The announcement was made during a meeting of EITI Board of Directors at Oslo in February.
FORBES: Congo And Burkina Faso Declared Countries 'In Conformity' With EITI
This new EITI country in conformity standing signifies a positive step towards stability in these markets.
FORBES: Congo And Burkina Faso Declared Countries 'In Conformity' With EITI
For more information on EITI in Congo, please visit its EITI country page.
FORBES: Congo And Burkina Faso Declared Countries 'In Conformity' With EITI
Rather, it agreed to endorse only the principles underpinning the EITI, making its rules non-binding.
In such an environment, the information that an EITI can gather and disseminate is a double-edged sword.
FORBES: The 'Resource Curse:' Uganda's Upcoming Oil Wealth is a Global Challenge on Multiple Fronts
The oil and gas industry has long been a strong supporter of transparency and deeply involved in the Extractive Industries Transparency Initiative (EITI).
The Extractive Industries Transparency Initiative (EITI) is a multinational association of 35 countries supported by 60 major oil, gas, and mining companies.
FORBES: The 'Resource Curse:' Uganda's Upcoming Oil Wealth is a Global Challenge on Multiple Fronts
These figures, compiled within the EITI reports, allow the citizens of these countries to see how much their government receives from their natural resources.
FORBES: Congo And Burkina Faso Declared Countries 'In Conformity' With EITI
The national Coordinator of the Congo EITI, Mr. Florent Michel Okoko, has stated that oil was providing the majority of income for the government.
FORBES: Congo And Burkina Faso Declared Countries 'In Conformity' With EITI
EITI, there is some evidence that it has reduced corruption in Nigeria, according to Mr MacGillivray, though it may be just shifting the graft to other ministries.
ExxonMobil, ConocoPhillips, Chevron, Alcoa, DeBeers and 33 other companies are supporters of the Extractive Industries Transparency Initiative (EITI), an international effort by businesses, countries and non-governmental organizations to shed light on what companies pay to governments for a share of their natural resources.
ExxonMobil, ConocoPhillips, Chevron, Alcoa (nyse: AA - news - people ), DeBeers and 33 other companies are supporters of the Extractive Industries Transparency Initiative (EITI), an international effort by businesses, countries and non-governmental organizations to shed light on what companies pay to governments for a share of their natural resources.
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