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Tag Archives: Oil production
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
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
Avoiding the Resource Curse
Many resource-rich countries have fallen prey to the natural resource curse [1]. But a handful of developing countries have managed to escape it. This note examines four resource-rich countries and the policies they have followed since the beginning of the 1970s. One, Nigeria, is a well-publicized case of oil wealth impoverishing rather than enriching the … Continue reading
Extractive Industries Transparency Initiative
Founded on the belief that promoting revenue transparency in resource-rich countries is one of the fundamental building blocks for sustainable economic growth and poverty alleviation, the Extractive Industries Transparency Initiative (EITI) [1] was launched in Johannesburg at the World Summit on Sustainable Development in 2002. EITI aims to improve governance in oil, gas, and minerals-rich … Continue reading
Oil Resource Holds Hope for Cambodia’s Future Wealth
The impending development of off shore oil fields discovered in Cambodia’s territorial waters, and continuing onshore exploration, may herald big changes to the country’s economy. A joint ADB and World Bank Oil and Gas Mission visited Cambodia recently. During their visit the World Bank Newsletter had the opportunity to interview Ms Masami Kojima, Lead Energy … Continue reading
