June 2018 News and Analysis from NRGI

News from NRGI
29 June 2018

Highlights

Can Petronia Avoid the Resource Curse? It’s All Up to You in a New Interactive Online Course

This online simulation explores the policy challenges in the Republic of Petronia, a fictional developing country that has made a potentially game-changing oil discovery. Join a team of experts deployed to advise the country’s policy-makers in a series of missions exploring different aspects of resource governance over time. Learn more about Petronia here and play the game here.

Open Contracting for Oil, Gas and Mineral Rights: Shining a Light on Good Practice

Deals in the oil, gas and mining sectors may be worth billions of dollars over decades. Yet there is surprisingly little systematic guidance for ensuring transparency in allocating and managing the rights to explore for and exploit natural resources. This new report, produced in collaboration with the Open Contracting Partnership, takes readers through key recommendations for how to make extractive contracting more transparent. (Read more in this blog post.)

Nigeria Petroleum Contracts Should Be Disclosed. Here are Four Ways to Make That Happen.
This report from NRGI specifies why Nigeria's oil contracts should be published, what type of documents should be released, and how the government can do it.

Tool

World Economic Outlook Forecast Tracker

In order to assess how countries cope with resource sector volatility and uncertainty, NRGI has created a tool to look back on previous International Monetary Fund World Economic Outlook forecasts and compare those forecasts to actual outcomes. Read more about the tool here.

Publications

How Did Fiscal Rules Hold Up in the Commodity Price Crash?
The authors of this paper reviewed the use of fiscal rules across countries assessed in the Resource Governance Index. For each of the 34 RGI countries with fiscal rules, they reviewed the evidence on the rule’s characteristics, the compliance with the rule and oversight of this compliance. The research provides new insight into how these fiscal rules performed during serious economic shocks.

Should the Government of the Kyrgyz Republic Impose a Tax on Gold Ores and Concentrates?

The mining industry in the Kyrgyz Republic is at a critical juncture. Most of the country’s mineral production is forecast to cease in 2026 unless there is new investment. This makes understanding the impact of a value addition policy important. If a policy substantially increases industry costs, it may deter investment and lower production, thus reducing the amount of concentrate fed to processing plants and the benefits the country currently enjoys.

An Economic Evaluation of Gold Mining Tax Regimes in the Kyrgyz Republic
Without more investment in the mining industry, mineral production in the Kyrgyz Republic will decline over the next decade. If the government wishes to maintain tax revenues from mining, or preferably to increase them, the country needs a tax regime that attracts investment while generating revenue.

Blog

Three Reasons to Use the U.N.'s New Extractives Tax Guide
The U.N. tax committee's new guide is a strong tool that everyone interested in the taxation of oil, gas and mining should read.

Don’t Underestimate Resource Governance in Myanmar’s Peace Process

The Myanmar government should address the resource sector’s broad social, environmental and governance challenges as a means to breathe new life into the peace process.

How Good are Sovereign Wealth Funds at Investing Money Made from Natural Resources?
Governments around the world held about USD 3.7 trillion in oil, gas and mineral wealth in sovereign wealth funds at the end of 2016. But is it well managed?

Governance Lessons for a Just Energy Transition: New Energy Plugs into Old Problems
The rise of affordable and renewable energy marks a new era, but brings with it some of society’s enduring problems. Fortunately, much has been learned about the nexus of poverty, corruption and inequality that is relevant to the exploitation of energy resources.

Civil Society Helps Tunisia Toward a Multi-stakeholder Approach in Extractives Governance
NRGI is working with the country's anticorruption commission to ensure that civil society is well represented as Tunisia moves toward implementation of the Extractive Industries Transparency Initiative.

Défis de la gouvernance foncière en plein boom minier en Guinée

Events and fellowships

Open Government Partnership Global Summit
NRGI experts will participate in a series of events at the Open Government Partnership Global Summit in Tbilisi, Georgia, 16-19 July.

Last Chance to Apply for the Tanzania Resource Governance Reporting Fellowship
This fellowship is uniquely designed to support up to three senior or mid-career journalists to deepen their mastery of oil, gas and mining reporting through a tailored professional capacity development program over a nine-month period. Apply by 2 July.