-The Norwegian State’s own oil company tries to strangle new regulation that can hinder corruption and tax evasion, writes Norwegian newspaper Klassekampen.
-Statoil has gone from being an advocate for transparency to be saboteurs of the openness we want, says Norwegian Minister of Development, Heikki Holmås, to the newspaper.
In recent years Angola has dropped significantly lon Transparency Internationals corruption index, and is now getting close to the bottom. Oil related corruption has received most of the blame for this. Now Angola plans to create its own sovereign wealth fund. Could this help to put the breaks on corruption?
- Over 110 billion USD has disappeared through mispricing of crude oil in the US and the EU between 2000 and 2010.
- Profits have been moved from the source country to the extractive industry companies.
- In December 2000, the Netherlands imported crude oil for the price of 1,69 Euro per bbl. while the spot market prices were no lower than 26 Euro, resulting in an underevaluation of around 40 million Euro to the source country.
Corruption in courts and access to justice for women in Guatemala.
Jennifer Bravo, lawyer, Mujeres Transformando El Mundo (MTM), Guatemala
Summary: As a step in completing the TRACE programme, the 2010-2011-participants have worked together to produce short briefings on four selected topics: “contract transparency”, “environmental issues related to EI”, “indigenous peoples´ rights and EI”, and “illicit financial flows and secrecy jurisdictions”.
Summary: The first round of PWYP Norway’s capacity strengthening programme was concluded in December 2009. UK based INTRAC and PWYP Norway have developed a paper in the Praxis Note-series, seeking to capture the lessons learnt from the first round of the programme; a practical experience of capacity development with CSOs in seven African countries to promote greater transparency over oil revenues.
Oil, gas and mining is an important economic sector in more than 60 developing and transitional countries. Two thirds of the world’s poorest people live in these countries.
The revenues from this industry can help find a way out of poverty – but the oposite is taking place. Find out why.
A short and accessable guide to the extractive industries and the importance of transparency in the revenue streams.