Comprehensive  Ghana Oil and Gas news, information, updates, analysis

News in Brief

Ghana to adopt new EITI STANDARDS

  • SOURCE: | qwesa2big
  • ghGhana is said to have embraced the new standards covering the Extracting Industry Transparency Initiative (EITI).

    According to the Resource Governance secretariat, new requirements have been included in the EITI initiative aimed at strengthening and promoting transparency in revenue management and accountability in the extractive sector.

    The new requirements as captured by the 2013 EITI report now requires that there is a production of a comprehensive EITI  reports  that include full government  disclosure  of extractive  industry revenues and disclosure of all  material payments  to government  by oil  gas  and mining  companies. The EITI report should also include contextual information about the extractive industries.

    Marie Lintzer, an official of the Resource Governance secretariat noted that in their last meeting with the EITI members, Ghana Embraced the new requirement and is working towards complying with it.
    “It is good that the requirements have changed. Now we will have much more information to digest. The reaction on the new requirement has been great. We are pushing the countries a step further to be more transparent “he stated.

    The other EITI requirements include effective oversight by the multi stakeholder group, timely publication of EITI reports, a credible assurance process applying international standards.

    It also requires EITI reports that are comprehensible, actively promoted, publicly accessible and contribute to public debate. Besides, it ensures that the multi stakeholder group takes steps to act on lessons learned and review the outcomes and impact of EITI implementation.

    Source: Kwabena Adu Koranteng/ New Crusading Guide

    Get the latest news and updates on Ghana’s oil and gas value chain by following us Reporting Oil and Gas on twitter @oilgasghana and like our facebook page and get at us on Google+. Subscribe to our group to get update

    Leave a reply

    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes ( with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Twitter Activity Stream

    Partners We are proud to be associated with:

    Skip to toolbar