Extractive Industries Value Chain : A Comprehensive Integrated Approach to Developing Extractive Industries

Proper stewardship of revenue from the oil, gas, and mining industries has tremendous potential to lift people out of poverty and contribute to sustainable development. These industries create jobs directly and indirectly, transfer technologies and knowledge, and generate significant income. These benefits provide governments with a financial base for infrastructure development and social service delivery. The extractive industries, and the petroleum sector in particular, are known for generating high economic rent the difference between the value and cost of production and the government's share of this rent can be very large in times of high commodity prices, as in the last several years. The Extractive Industries Transparency Initiative (EITI) seeks to help resource-rich countries maximize the development gains from the exploitation of their oil, gas, and mineral resources by encouraging greater EI revenue transparency. Through the verification and full publication of payments made by companies and revenues from oil, gas, and mining received by governments, the EITI helps to safeguard against corruption and provides a powerful illustration of voluntary engagement of governments, industry, civil society and other stakeholders to establish a locally implemented global standard. This paper describes steps to improve EI revenue management, transparency, and accountability at each link of the value chain.

Bibliographic Details

Main Author:	Mayorga Alba, Eleodoro
Language:	English en_US
Published:	World Bank, Washington, DC 2009-03
Subjects:	ACCOUNTABILITY, ACCOUNTABILITY MECHANISMS, ACCOUNTING, ACCOUNTING PROCEDURES, ADMINISTRATIVE COSTS, ADMINISTRATIVE PROCEDURES, AFFILIATE, AFFILIATES, ALLOCATION OF RESOURCES, ARTISANAL AND SMALL-SCALE MINING, ASM, ASSET MANAGEMENT, AUDITING, AUDITS, AUTHORITY, BUDGET DEFICIT, CADASTRE, CAPACITY BUILDING, CAPACITY CONSTRAINTS, CASH FLOW, CENTRAL BANK, CENTRAL GOVERNMENT, CHECKS, CITIZENS, CLOSURE PLANS, COMMODITY PRICE, COMMODITY PRICES, COMMUNITY DEVELOPMENT, CONFLICT OF INTEREST, CONFLICTS OF INTEREST, CONSTITUTION, CORRUPTION, COST EFFECTIVENESS, COUNTRY RISKS, DEBT, DEBT REDUCTION, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DISCLOSURE, DIVIDENDS, ECONOMIC CONDITIONS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, EI, EI ACTIVITIES, EI DEVELOPMENT, EI PROJECTS, EITI, ENVIRONMENTAL, ENVIRONMENTAL ASSESSMENTS, ENVIRONMENTAL IMPACT, ENVIRONMENTAL IMPACT ASSESSMENTS, ENVIRONMENTAL IMPACTS, ENVIRONMENTAL MANAGEMENT, ENVIRONMENTAL PROTECTION, ENVIRONMENTAL REGULATIONS, EXCHANGE RATE, EXECUTION, EXPENDITURE, EXPLOITATION, EXTRACTIVE INDUSTRIES, EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE, FINANCIAL ACCOUNTING, FINANCIAL AUTHORITIES, FINANCIAL MANAGEMENT, FISCAL AUTHORITIES, FISCAL DECENTRALIZATION, FISCAL DISCIPLINE, FISCAL POLICY, FISCAL SUSTAINABILITY, FOREIGN DIRECT INVESTMENTS, GAS, GAS FLARING REDUCTION, GEOLOGICAL INFORMATION, GOOD GOVERNANCE, GOVERNMENT ACCOUNTS, GOVERNMENT AGENCIES, GOVERNMENT AUTHORITIES, GOVERNMENT ENTITIES, GOVERNMENT LEVEL, GOVERNMENT OFFICIALS, GOVERNMENT POLICY, GOVERNMENT REVENUE, GOVERNMENT REVENUES, GROSS DOMESTIC PRODUCT, HOST GOVERNMENT, HUMAN RESOURCE, HUMAN RESOURCE MANAGEMENT, HUMAN RESOURCES, IMPACT ASSESSMENTS, INCOME, INFORMATION TECHNOLOGY, INFRASTRUCTURE DEVELOPMENT, INFRASTRUCTURE INVESTMENTS, INSTITUTIONAL ARRANGEMENT, INSTITUTIONAL ARRANGEMENTS, INSTITUTIONAL CAPACITY, INSTITUTIONAL FRAMEWORK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL FINANCE, INTERNATIONAL MARKET, INTERNATIONAL STANDARDS, INVESTING, INVESTMENT CHOICES, INVESTMENT DECISIONS, INVESTMENT POLICIES, INVESTMENT PROJECTS, LAND USE, LAWS, LEGAL FRAMEWORK, LEGAL SYSTEMS, LEVELS OF GOVERNMENT, LOCAL GOVERNMENT, LOCAL GOVERNMENTS, MACROECONOMIC POLICY, MARKET CONDITIONS, MARKET PRICES, MINE CLOSURE, MINERAL PRICES, MINERAL RESOURCES, MINERAL RIGHTS, MINERALS, MINERALS EXPLORATION, MINES, MINING COMPANIES, MINING COMPANY, MINING INDUSTRIES, MINING INDUSTRY, MINING LAW, MINING LICENSES, MINING OPERATIONS, MINING POLICY, MINING PROJECTS, MINING RIGHTS, MINING SECTOR, MODEL CONTRACTS, MONETARY FUND, NATIONAL GOVERNMENTS, NATIONAL LEVEL, NATURAL DISASTERS, NATURAL RESOURCES, OIL, OIL COMPANIES, OPERATING COSTS, POLICY DECISIONS, POLICY MAKERS, POLICY RESPONSES, POLITICAL CONSENSUS, POST-CLOSURE, POTENTIAL INVESTORS, POVERTY ALLEVIATION, PRICE VOLATILITY, PRIVATE INVESTORS, PRIVATE SECTOR GROWTH, PROFITABILITY, PROSPECTING, PUBLIC ACCOUNTABILITY, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC INVESTMENT, PUBLIC REGISTER, PUBLIC RESOURCES, PUBLIC SECTOR, RATES OF RETURNS, REAL EXCHANGE RATE, RECLAMATION, REGULATORY CAPACITY, REGULATORY FRAMEWORK, REHABILITATION, REPRESENTATIVES, RESOURCE BASE, RESOURCE CURSE, RESOURCE-RICH COUNTRIES, REVENUE ASSIGNMENTS, REVENUE COLLECTION, REVENUE MANAGEMENT, REVENUE SHARING, REVENUE TRANSPARENCY, REVENUES FROM OIL, RISK CAPITAL, SAVINGS, SHAREHOLDER, SHAREHOLDERS, SMALL-SCALE, SMALL-SCALE MINING COMMUNITIES, SOCIAL INFRASTRUCTURE, SOCIAL MITIGATION, SOCIAL SECTORS, SOCIAL STABILITY, STATE BUDGET, STATE ENTERPRISES, STREAMS, SUSTAINABLE DEVELOPMENT, SUSTAINABLE MANAGEMENT, TAX, TAX REVENUES, TAXATION, TECHNICAL ASSISTANCE, TRANSACTION, TRANSACTION COSTS, TRANSPARENCY, TRANSPARENT PROCEDURES, TREASURY, TRUST FUND, TURNOVER, VALUATION,
Online Access:	http://documents.worldbank.org/curated/en/2009/03/10532729/extractive-industries-value-chain-comprehensive-integrated-approach-developing-extractive-industries https://hdl.handle.net/10986/18400
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