Recent Articles

Indonesia’s petroleum and mining sectors helped power the country’s transition to middle-income status. As considerable drivers of Indonesia’s annual economic growth, extractive industries contribute about a third of exports and state revenues, generate hundreds of thousands of jobs, and fuel the growth of non-resource-based industries.

China has been included in the Top 10 list of foreign investors in Indonesia since 2014. As in many other countries, China’s interest in Indonesia is in its energy and mining sectors; more than half of its total investment has been directed toward extractive industries.

Nowhere is the importance – or the challenge – of state-owned economic enterprise management clearer than in the oil and gas sector. While Myanmar’s continued economic opening should attract more investment in this sector, these SEEs already wield outsized influence over public finances.

The prolonged oil slump that began in mid-2014 has made things complicated for Azerbaijan. The rapid decrease of oil revenues—the country’s main economic driver for the past 10 years—poses real threats to macroeconomic and financial stability in Azerbaijan.

In this era of low commodity prices, oil- and mineral-rich governments in Eurasia are under acute financial pressure.

Ukraine released its first Extractive Industries Transparency Initiative report in December 2015, an important step forward in resource governance for the country. Its publication coincided with the EITI International Secretariat meeting in the country and related events in Odessa and the capital, Kiev.

Ghana’s Minister of Finance recently presented the country’s 2016 budget, titled “Consolidating Progress Towards a Brighter Medium Term.” As the title of the budget reflects, 2015 has been a turbulent year for Ghana’s public finances. One setback was the continued drop in oil prices—a major shock since Ghana has been exporting petroleum since 2011...

NRGI’s blog received tens of thousands of unique visits this year. Below, we share the 10 most-read blog pieces of 2015. From country-specific perspectives to globally relevant policy discussions, NRGI experts offered news, insight and prescriptions over the course of the year.

In the last decade, governments of resource-rich countries like Zambia, Guinea and Mongolia have struggled to tax their extractive industries more effectively. It is a tall order—countries must design an inescapable tax regime that taxes companies more in times of high profits and allows some relief in periods when gains are low.

The large fall in the price of oil since mid-2014 is on the whole good news for Tanzania, which is a net importer of oil. Indeed, Tanzanian stocks are around 40 percent higher than when oil prices began falling from a peak of $115 a barrel on June 19 last year...

While headlines still narrate a woeful tale of conflict in oil-rich Libya, many actors are hard at work planning for the country’s future, once peace prevails.

NRGI president and CEO Daniel Kaufmann, who co-produces the Worldwide Governance Indicators published by the World Bank, discussed his recent article “Corruption Matters” with the IMF’s Bruce Edwards. Published in September in Finance & Development, the piece discusses the larger themes of governance and corruption in Latin America and elsewhere.

Confronting corruption in Latin America--one of the great development challenges the region faces--means understanding the shape it takes in respective nations. NRGI has addressed the topic extensively in the last months.

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.

The UK and Norway oil and gas sectors provide an ideal comparison through which to compare the outcomes from different approaches to oil sector governance. The two countries have equivalent geology and a similar resource base – the North Sea Basin is effectively split down the middle between them.

The State Oil Fund of the Azerbaijan Republic (SOFAZ) was created in 1999 to promote macroeconomic stability, preserve oil revenues for future generations and channel Azerbaijan’s resource wealth into more productive assets...

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.

For the first time since it won in 1990, the National League for Democracy (NLD), led by Aung San Suu Kyi, will be contesting a general election. (The NLD won 43 out of 45 seats in a 2012 by-election.) Should the party or a coalition of opposition parties win, Myanmar will have its first majority civilian government in Myanmar in 53 years.

When we think about the “resource curse,” one oft-cited example is oil-rich Venezuela. Despite copious petroleum reserves, people in one of Latin America's top hydrocarbon producers queue for hours outside supermarkets to buy staple foods, and now cite food shortages as a bigger concern than crime.

Crystol Energy founder Dr. Carole Nakhle discusses the changing contractual and fiscal environment for producer countries – particularly in the MENA region – amid a lengthy oil slump.

Nigeria's President recently announced that former ExxonMobil executive Emmanuel Ibe Kachikwu will head the national oil company, the Nigerian National Petroleum Corporation (NNPC). Eight top NNPC officials were sacked, and the head of crude oil marketing was “reassigned.” A list of fresh appointments soon followed.

In June NRGI’s regional office in Eurasia brought together more than 25 multi-stakeholder group (MSG) members from five countries for a collaborative training session on analysis of Extractive Industries Transparency Initiative (EITI) report data. The training took into account a number of EITI reports expected by the end of year.

Less than five years after the surge of optimism that accompanied first oil, Ghana’s economic situation has rapidly worsened. Ghana is now often cited as a cautionary tale of how not to manage public finances.