Angola should increase the transparency of the roles played by the different institutions operating in the oil sector and focus on the domestic processing of oil, said a recent report from the African Development Bank (ADB).
Read MoreThe international EITI Board today recognized Burkina Faso’s efforts to improve natural resource governance through the EITI Standard. The Board concluded that the country had made meaningful progress in meeting the EITI requirements. The Board welcomed recent reforms to improve the governance of the sector through better reporting and stronger oversight over the redistribution of revenues to local communities.
Read MoreMozambique’s recently published sixth EITI Report, covering 2013 and 2014, shows that the mining and hydrocarbon industries accounted for 27% of total government revenue in 2014. The gas sector contributed 90% of the over USD 1 billion total extractives revenue in 2014.
Read MoreMozambique must strengthen the implementation of reforms to improve its fiscal transparency, considering the macroeconomic challenges facing the country, particularly in the area of natural resources, the International Monetary Fund recommended.
Read MoreThe Government of Victoria, Australia, launched an online tool maps showing the location of mineral rights and oil throughout the state. With this device, the Mining Board of Victoria (MCA, its acronym in English) aims to increase the transparency of the sector activities, showing details of the right holder, the type of commodity that can be explored and the dates on which the license or concessions were obtained by holders.(The Newsroom)
Read MoreTanzania’s mining industry is currently facing several key challenges, including the need to attract investment for exploration in a difficult financial climate, compounded by regulatory uncertainty discouraging additional investment, states law firm Norton Rose Fulbright Tanzania director Adam Lovett.
Read MoreAt the “Mozambique – Japan Investment Forum” in Maputo, attended by Japanese Prime Minister Shinzo Abe and President of Mozambique Armando Guebuza, JOGMEC, ENH and MITSUI signed a JSA to apply JAPAN-GTL process with the aim of the utilization of the gas produced from offshore Mozambique. JOGMEC and MITSUI have begun studying how to progress specifically with the joint study. JOGMEC visited Mozambique early March to launch the work at the local site under the…
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