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

Mayorga Alba, Eleodoro

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

2009

Mayorga Alba, Eleodoro

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.

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AGROVOC Keywords

accountability accounting auditing cadastre capacity building cash flow central government community development conflict of interest constitution corruption debt developing countries economic conditions economic development economic growth ei environmental impact environmental management environmental protection exchange rate expenditure extractive industries gas government agencies gross domestic product human resource management human resources income information technology investment policies land use laws local government market prices mineral resources minerals natural disasters natural resources operating costs poverty alleviation price volatility profitability prospecting public expenditure public finance public investment public sector reclamation rehabilitation savings state enterprises streams sustainable development taxation transaction costs valuation

Bibliographic information

Publisher

World Bank, Washington, DC

Other Subjects

Ei projects; Public expenditure management; Public resources; Investing; Government policy; Gas flaring reduction; Representatives; State budget; Government accounts; Geological information; Tax revenues; Debt reduction; Disclosure; Revenue transparency; Eiti; Fiscal policy; Conflicts of interest; Revenues from oil; Infrastructure investments; Extractive industries transparency initiative; Mining companies; Accounting procedures; Allocation of resources; Checks; Resource curse; Investment projects; Mining industry; Investment decisions; Shareholder; Public expenditures; Environmental regulations; Social stability; Execution; Model contracts; Macroeconomic policy; International standards; Real exchange rate; Mining projects; Regulatory capacity; Revenue collection; Affiliate; Risk capital; Dividends; Institutional arrangement; Private sector growth; Mine closure; Transaction; Transparency; Mining company; Transparent procedures; Treasury; Exploitation; Government authorities; Mineral rights; Oil; Fiscal authorities; Financial authorities; Potential investors; Fiscal decentralization; Social sectors; Small-scale mining communities; Central bank; Host government; Mining policy; Post-closure; Mining law; Tax; Mining rights; Mines; Capacity constraints; Country risks; Levels of government; Administrative procedures; National governments; Policy responses; Citizens; Commodity prices; Administrative costs; Government entities; Institutional framework; Asm; Mining operations; Public register; Revenue management; Environmental assessments; Rates of returns; Oil companies; Minerals exploration; Government revenues; Affiliates; International finance; International development; Ei development; Legal systems; Cost effectiveness; Mining sector; Ei activities; International market; Investment choices; Shareholders; Fiscal sustainability; Institutional arrangements; Government revenue; Infrastructure development; Sustainable management; Market conditions; Environmental; Fiscal discipline; Small-scale; Government level; Good governance; Artisanal and small-scale mining; Mining industries; Financial management; Authority; Local governments; Turnover; Institutional capacity; Asset management; Technical assistance; Commodity price; Social infrastructure; Human resource; Private investors; Impact assessments; Public accountability; Mining licenses; Social mitigation; Financial accounting; Environmental impact assessments; Revenue sharing; Trust fund; Revenue assignments; Policy decisions; Public finances; Closure plans; Legal framework; Government officials; National level; Resource-rich countries; Resource base; Mineral prices; Environmental impacts; Political consensus; Budget deficit; Foreign direct investments; Policy makers; Accountability mechanisms; Developing country; Regulatory framework; Audits; Monetary fund

Language

English

Format

application/pdf, text/plain

License

CC BY 3.0 IGO, http://creativecommons.org/licenses/by/3.0/igo/

In AGRIS since: 2024-10-18

Modification date: 2025-05-23

Format: Dublin Core

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This bibliographic record has been provided by World Bank

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