EITI in the News
The following articles and the information therein is neither written nor endorsed by the EITI.
Nick Thomas, Director of Corporate Affairs in ExxonMobil has written a Letter to the Editor in Financial Times Friday 2 May that emphasizes that ExxonMobil has been a strong supporter of EITI from its very begining. The letter was a response to a Financial Times report on the launch of the PRT report earlier in the week.
In an op-ed piece in Financial Times 10 April, Paul Collier and Michael Spence write:
Any international standards for resource extraction must be voluntary. Fortunately, in this area voluntary standards have a good record. The Extractive Industries Transparency Initiative, launched in 2002 as a standard for revenue reporting, has a wide take-up. Standards provide rallying points for reformers and a benchmark for performance and promote competition between governments.
Reuters reports that Gabon has lifted the suspension on 22 NGOs after the Government was confronted with the fact that the ban was incompatible with Gabon's membership of the EITI. The participation of independent civil society is a fundamental component of the multi-stakeholder nature of the EITI, which champions dialogue between governments, industry, and civil society.
In an Op-ed in the Jakarta Post 29 November, EITI Chairman Peter Eigen writes that joining EITI would be a natural fit to Indonesian President Yudhoyono's ambitious reform agenda. Also, the Initiative would in important areas stand to gain from Indonesia's joining.
27 September 2007, Press Release, Norwegian Ministry of Foreign Affairs
OILY BRIEFS, By Bayo Adaralegbe, email:agga96@yahoo.com
http://www.thisdayonline.com/nview.php?id=87507
The law sets up a very elaborate framework for revenue transparency and actually imposes criminal sanctions to ensure that accurate payments are made to government. In fact, it imposes criminal liability against companies and regulatory officers in respect of non-payment or underpayments of these revenues.