Recent Articles

Earlier this year, Ugandan President Yoweri Museveni signed the Public Finance Management Act 2015 into law and created one of the world's newest sovereign wealth funds. While the law provides a solid framework for effective governance, several key elements are missing—elements that would determine whether Uganda will truly benefit from its oil windfalls.

This week, 29 participants from 13 countries — including Ghana, Chile, Uganda, Myanmar, Mongolia and Guinea — are taking part in our third annual Executive Course in Oil, Gas and Mining Governance in Oxford.

Parliamentarians have a crucial role to play in reviewing legislation on oil, gas and minerals, and in overseeing the government’s management of these extractive sectors. For instance, in Ghana members of parliament are actively overseeing the projections and allocations of oil revenues by scrutinizing compliance with the Petroleum Revenue Management Act...

Poor governance and systemic corruption are prevalent in many resource-rich countries. Given their highly concentrated and highly profitable nature, the oil, gas and mining industries can generate the kind of political and private incentives that favor rent-seeking and institutional (or state) capture.

Citizens from resource-rich African countries are showing ever-greater interest in the management of extractive resources. Civil society members and journalists are demanding transparency and accountability.

Lack of transparency about complex, often secretive structures. Clandestine, opaque relationships with government officials. These factors exacerbate the risks that beneficial owners of some extractive companies could easily engage in tax evasion, transfer pricing, trade mispricing, bribery, contract fraud and money laundering.