What’s the deal? Evolving practices in contract transparency

Event: June 28, 2018, Conference Centre of the Ministry of Economic Affairs and Energy (BMWi), Invalidendstarsse 48, Berlin The Contract transparency landscape within EITI is changing fast. More than half of EITI member countries have disclosed extractive industry contracts and 16 EITI supporting companies have now made statements supporting publication in some form. In the last more »

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Guyana’s oil deal is outlier low: government takes just over half

FAST-Compliant Financial Model   Stabroek Narrative Report Guyana’s first and major oil deal, with ExxonMobil, produces results for the government which are outlier low, an OpenOil financial model reveals. Over the life of the project the government should expect to see from 52% to 54% of profits, compared to well over 60% in a cluster more »

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Running the numbers: making extractives count for Africa

By Olumide Abimbola and Pietro Toigo of the African Development Bank As African resource-rich countries battle with the macroeconomic impact of the dip in global commodity prices, many look back at the 2004-2013 upswing in the commodity cycle and consider whether African countries, and their citizens, made the best out of them. Asymmetric information between more »

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Yaoure tax holiday costs Cote d’Ivoire $120 million

The publication of the financial model of Yaoure gold mine shows what can be done: both in the tricky area of what tax incentives offer, and in terms of building government analytical capacity. OpenOil, with support from the German Corporation for International Cooperation (GIZ), worked with colleagues from Cote d’Ivoire’s Ministry of Mines to build more »

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How to build a robust model with almost no data

After doing the OpenOil training I had to choose a project I was interested in modeling. The joint venture between YPF and Chevron to exploit shale gas and oil in Vaca Muerta (South West of Argentina) was the obvious option. It had been all over the news, since the U.S. Energy Information Agency (EIA) had more »

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Yaoure tax holiday costs Cote d’Ivoire $120 million

Publication of the financial model of Yaoure gold mine looks at tricky area of tax incentives, and at building government analytical capacity.

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Subsidy bill for Argentina’s Vaca Muerta decision could reach billions of dollars

Argentina’s agreement with oil companies to extend subsidies on natural gas production in the Vaca Muerta basin will cost hundreds of millions of dollars in the short-term, with the possibility that longer term the bill runs into many billions. The agreement, announced this week, says that prices for gas will remain fixed at $7.50 per more »

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Five reasons to model at the project level

The portfolio of models OpenOil is releasing with partners are all at the project level. Normally speaking, this involves building a view of the financial flows for the investor and government from a single mine or oil field. But of course modelling can be applied at the macro-level as well, seeking to address questions like: more »

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Comments to our Libra model release

Following our publication of the financial model and narrative report on Brazil’s $90 billion Libra project, we share with you a first set of comments as they were provided to us by our reader Ahmed Mousa Jiyad, Independent Oil & Energy Development Consultant. Please find below his unedited comments, as well as our direct responses more »

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Fiscal Model & Report for Batu Hijau

Shedding light on if and how Indonesia’s new fiscal regime is working at Batu Hijau Mining Project, Indonesia

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Modeled! Next release out of the OpenOil modeling sprint

Biggest mining project in Malawi’s history needs uranium price to double to restart production

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Opendata fiscal model on Brazil’s Libra offshore field

Report and model for Brazil’s Libra suggest giant $90 billion oil field unlikely to go ahead as planned

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Press Release:

Mongolian Government Unlikely to Receive Dividends from Oyu Tolgoi until 2035, OpenOil financial model and analysis show

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With Mandatory Disclosures, More Open, Granular Oil Price Data

This blog was also posted on the Natural Resource Governance Institute website and was written by David Mihalyi and Anton Rühling. Many oil-rich countries’ governments reap huge and notoriously opaqueproduction revenues. In the past, transparency initiatives were limited to exposing tax payments. However, EITI reports and company disclosures are exposing more details on these deals. We are more »

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Using Aleph to build cash flow models – the example of Vaca Muerta, Argentina

The Vaca Muerta formation – background and context Argentina holds the second largest shale gas reserves in the world. The Vaca Muerta formation, in the Neuquén Basin, is one of its main producing areas and its largest play of dry, wet, and associated shale gas resources. In July 2013, the Argentine energy company Yacimientos Petrolíferos more »

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The Panama Papers, corporate filings and the “bad guy” / “sharp guy” issues

Oil geek question: what do ConocoPhillips, Halliburton and Schlumberger have in common? Well… they all share the fact that they have, or at least at one point had, Panama incorporated subsidiaries. So why is that, if Panama isn’t actually producing any oil, as the U.S. Energy Information Administration states on their website? With the Panama more »

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Using Aleph: 5 tips and tricks to find out about what extractive companies tell their investors

Every week thousands of pages are filed by extractive companies to stock exchanges across the globe, containing valuable information on oil, gas and mining operations worldwide. Through such disclosures, investors, regulators and researchers can update themselves on any listed company’s financial situation, the economics of particular oil or mining projects, newly signed host-government contracts, changes more »

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EITI adopts Open Data policy

OpenOil’s belief that transparency requires open data is steadily becoming an accepted truth. This was confirmed once more last month, when the Extractive Industries Transparency Initiative (EITI) agreed their first ever policy on open data. The EITI brings together governments, extractives corporations, investors and civil society. That makes it one of the most significant places more »

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Location references in petroleum contracts – some observations

It has become a matter of debate how the location of oil, gas and mining projects can or even has to be specified. Given that listed extractives companies in the EU, Canada and the US will soon have to disclose payments to governments on a “project basis”, this is just as much a tricky as more »

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Now Live: Aleph offers 2 million filings from 40,000 companies

OpenOil launches the Aleph search engine – everything extractive industries tell investors, in one place.

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Press Release: OpenOil Launches Aleph

A Search Engine for Extractive Industries Corporate Filings

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Let’s not make the Paris Agreement the “Elephant in the Room”

In my first post I referred to how the Paris agreement mentions transparency, which in the text is confined to transparency around carbon accounting and the disbursement of the huge financial aid that is an integral part of the agreement. Neither of which relate directly to transparency of the upstream in extractive industries, which is more »

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Introducing Aleph: everything companies tell investors, in one place

Part I: why collect corporate filings? Can the world understand oil and mining companies as well as their investors do? We think it’s possible, and we’ve been hard at work building a tool to make it so. Our goal is: everything extractives companies tell investors, in one place. The result is Aleph, our new search more »

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Putting open data all together – the Tanzania pilot

For the past year, OpenOil has researched various aspects of open data on extractive industries. First we looked at corporate mapping – creating a network map of BP’s 1,200 subsidiaries across 84 countries with our colleagues at OpenCorporates. Then, with PWYP in Canada, we searched systematically for contracts disclosed by companies, which led to the more »

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Launched: Open Data Concession Map of the World

Part II, MENA countries: 53 countries, 3,400+ blocks, 200+ contracts – now in one map

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Open modeling will help governments, whether they admit it or not

We have seen how public interest models can put the power of analysis into the public domain, help raise the level of understanding around the financial engine of oil and gas projects, and channel advocacy into highly targeted requests for information to produce still more clarity. But where are governments in all this? If public more »

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Public interest models: a powerful tool for the advocacy agenda

Open financial models can clearly put analysis into a genuinely independent public space, and also trigger a rise in public understanding which could enrich the governance debate in many countries. But there is a third function public models can serve: that of advocacy for targeted disclosure of information. The stress here is on “targeted”. A more »

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Public interest modeling is the entry point, not the grand finale, of transparency work

Models are powerful tools. So powerful in fact that the discussion of whether they should be unleashed into the public space has sometimes been accompanied by a discussion of the “dangers” of doing so – reminiscent of the first debates around the idea of transparency itself. General thinking has been that models are a stage more »

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4th edition release: 806 contracts from 73 countries.

OpenOil is pleased to announce the 4th edition of the repository, with 83 new contracts.

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Understanding oil contracts booksprint

In late October 2012, OpenOil gathered a group of world class oil experts and professionals to jointly write a book which explains how to read the contracts which govern the industry. You can download the book for free, here.

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