Non-Secret Contracts: Attorneys and Mining Experts Discuss Contract Transparency at Astana Conference

Opportunities for the disclosure of contracts in the extractive sector of Kazakhstan were the focus of an international conference, "Extractive Industry Contracts Disclosure: Making Development Sustainable," attended by prominent Kazakh lawyers and leading experts in the development of model mining development agreements. The event, which also marked the Russian- and Kazakh-language launch of RWI's 2009 report Contracts Confidential, was jointly organized by the Soros Foundation-Kazakhstan, the Revenue Watch Institute and the International Bar Association.

TRANSCRIPT: Antoine Heuty Discusses Afghan's Mineral Wealth on CNN

In a recent CNN interview, Antoine Heuty of RWI and Ashraf Haidari of the Embassy of Afghanistan discusssed the prospects for improved development and for increased conflict and corruption in Afghanistan, where vast untapped mineral riches have recently sparked international attention and calls for good governance of the war-torn countries mineral sector.

Selling Oil Assets in Uganda and Ghana – A Taxing Problem

When companies sell their oil and gas assets before production has even begun, they may turn a profit long before the host country can collect the tax revenues typically associated with production. The prospect of an immediate upside for industry with uncertain or delayed benefits for countries has sparked a debate over capital gains taxes on pre-production sales. Analyst and RWI advisor Keith Myers reviews current controversies in Uganda and Ghana, using these emerging oil nations to make the case for clearer extractive sector taxation rules.

Senator Richard Lugar Recognizes RWI's Work on U.S. Legislation

In a letter to Revenue Watch Director Karin Lissakers, U.S. Senator Richard Lugar notes RWI's exceptional efforts in securing the new extractive industry reporting requirements for all U.S. and foreign companies registered with the Securities and Exchange Commission (SEC).

Jobs: Part-Time Accountant

The Revenue Watch Institute seeks a Part-Time Accountant to be based in Ghana.

Jobs: Regional Associate

The Revenue Watch Institute seeks a Regional Associate to be based in Ghana.

Disclosure Will Help Investors, Oil Companies: Letter to the Editor

Revenue Watch Director Karin Lissakers responds to a recent Wall Street Journal article on the new energy sector reporting rules in the Dodd-Frank Wall Street Reform Act, calling on oil companies to demonstrate their commitment to a more level competitive field by supporting global standards for better disclosure practices.

Peru Moves to Implement Greater Indigenous Rights

A year after Peru witnessed deadly conflicts over hydrocarbon exploitation in the Amazon, the nation's Congress has passed a law clarifying the right of indigenous peoples to advance consultation concerning extractive industry activities on their lands. Claudia Viale and Felipe Bedoya of RWI's Latin America office explore the issue.

Jobs: Fall Undergraduate Intern

RWI is seeking one undergraduate intern to provide research, communications/media and administrative support. Position located in New York.

Anti-Corruption: U.S. "Kleptocracy Initiative" Boosts Transparency

A new U.S. initiative against corruption by senior foreign officials marks a major step forward in protecting natural resource revenues and safeguarding the interests of citizens in resource-rich countries, the Revenue Watch Institute said today.

Iraq: Audit Highlights Urgent Need for Transparent Management of Energy Revenues

A U.S. audit that found the U.S. Department of Defense unable to account properly for 96 percent of $9.1 billion in Iraqi funds from the sale of Iraq's oil underscores the need for Iraq's new government to adopt strong, transparent controls on oil revenues and spending if the country's oil industry is to fuel economic development rather than conflict.

Jobs: Research Consultant--Native Lands and Extractive Industries in the United States

RWI seeks a Research Consultant: Native Lands and Extractive Industries in the United States.

Revenue Watch Brief Explores Ghanaian Oil Revenue Bill

Ghana's new "Petroleum Revenue Management Bill," which the government recently introduced to parliament, provides a strong framework for the collection and management of the country's expected petroleum revenues. In a new brief from Revenue Watch, RWI Advisory Board Chair Joseph Bell, Legal Analyst Patrick Heller and Deputy Director Antoine Heuty offer comments and suggestions.

U.S. Financial Reform Sets New Standard for Energy and Mining Industry Transparency

The Wall Street reforms passed by Congress include historic transparency rule changes for the oil and mining industry, giving investors and citizens new tools to hold companies and governments accountable for their actions. Revenue Watch Director Karin Lissakers called the victory "the culmination of a long campaign by Revenue Watch and the Publish What You Pay coalition to make extractive industry activities truly transparent, in the U.S. and abroad."

Q&A: U.S. Financial Reform and Transparency in Oil, Gas and Mining

Among the financial reforms approved by Congress in the Dodd-Frank Wall Street Reform and Consumer Protection Act is a measure that requires all companies registered with the Securities and Exchange Commission to report the amounts they pay to governments for access to oil, gas and minerals. The law gives investors and citizens new tools to hold companies and governments accountable.

RWI Comments on Uganda's Draft Petroleum Bill

This May, the government of Uganda circulated a draft Petroleum Bill for the management of the country's emerging oil sector. In a new analysis of the bill from the Revenue Watch Institute, Professor Robert. D. Langenkamp concludes that, despite several positive attributes, the new bill leaves many questions unanswered and many problems unaddressed.

Nigerian Oil Savings Fund Requires Strong Protections, Revenue Watch Advises Leaders

To promote sustainable economic development, the government of Nigeria is considering the creation of a Sovereign Wealth Fund, a savings tool that could protect against oil price volatility. But, according to a new RWI analysis, Nigeria risks repeating patterns of weak economic governance and volatile spending unless its new Fund features certain safeguards. Read more and download the full briefing paper.

 

OSI-Azerbaijan Honors Investigative Journalism on Public Finances

Recently, Open Society Institute - Azerbaijan, held a journalistic competition for investigative reports about issues of public finance—a critical area of concern for transparency activists. Three of the award-winning stories are now available in English, covering topics including regional access to water, the challenges to vocational training, and food safety.

RWI Convenes Experts in Ghana to Push for Transparency of Oil and Mining Contracts

It has been more than a year since Ghanaian President John Atta Mills committed his government to disclosing all existing and future contracts with oil, gas and mining companies. To date, his promise remains unfulfilled. Firm decisions on transparency are increasingly urgent in Ghana, as lawmakers have released proposals for a new petroleum law and there is an increasing national frenzy over oil. In response, this week RWI convened a public conversation in Accra focused exclusively on transparency in oil and mining contracts.

Huffington Post: Mineral Prospects Should Spur Peace, Not Conflict, in Afghanistan

Despite an ongoing military conflict, Afghanistan has worked since 2009 to build a mining sector that can provide sustainable wealth, passing a new hydrocarbons law and committing to implement the Extractive Industries Transparency Initiative. With the discovery of new mineral deposits worth an estimated one trillion dollars, the stakes for creating sound and accountable minerals management just got higher. Karin Lissakers describes steps that Afghan leaders can take to make the promised windfall a tool for national stability.