Publish What You Pay 

Email Update May 11th 2011



Ghana contracts available

Contract transparency is a crucial component in the quest for a responsible and fair management of natural resources. Without contract transparency a citizen will not be able to judge whether the price obtained for her natural resources are fair. Unnecessary contract negotiations caused by opacity can contribute to a lack of trust in a country’s investment climate. 

The fight for contracts transparency received a boost last week, when oil contracts related to the Jubilee field in Ghana were made public and available to download on the US’ Securities and Exchange Commission website.  All of these contracts pertain to deals between Kosmos and the Ghanaian government, and were released as part of Kosmos’ Initial Public Offering filing with the US Securities and Exchange Commission. Although the SEC does not require contract transparency, Ian Gary from Oxfam USA suggests that ‘Kosmos felt the need to disclose these agreements since so much of the company's value is tied up in their share of one asset - the Jubilee field - and investors would want the agreements to properly value the company’. We also head that Ghana's Energy Minister Joe Oteng-Adjei announced during Danida Development Days (see below) that all of Ghana's oil contracts will be posted on the government website shortly.

For a more detailed analysis on Kosmos, contracts and the Jubilee Field read this blog (Goxi – members only)

For more on Ghana's latest transparency successes, please click here 

For links to the contracts themselves, please click here.


Iraqi citizens join call for extractive industry transparency

Revenue Monitoring is one of the important topics on the Iraqi scene today. I have worked in many companies and organizations, and I am aware that many local companies are not tracking their businesses financial revenues because they “leave it to God”. They see no need for financial reports or even financial planning, since this is likely to raise concern or attract envy. Government entities are not much different, in spite of the existence of an accounting system in place for many years now, the purpose of which was to clear the conscience of civil servants, and not control or evaluation. Very often this system is ignored, in ways and means known to everyone.

When Transparency International’s 2009 periodic report was issued, classifying states based on transparency levels, Iraq ranked 176th out of 180. This means that it is the 5th worst state among those covered by the report. In a positive reaction, the Iraqi government applied to join EITI. The EITI Board accepted Iraq (as a candidate) on February 10th 2010. The performance of the Iraqi government will be validated by February 2012, ensuring that it complies with minimum standards and fundamental principles of the EITI...

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Global Investors for Financial Transparency  - The Oslo Dialogue Meeting

Oslo – On 23 May 2011 Publish What You Pay Norway is hosting a high-level investors meeting to discuss the move towards extractive reporting requirements in the EU and the US and discuss potential Norwegian implementation. The event is also sponsored by Revenue Watch Institute and the Norwegian ministry of foreign affairs. The event will comprise of a public presentation with key speakers outlining the current status of extractive industry reporting in the US and the EU and a technical roundtable on Norwegian implementation for Norwegian regulators. Participants will include Roger Schjerva, Norwegian state secretary in the Ministry of Finance and Ingrid Fiskaa, state secretary in the Norwegian Ministry of Foreign Affairs. Visit PWYP Norway’s website for write ups and videos after the event. 

Renewed energy in Australia’s campaign for transparency  

On 10 June 2011 PWYP Australia will be holding an information and strategy development workshop designed to broaden and strengthen the coalition in the country. Participants will discuss the advantages of an Australian PWYP coalition, examine national coalition case studies and have a strategy brainstorm on the focus and governance of PWYP Australia’s campaign.

This strategy meeting comes at an important time in Australia’s campaign for transparency in the extractive industry. After several calls for Australia to join EITI, an EITI pilot project was recently proposed and – with government members voicing support –an official announcement is expected soon. PWYP Australia will also be looking at ways for the Australian Securities regulator to adopt legislation similar to the Dodd-Frank Act and to the legislation being suggested by European leaders. As a country rich in resources and home to some of the biggest players in the extractive industry, a strong involvement by Australia is very welcome in the push for a globally responsible and accountable management of natural resources. 

Danida Development Days

Copenhagen - On 2-3 May, the Danish ministry of foreign affairs explored Africa in development days called Africa’s resources – Lions on the move. With a focus on natural resources, events explored the importance of Global Transparency Initiatives for Africa as well as the potential for natural resources to constitute an opportunity rather than a curse.
That the development days focussed on these themes bodes well, as Denmark will hold the EU presidency in the first half of 2012. The Danish government is expected to present its priorities for the EU presidency in December 2011. With a commitment pledged by the French and British governments for EU level extractive industry disclosure legislation similar, the inclusion of transparency in natural resource management in Denmark’s presidency priorities would cement 2012 as a crucial year for Europe’s campaign for transparency in the extractive sector.
A Danish international oil and gas company, Maersk Oil, has also become the latest EITI supporting company.
Click here to view videos and presentations of the conference

Job Opps


Greenpeace Africa - Executive Director

Greenpeace Africa seeks an African National with an unshakeable commitment to its core values. The Executive Director will lead Greenpeace Africa at the forefront of environmentalism to enhance its position as an active catalyst for positive responses to global environmental threats. This position is accountable to the Board of Greenpeace Africa.

Please click here for more information and how to apply


Revenue Watch Institute -  Consultant: Local Content and Value-Added in the Extractive Sector

The Revenue Watch Institute (RWI) is searching for a graduate student or recent graduate to conduct research and contribute to the development of training modules on local content, technology transfer and value-added in the extractive sector.Ideally, the work would take place over the summer.

Please click here for more information and how to apply