Recent Articles

In a letter to Revenue Watch Director Karin Lissakers, U.S. Senator Richard Lugar notes RWI's exceptional efforts in securing the new extractive industry reporting requirements for all U.S. and foreign companies registered with the Securities and Exchange Commission (SEC).
Revenue Watch Director Karin Lissakers responds to a recent Wall Street Journal article on the new energy sector reporting rules in the Dodd-Frank Wall Street Reform Act, calling on oil companies to demonstrate their commitment to a more level competitive field by supporting global standards for better disclosure practices.
A new U.S. initiative against corruption by senior foreign officials marks a major step forward in protecting natural resource revenues and safeguarding the interests of citizens in resource-rich countries, the Revenue Watch Institute said today.
A U.S. audit that found the U.S. Department of Defense unable to account properly for 96 percent of $9.1 billion in Iraqi funds from the sale of Iraq's oil underscores the need for Iraq's new government to adopt strong, transparent controls on oil revenues and spending if the country's oil industry is to fuel economic development rather than conflict.
Among the financial reforms approved by Congress in the Dodd-Frank Wall Street Reform and Consumer Protection Act is a measure that requires all companies registered with the Securities and Exchange Commission to report the amounts they pay to governments for access to oil, gas and minerals. The law gives investors and citizens new tools to hold companies and governments accountable.
The Wall Street reforms passed by Congress include historic transparency rule changes for the oil and mining industry, giving investors and citizens new tools to hold companies and governments accountable for their actions. Revenue Watch Director Karin Lissakers called the victory "the culmination of a long campaign by Revenue Watch and the Publish What You Pay coalition to make extractive industry activities truly transparent, in the U.S. and abroad."
RWI's Latin America team delivers fresh news and insight. In issue June 30, Ecuador faces the long road to hydrocarbon contract renegotiation; Bolivia and Brazil increase investment to raise oil production; and Peru's rivers suffer from oil and mining pollution.
Despite an ongoing military conflict, Afghanistan has worked since 2009 to build a mining sector that can provide sustainable wealth, passing a new hydrocarbons law and committing to implement the Extractive Industries Transparency Initiative. With the discovery of new mineral deposits worth an estimated one trillion dollars, the stakes for creating sound and accountable minerals management just got higher. Karin Lissakers describes steps that Afghan leaders can take to make the promised windfall a tool for national stability.
On the tenth anniversary of the Chad-Cameroon pipeline project, filmmaker Christiane Badgley reports from the beach town of Kribi, a Cameroonian city that stood to benefit from the pipeline project. Seven years after oil began flowing, Badgely says the town seems "untouched by any new oil wealth." (FRONTLINE/WORLD)
Development is underway for a new International Financial Reporting Standard that could make oil, gas and mining companies publish what they pay to governments for country in which they operate. Learn how you can take action to help secure important reporting reforms this June and July.
A new report by PricewaterhouseCoopers (PWC) surveys the contributions made by mining companies to public finances, offering details on various forms of taxes and contributions, and suggestions for how companies could benefit from increased transparency in reporting their tax affairs.
A proposal by U.S. Senators Richard Lugar and Ben Cardin would require any company listed on the U.S. Securities and Exchange Commission to disclose payments to governments for access to natural resources. As Congress debates this amendment to financial reform legislation, and the best response to the BP oil spill, RWI Director Karin Lissakers explains the urgent need for legal reform to ensure extractive sector transparency and accountability. Read more at The Huffington Post ...
In late March, Oil & Gas Journal editor Bob Tippee spoke to a gathering of the Gas Processors Association (GPA) on the necessity of renewing a once-vibrant corporate conversation on the concept of the extractive industry's "license to operate." In an eloquent call to action, Tippee noted the important role that the Revenue Watch Institute has played in maintaining an emphasis on transparency in extractive industry contracting. Praising the insights of recent RWI report Contracts Confidential, Tippee exhorted GPA members to open their contracts up for public oversight, and transform them from objects of secrecy into vehicles for building trust.
Revenue Watch's Indonesian partner, PATTIRO, together with researcher Laura Paler of Columbia University and NGO LPAW, conducted an innovative grassroots campaign to raise awareness about government management of public finances at the local level.
Carlos Monge, RWI Latin America Regional Coordinator, and colleagues deliver fresh news and insight. In issue April 30, the Tía María mining project sparks a debate about the use of water and territory; the Bolivian government collects warranty payments from Jindal Steel; debates are underway on the distribution of royalties from Pre-sal in Brazil; Ecuador's President Rafael Correa pushes for new contracts; and more.
Revenue Watch Institute Chairman Anthony Richter testified before the U.S. Helsinki Commission on Capitol Hill at a hearing on the links between revenue transparency and human rights. The commission convened the hearing as the Senate considers related extractive industry transparency legislation introduced by the commission's co-chair Senator Ben Cardin and Senator Richard Lugar, the Energy Security Through Transparency (ESTT) Act.
The global movement for accountable natural resource management gained ground today as the Extractive Industries Transparency Initiative (EITI) resolved questions over the status of 18 countries that had missed a key deadline in the voluntary program. At a meeting in Berlin, Germany, the EITI International Board decided on limited extensions for 16 countries to complete their reporting and validation processes, including Kazakhstan, Timor Leste and Ghana.
Revenue Watch joins Amnesty International in calling for an immediate investigation into the illegal assault and detention of three Nigerian civil society activists by police on April 5. Three activists from the nonprofit group Social Action, which promotes citizen participation in the management of resource extraction, trade and investment that affect human rights, democracy and livelihoods, were violently stopped and arrested without explanation by police as they left their office.
The International Accounting Standards Board (IASB) took important steps on April 6 to improve reporting and disclosure by the oil, gas and mining industries. But extractive industry experts said the proposals have been weakened by pressure from companies and have yet to clearly recommend reporting of the full information that investors and citizens need.
In late February, United Kingdom MP Chris Mullin of the Labour Party introduced an early day motion in Parliament urging the government to consider adopting legislation requiring extractive companies to fully disclose revenue payments to governments. A joint letter from six civil society groups exhorted MPs to "assist the struggle against corruption in the oil, gas and mining industries of the world" by supporting the measure, which could also go far in encouraging the US Congress to pass its Energy Security Through Transparency Act.
The Revenue Watch Institute is pleased to sponsor an exhibition by photographer Ed Kashi at the HOST Gallery in London. On display from March 8 through April 3, the exhibit Curse of the Black Gold, documents the consequences of a half-century of oil exploration in a region that holds Africa's largest oil reserves, but offers a stark example of the perils of resource abundance. Kashi's images capture local leaders, militants, oil workers and villagers living in the oil-rich Niger Delta.
Washington, D.C.—As Senate investigators announced details of oil profiteering schemes among foreign officials, leading U.S. and international experts renewed their call for passage of legislation drafted to protect U.S. energy security and block acts of corruption that circumvent existing anti-corruption rules.
RWI partner Oxfam America has created a two-minute animated short, "Follow the money," to help support the Energy Security Through Transparency Act. "Follow the money" demonstrates the consequences of buying gas every day: where the money goes, and why citizens in oil-producing nations often don't see the profits when U.S. gas prices soar.
The Revenue Watch Institute congratulated Norwegian officials and transparency campaigners today as the nation's Extractive Industries Transparency Initiative (EITI) issued its first report, publishing all payments of taxes and fees made by oil companies to the government in 2008.
On BBC's "The World Tonight" program, RWI Africa Regional Coordinator Emmanuel Kuyole and Radhika Sarin of Publish What You Pay International discuss the challenges of responsible natural resource management and how citizens and leaders from Ghana to Ecuador are working to make the most of their resource wealth.