Tag Archives: Oil management

Little Information Known About Oil, Gas: Survey

A new survey suggests that many of Cambodia’s smaller business entrepreneurs are not fully aware of the development of the extractive industry. The survey, initiated by Cambodians for Resource Revenue Transparency and issued Tuesday, found that out of 548 companies, most had little knowledge of the sector and that information was lacking in both the media and the business community. However, observers say development of these resources, especially in oil and gas, will require good management and will affect many businesses Continue reading

Explaining spending oil and gas revenues remained unclear

Concerns over the management of oil and gas revenues by public and opposition parties, so far, there are 23 companies having been awarded rights to explore for oil and gas in Cambodia’s offshore but not all of them are operating. By the way, the public expressed worried about the Cambodia’s management of its natural resources … Continue reading

Contracts for Petroleum Development – Part 3

The flows of oil revenues are quite complex. This note presents the results of two hypothetical simulations — one a progressive production sharing regime and the other regressive – to illustrate qualitatively how they affect the amount and timing of government revenue and investors’ profits. Briefing Notes 7 and 8 [1,2] gave an overview of … Continue reading

Contracts for Petroleum Development – Part 2

Petroleum contracts are long and complex. Production sharing agreements, the type of contracts being signed in Cambodia, are no exception. However, they are important to the country’s future economic and development options and hence it would be helpful if the public had a basic understanding of how these contracts work and, in particular, how government … Continue reading

Country Experience with EITI – Part 2

TA dedicated website, appointment of a former Minister of Finance as the overall coordinator, a petroleum law requiring revenue disclosure, and a decree establishing a multi-stakeholder committee are some of the ways that the countries that have endorsed the Extractive Industries Transparency Initiative (EITI) principles are implementing EITI. This briefing note, the second in a … Continue reading

Country Experience with EITI – Part 1

Twenty-seven countries are at various stages of implementing the Extractive Industries Transparency Initiative (EITI). One of the earliest implementers, Nigeria, estimates that EITI helped increase petroleum revenues to the government by US$ 1 billion in 2004 and 2005. This note reviews the EITI implementation and related experience of some countries, focusing primarily on actions taken … Continue reading