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Policy Position 05/2008: Enhancing Revenue Transparency in Oil & Gas Company Reporting

The natural resource revenues of a country should be used for the profit of its people and contribute to national development. Securing access to revenue information will make civil society better equipped to hold policy makers accountable for actions on related development decisions — both where companies are based and where they operate. Yet companies and governments need to provide greater and better quality information on extractive industry revenues from oil, gas and mining. Disclosure must include the funds producers pay to governments in return for permission to operate in their countries as well as budgetary data on how states use these monies. Such data will provide citizens with key evidence needed to pressure governments in resource- rich countries to utilise these revenues for the benefit of all.