The Oil in Uganda Transparency Conference ended yesterday in Kampala, with government officials remaining hesitant to make a solid commitment to the Extractive Industries Transparency Initiative (EITI). Read More
Former Ghana President, John Kufuor, has advised Ugandan leaders to adhere to the principles of good governance if the country’s oil sector is to be sustainably managed.
By Annie Sturesson
For African countries rich in natural resources, extractive industries are a potential source of funding for development and to fight poverty. But corruption and poor management of oil, gas and minerals have often prevented the poorest people from benefiting. Read More
The first phase of the ongoing implementation of the Resettlement Action Plan (RAP) in Hoima District is facing resistance from some angry residents, with some of them threatening to take the government to court over unfair compensation of their property. They are also claiming that government agents are harassing them and coercing them into signing consent forms. Read More
Oil has long fuelled corruption in Nigeria, which currently ranks 139th out of 176 countries in Transparency International’s global ‘Corruption Perception Index.’ (The lower the rank, the more corrupt the country is perceived to be; Uganda ranks only slightly higher, at 130)
Yet membership of the Extractive Industries Transparency Initiative (EITI) is helping to clean up the country’s oil sector, according to Faith Nwadishi and Hilary Enenche, who work for the Nigerian branch of EITI. Read More
A senior Tullow Oil official last week reiterated the company’s position on making public the Production Sharing Agreements (PSAs) the company has with the Uganda government.
Speaking at a civil society meeting in Kampala last week, Tullow’s Group Public Affairs Manager, Lesley Coldham, observed that publishing such information promotes transparency which is important for the company’s profitability. Read More
A US court has dealt a blow to demands for greater transparency in the global extractives industry by ruling that companies do not have to publish details of payments they make to foreign governments.
Section 1504 of the 2010 Dodd-Frank Financial Regulation Act had been widely interpreted to mean that natural resource companies listed on the US stock exchange would have to disclose all overseas payments. Read More
A report released by the Revenue Watch Institute has ranked Ghana highest in sub-Saharan Africa in good natural resource governance.
The Resource Governance Index measured the quality of governance in the oil, gas and mining sectors of 58 countries worldwide, and Ghana emerged 15th, ahead of Liberia, Zambia, South Africa, Tanzania and the Democratic Republic of Congo, among other African countries. Read More
The Extractive Industries Transparency Initiative (EITI) Board suspended the Democratic Republic of Congo (DRC) mid this month following concerns that it was not fully disclosing financial information and the disclosed financial figures were not reliable.
EITI is an international initiative that operates on the principle that companies working in the extractives sector of member countries must publicly disclose payments they make to governments and governments disclose whatever revenues they receive from those companies. Read More
The majority of the communities in the Albertine Region are unhappy with the oil companies operating there, according to findings of a study commissioned by International Alert, an international peace-building NGO.
When asked if they were “satisfied with the interaction/dialogue with oil companies”, 62 % of the respondents said they were not. An even bigger proportion (80 %) reported that they were particularly concerned that the oil companies had not released any statement to address any of their concerns. Read More