Nauru

Revenue Transparency: A Priority for Good Governance and Energy Security

Across the globe, revenues from oil, gas and mining that should be funding sustainable economic development have been misappropriated and mismanaged. This Global Witness report considers five major examples of this problem: Kazakhstan, Congo Brazzaville, Angola, Equatorial Guinea and Nauru.

In these countries, governments do not provide even basic information about their revenues from natural resources. Nor do oil, mining and gas companies publish any information about payments made to governments.

The Publish What You Pay (PWYP) international coalition of NGOs welcomes the G8’s first specific statement on the importance of transparency of natural resource revenues..

The oil and mining industries are facing a global epidemic of financial scandals, with billions of dollars in revenues unaccounted-for in some of the world’s poorest countries, according to a new report by Global Witness.