Recent Articles

Carlos Monge, RWI Latin America Regional Coordinator, and colleagues deliver fresh news and insight. In the October issue, Peru-Petro offers blocks for oil and gas exploration and Bolivia's government postpones the release of a critical new report on national gas reserves.
News Article ~ 31 October 2010
In June, the World Bank published Demanding Good Governance: Lessons from Social Accountability Initiatives in Africa—a collection of case studies from across the continent that showcases citizen campaigns to enhance government accountability and transparency. Revenue Watch's Dauda Garuba and co-author John G. Ikubaje contributed a chapter, "The Nigeria Extractive Industries Transparency Initiative and Publish What You Pay Nigeria," highlighting a lesson in government and civil society cooperation.
News Article ~ 26 October 2010
The Open Budget Survey 2010, released today in Washington, D.C., reveals that 74 of the 94 countries assessed do not meet basic standards of transparency with their national budgets. The report is produced every two years based on an independent comparison of budget transparency and accountability around the world. The new survey finds that just seven of the 94 countries release extensive budget information, and 40 countries release no meaningful budget information.
News Article ~ 19 October 2010
Senior financial and development experts today supported the Natural Resource Charter (NRC) as a guide for societies managing oil or mineral wealth. "Natural resources can be a lifeline to prosperity," Charter co-author Professor Paul Collier said in Washington, D.C., "but harnessing their potential is both technically and politically challenging." Collier led a panel discussion during IMF/World Bank meetings, debating how countries can best choose between saving and spending windfalls from natural resources.
Press Release ~ 7 October 2010
The Revenue Watch Index is a pioneering measurement of government disclosure in the management of oil, gas and minerals, ranking transparency in 41 countries among the world's top producers of petroleum, gold, copper and diamonds. The index is an assessment and comparison of information published by governments about revenues, contract terms and other key data. It is an important tool for elected officials, policy makers, civil society and media seeking increased public disclosure about natural resource management, and greater government accountability.
Press Release ~ 6 October 2010
Carlos Monge, RWI Latin America Regional Coordinator, and colleagues deliver fresh news and insight. In the September issue, Brazil's PETROBRAS raises US $70 billion in the world's largest share offering and Colombia's Congress discusses a bill that would modify royalty distribution.
News Article ~ 30 September 2010
Revenue Watch was heartened by President Obama's strong praise for open government in his address to the UN General Assembly. Obama also welcomed new U.S. requirements for company reporting of extractive industry payments, during comments to the Millennium Development Goals Summit.
News Article ~ 23 September 2010
Based on a methodical assessment of 41 resource-rich countries, the Revenue Watch Index is the first attempt to measure and compare the information governments disclose about the oil, gas and mining industries. On October 6 in Washington, D.C., leaders and experts from Revenue Watch and Transparency International will meet to discuss the findings of the index and their implications for governments, citizens, civil society groups and the media.
News Article ~ 14 September 2010
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.
Press Release ~ 7 September 2010
Carlos Monge, RWI Latin America Regional Coordinator, and colleagues deliver fresh news and insight. In issue August 31, Venezuela and Trinidad and Tobago sign a gas pact; Bolivian President Evo Morales modifies the iron territory granted to Jindal Steel; and Brazil weighs reducing its gas imports from Bolivia.
News Article ~ 31 August 2010
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.
News Article ~ 24 August 2010
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.
News Article ~ 16 August 2010
Carlos Monge, RWI Latin America Regional Coordinator, and colleagues deliver fresh news and insight. In issue August 15, a Bolivian gas find may increase exports to Argentina; Venezuela's state-owned PDVSA presents its annual financial report; and Chile's lithium framework is challenged.
News Article ~ 15 August 2010
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.
News Article ~ 12 August 2010
RWI seeks a Research Consultant: Native Lands and Extractive Industries in the United States.
News Article ~ 4 August 2010
Carlos Monge, RWI Latin America Regional Coordinator, and colleagues deliver fresh news and insight. In issue July 15, Peru considers a windfall profit tax; Chile seeks royalty increases to help earthquake-damaged regions; and Colombia's oil production approaches one million barrels per day.
News Article ~ 15 July 2010
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."
Press Release ~ 15 July 2010
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.
News Article ~ 8 July 2010
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.

 

Press Release ~ 1 July 2010
RWI's Latin America team delivers fresh news and insight. In issue June 30, Ecuador faces the long road to hydrocarbon contract renegotiation; Bolivia and Brazil increase investment to raise oil production; and Peru's rivers suffer from oil and mining pollution.
News Article ~ 30 June 2010
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.
News Article ~ 24 June 2010
This week in New York, representatives from the International Accounting Standards Board (IASB) met at the Revenue Watch Institute's New York office for a dialogue with members of the investment, civil society and corporate communities about rule changes that would add vital industry information to standard reporting requirements for petroleum and mining companies.
News Article ~ 10 June 2010
Last week, more improprieties surfaced at the scandal-plagued Minerals Management Service, where oil companies had been allowed unethical influence over regulatory activities in Louisiana. The planned reorganization of the troubled MMS is only a half-step towards true reform though. Revenue Watch Director Karin Lissakers writes that the ongoing situation makes it clear that transparency of key public data, which makes it far harder to hide regulatory or industry misdeeds, is critical to accountable government.
News Article ~ 4 June 2010
Carlos Monge, RWI Latin America Regional Coordinator, and colleagues deliver fresh news and insight. In issue May 30, the debate about exporting natural gas continues in Peru; the oil spill in the Gulf of Mexico holds consequences for Latin America; and Peru and Bolivia face the implications of rising international gold price.
News Article ~ 30 May 2010
Development is underway for a new International Financial Reporting Standard that could make oil, gas and mining companies publish what they pay to governments for country in which they operate. Learn how you can take action to help secure important reporting reforms this June and July.
News Article ~ 28 May 2010