Aleph and beneficial ownership: working up from the ground

Within the EITI process, the issue of beneficial ownership has gained momentum. After a successful pilot phase to which 11 countries voluntarily signed up, the 2016 EITI standard now requires all 51 implementing countries  to ensure that companies disclose their beneficial owners. These are early days, however, and so far reporting on beneficial ownership is more »

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How do mandatory disclosures relate to EITI figures?

This year’s introduction of mandatory disclosures in France and the UK will bring about a considerable amount of reports listing extractive companies’ payments to governments. The mandatory disclosures promise increased transparency, however, we are only at the beginning of a debate on how to best make use of the new data. One idea has already more »

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Call for contributions: next generation oil governance

OpenOil is launching a project to map the corporate supply chain in the oil sector, combining Big Data techniques and collaboration with domain experts on the ground. We are piloting this approach in Nigeria and invite you to join us. An article from the Petroleum Economist last week was a reminder of just how much supply chain has mattered for more »

Category: Africa, Blogs, Companies, EITI, Nigeria, OpenOil blogs · Tags:

Oil and corruption in Uganda: the foreign donors’ plight

If this had been the UN, we might have sent a strongly worded statement to the Norwegians. They were absent from a forum in the heart of Africa on the corrupting effects of oil, an affliction for which Norway, more than any other nation, seemingly knows the cure. It wasn’t the UN – it was more »

What do we REALLY know about the Niger Delta?

Nigeria is possibly the world’s best known exemplar of Resource Curse. There are – literally – coffee table books of poor people covered in oil with polluted lakes and gas flares behind them. I have one. There’s even something a little disturbing about the degree to which the Delta has become disaster porn, a morality more »

Category: Africa, Blogs, EITI, OpenOil blogs · Tags:

If Dodd-Frank took so long… is US EITI in trouble?

The US Securities and Exchange Commission (SEC) has finally voted on the implementation of oil and mining transparency rules in the Dodd-Frank financial regulatory reform bill, more than a year after the original deadline came and went. Good news, to be sure, since tough financial disclosure rules are better late than never. But the delay more »

EITI in the US: the invisible empire of oil (Part 3)

Growing up in Louisiana, the fourth-biggest oil producing state in America, I pretty much took the oil industry for granted. It was everywhere, of course. I saw the sprawling refineries, heard about the jobs created and the oil occasionally spilled, but it was so omnipresent that I almost didn’t notice it. Like someone from Paris more »

EITI in the US: leaning on Dodd-Frank (Part 2)

In a blog post last week I asked why the United States’ implementation of the Extractive Industries Transparency Initiative (EITI) should be limited to federal lands, responsible for about 30% of oil and gas production, and not cover private or state-owned areas, where most US oil and gas are produced. Today I look in more more »

Iraq’s EITI report shows discrepancies with a KPMG audit

We were running some numbers on Iraq’s first EITI report, published in December, and stumbled on a surprising fact: the reconciliation report carried out by Price Waterhouse Cooper, mapped exactly onto an audit by KPMG of the Development Fund for Iraq accounts held in New York. And yet there is a discrepancy of at least more »

Category: Blogs, EITI, Iraq · Tags:

Wanted: no-win no-fee lawyers for Somalia

Contract renegotiations are in the news again. The Economist ran a feature recently on restive governments all across Africa imposing windfall taxes and seeking friendlier outcomes from a bunch of oil and mining contracts. And Africa’s growing number of early stage oil producers, like Uganda, Ghana, Mozambique, Kenya, and maybe even Liberia raise the concern more »

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EITI in the US: why only on federal lands? (Part 1)

The US sign-up last September to the Extractive Industries Transparency Initiative (EITI) was met with widespread acclaim by international civil society groups. But EITI implementation in the US applies only to federally-owned lands, responsible for about 30 percent of oil and gas production, and not private or state-owned areas, where most US oil is produced. more »

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The missing pieces in Iraq’s first EITI report

The next few months are an incredibly crucial time for Iraq as an implementing country of the Extractive Industries Transparency Initiative (EITI). It has until August 2012 to achieve EITI Validation, following the beginning of its candidacy in February 2010. As such, any issues with regards to the activities designed to display their increase in more »

Category: Blogs, EITI, Iraq, Oil 101, Transparency · Tags:

Iraq’s first EITI report raises as many questions as it answers

Iraq issued its first report under the EITI mechanism just before the New Year and it was circulated last week in English, Arabic and Kurdish. It’s the first formal deliverable in Iraq’s participation in the transparency scheme since it signed up two years ago. Price Waterhouse Cooper reconciled financial reporting from Iraq’s monopoly oil marketing more »

How Wall Street reform could affect Iraq's oil industry

One short clause, inserted late in intense negotiations into a US bill to clean up Wall Street just before the summer break, may be about to transform disclosure and reporting rules for extractive companies around the world. Section 1504 of the Dodd–Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama more »

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