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Promoting Revenue Transparency Project
TI calls on leading oil and gas companies to increase revenue transparency
New report shows companies should provide greater accountability
A majority of leading oil and gas companies are far from transparent when it comes to the payments they make to resource-rich countries, leaving the door open to corruption and hampering efforts to fight poverty, according to a report published today by Transparency International (TI).
Download centre: Report and related material
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| Report Summary |
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Backgrounder
Fact Sheet on the Oil and Gas Sector
In Focus
| Introduction |
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- Current project developments
- The Project
- 2008 Report on Revenue Transparency of Oil and Gas Companies
- Host Governments Report
- How does the Promoting Revenue Transparency Project complement the Extractive Industries Transparency Initiative?
- In Focus: Explaining Revenue Transparency
The Promoting Revenue Transparency Project is run by Transparency International in partnership with the Revenue Watch Institute and builds on the work of the Save the Children UK ‘Beyond the Rhetoric’ report from 2005.The Promoting Revenue Transparency Project seeks to raise awareness in both government and the private sector of the various steps required for revenue transparency to be achieved, sustained and mainstreamed.
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| Oil, gas and minerals, or the ‘extractive industries’ generate great wealth. Oil export revenues alone were estimated at USD $866 billion for 2006[1]. This represents approximately 1.8% of the World’s Gross Domestic Product (GDP) for that year and more than half of the combined GDP of the 53 lowest income nations in the same time period.[2]. |
High revenues from the extractive industries have often fuelled corruption, economic stagnation, inequality and conflict. This paradox has been labelled the ‘resource curse’. One step towards reversing this curse lies in the transparent and accountable management of revenues generated from the extractive industries. For more information, click below or navigate using the left hand menu.
Footnotes
[1] Nominal billion of dollars. Source: US Energy Information Agency (EIA). OPEC Revenues Fact Sheet and Major Non-OPEC Revenues, Jan. 2006.
[2] Current World GDP in billions of dollars for 2006 is $48.245 and for Low Income Countries is $1.612. Source: World Development indicators 2006, World Bank. Calculations are ours.
