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
Dr. Jörg Wiegratz is a Lecturer in Political Economy of Global Development at the University of Leeds, School of Politics and International Studies. He is the author of, among others, Fake capitalism? The dynamics of neoliberal moral restructuring and pseudo-development: the case of Uganda, and Uganda’s Human Resource Challenge: Training, Business Culture and Economic Development. Read More
By Chris Musiime
A week ago, Nigeria’s President Goodluck Jonathan ordered Nigerian revenue collection agencies to recover $9.6 billion in underpaid or unpaid taxes and royalties from oil companies operating in Nigeria, following an audit of the country’s oil and gas sector stretching over the last ten years.
For a long time now, corruption and successive weak leadership have ensured that half of the 70 million Nigerians remain in poverty, despite their country being the leading crude oil producer in Africa. Read More
The sixth global conference of the Extractive Industries Transparency Initiative (EITI) ended today in Sydney, Australia, with all member countries and prospective member countries, including Uganda, re-affirming their commitment to the initiative. Read More
The sixth Extractive Industries Transparency Initiative (EITI) global conference opened today in Sydney, Australia, with the watchdog unveiling revised, more stringent standards for member countries and those intending to join.
Perhaps the most significant of the revised standards is the requirement for member states to make their contracts with the companies, including the Production Sharing Agreements, more transparent. Read More
The oil rich Albertine Region is secure from rebel attacks from the Allied Democratic Forces (ADF) despite media reports that the rebel group is actively recruiting in Kampala and parts of Eastern Uganda, says the Uganda People’s Defense Forces (UPDF) Chief Political Commissar and former spokesman, Felix Kulayigye. Read More
The COMESA Oil and Gas Summit opened in Kampala today, with speakers calling on the government and oil companies to recruit more Ugandans in the oil and gas industry, but also eradicate corruption. 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 ruling NRM party announced early this week that it had expelled four Members of Parliament for indiscipline, two of whom were vocal critics of the recently passed Petroleum, Exploration and Development Act.
Theodore Ssekikubo and Wilfred Niwagaba were also members of the Parliamentary Forum on Oil and Gas (PFOG), a pressure group of legislators advocating for greater transparency in the oil and gas sector.
Among the charges brought against Hon. Ssekikubo, was his role as chairman of PFOG. Hon. Niwagaba was also accused of belonging to the same Forum, which “is opposed to the NRM position on oil.” Read More