive committee to improve its internal governance
Les organisations de la Société civile présentes à l'atelier d'évaluation du processus Initiative pour la Transparence de l'Industrie Extractive (ITIE), tenu en la salle Transparence du Secrétariat Technique de la Gombe, demande au Comité exécutif d'améliorer sa gouvernance interne. Read more here.
Sierra Leone: 'Beneficial Ownership Brings Lots of Advantages
Chief of Staff in the Office of the President yesterday stated that knowing people in mining companies conducting business in the country brings a lot advantages for both the government and people. Saidu Conton Sesay, who doubles as Chairman of the Multi-Stakeholders Group of Sierra Leone Extractives Industry and Transparency Initiative (SLEITI), was speaking during a two-day workshop organized by SLEITI on beneficial ownership and report self-assessment at the Buxton Memorial Hall in Freetown.
Read more here.
Parliamentary Investigation On Mines: "When We Are Robbed We Laugh, Because We don’t Even Realise It " (Jonas Hien, Orcade)
Enquête Parlementaire Sur Les Mines : «Quand On Nous Vole, On Rit, Car On Ne S’en Rend Même Pas Compte» (Jonas Hien, Orcade)
Jonas Hien est de l’Organisation pour le renforcement des capacités de développement (ORCADE), une ONG de droit burkinabè qui se spécialise dans le secteur des industries extractives. Sa structure est aussi membre du Comité de pilotage de l’Initiative pour la Transparence dans les Industries extractives (ITIE) du Burkina Faso. Après la publication du rapport sur l’enquête parlementaire concernant la gestion des titres miniers et la responsabilité sociale des entreprises minières, il nous a accordé une interview dans laquelle il s’est exprimé, entre autres, sur le fameux manque à gagner enregistré par l’Etat burkinabè, la problématique de la coulée de l’or, et ce qu’il pense être les mesures concrètes à mettre en œuvre afin de mieux tirer profit du secteur minier. Cet entretien est publié maintenant pour des raisons indépendantes de notre volonté.
Read more here.
Corruption in Colombia is falling year after year
La corrupción en Colombia está cayendo año tras año’
Consejo Privado de Competitividad presentó el décimo informe nacional en esta materia. Uno de los aspectos destacados fue la presentación del doctor en economía de la Universidad de Harvard, Daniel Kaufmann, quien además es experto internacional en temas de corrupción e institucionalidad. De acuerdo con él, las mejoras de Colombia en esta materia han sido significativas durante los últimos 15 años y aseguró que las medidas que se han adoptado recientemente, así como la presentación de la reforma tributaria, contribuyen a que el país continúe progresando en este campo, lo cual servirá, además, para hacerse más competitivo.
Read more here.
1. Can Lebanon Escape the Resource Curse?
After two and a half years without a president, Lebanon’s Parliament has elected Michel Aoun to the post. Now, Lebanon can turn its attention to oil and gas production, with policymakers’ expectations running high – verging on irrational exuberance – that an energy windfall will jumpstart the country’s economy, which has suffered from poor political and economic governance and the spillover effects from Syria’s civil war. Read the full story here.
2. Afrique: Le Sénégal adopte un nouveau Code minier
Sénégal-Economie-Nouveau Code minier
LIBREVILLE, 2 novembre (Infosplusgabon) - L’Assemblée nationale du Sénégal a adopté dimanche soir à Dakar un nouveau Code minier qui vise à réorganiser le secteur et à mieux protéger l’environnement. Le nouveau Code minier apporte plusieurs modifications à l’ancien qui datait de 2003, notamment les conditions d’attribution et de retraits des permis de recherche et d’exploitation, les modalités de partage de la production et une clé de répartition "plus équitable" des revenus générés par l’extraction minière. Read the full story (french) here.
3. Anxiety Brews Over Government's Role In Senegal's Looming Oil Boom
In a report during the week of Oct. 24 detailing sub-Saharan Africa's dire economic outlook, the International Monetary Fund (IMF) singled out Senegal as a rare bright spot. One key reason: it does not produce oil. While low crude prices have hobbled exporters Nigeria and Angola this year and African growth staggers to its slowest rate in more than two decades, Senegal's economy will expand by over 6%. Today, however, Senegal is on the verge of its own oil and gas boom. With recent finds promising billion-dollar payoffs within a decade, it would do well to learn from the mistakes of others. Read the full story here.
1. National coordinators from African EITI implementing countries met in Brazzaville 5-7 October for their 5th Conference.
Following their debates, National Coordinators made some recommendations they hope will be discussed by the EITI Board when it meets in Astana at the end of the month. The main topic for discussion was the EITI International Secretariat’s evaluation process, allowing countries to implement corrective actions in order to successfully undergo a second Validation.
2. SOFAZ: Azerbaijan’s status in EITI not to affect financing for Southern Gas Corridor
The status of Azerbaijan in the Extractive Industries Transparency Initiative (EITI) will be discussed on 26 October. Shahmar Movsumov, executive director of the State oil Fund of Azerbaijan (SOFAZ), has stated that the EITI Board’s meeting will take place in Astana, Kazakhstan.
3. Guyana says it is taking steps to maximise newly discovered oil and gas sector
The Guyana government says it has been assured the country will benefit economically from its newly discovered oil and gas sector despite current market trends of low prices for the commodities.
1. The dark shadow of Myanmar’s jade trade
Coveted by wealthy Chinese but produced by a corrupt industry, jadeite brings harm as well as income to Myanmar.
2. Why Nigeria lost $200bn — NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI), on Wednesday, explained that Nigeria has experienced huge losses to the tune of about $200 billion due to failure to pass an enabling law for the petroleum industry.
3. Congo: "Les militants anticorruption sont plus tolérés qu'acceptés"
In a report to the United Nations Human rights Council, Congolese civil society organisations estimate that protests organized by the opposition in the lead-up and following the reelection of President Sassou Nguesso in March this year have made over 100 victims between September 2015 and July 2016. How is the situation in Congo? Which obstacles do civil society activists see to political change? Christian Mounzeo, Congolese EITI MSG member, shares his views in an interview with Le Point Afrique.
Read the full story on Le Point Afrique (French).