This paper discusses the political economy of oil in Uganda since the announcement of its discovery in 2006. It focuses on the dynamics of oil revenue generation (pre-commercial production) and expenditure, investor-stakeholder contestation (i.e...
This paper, the first of two on global oil theft and fraud, discusses the prevalence, methods, and consequences of global oil theft, valued at US$133 billion per year and equivalent to 5–7 per cent of the global market for crude oil and petroleum...
This paper outlines how sustainable development in resource-rich countries requires an ‘all of government’ approach as well as multi-stakeholder dialogue and partnerships between government, companies, and civil society organizations. Effective...
We study Uganda’s journey to become a petroleum producer and provide estimates regarding the size and timing of the oil revenues to be expected. At an average US$38 per capita per year over a 33-year period, oil revenue by itself will not be...
The extractives industries are highly controversial but remain vitally important in much of the developing world. This paper considers their role in reducing energy poverty and discusses scenarios for the future of the global markets for oil, gas...
This paper analyses the risks facing resource-dependent countries. These include: (i) economic mismanagement (the ‘resource curse’); (ii) political mismanagement; (iii) environmental damage (climate change and the destruction of natural capital). It...
This paper argues for a change in government attitudes to their extractive industries: as enclaves useful primarily as revenue sources. This is too narrow a perspective: it fails to recognize the broader economic linkages that are invariably possible...
This paper analyses the roles that states, civil society, and international actors can play in tackling the weak governance that sometimes leads to resources being used for private rather than public benefit. It discusses the corruption that bedevils...
While market mechanisms and private initiatives can deliver much for development, public action is also necessary to: maximize the economic benefits of the extractive industries; manage potentially large capital and revenues flows; minimize adverse...
Companies in the oil, gas, and mining sectors face ever intensifying scrutiny over their environmental, social, and governance (ESG) practices and impacts: from civil society but also from investment funds and other stakeholders with ESG mandates...
Part of Book Extractive Industries
Part of Book Extractive Industries
Part of Book Extractive Industries
The extractives industries must adjust their operations to shifting patterns of demand for oil, natural gas, and coal together with metals and minerals – as policies and new technologies encourage progress along low-carbon pathways in energy...
Oil resources are neither a curse nor a blessing. The sound management of these resources can make them beneficial or otherwise. In order to translate Ghana’s oil resources into inclusive development amid high expectations, several laws and...
Part of Book Extractive Industries
Part of Book Extractive Industries
This paper analyses the evolution of fiscal and monetary variables in Ghana, from the discovery of oil in 2007 through to 2014. It documents the deterioration of fiscal and monetary discipline over this period, which resulted in a rebound of debt, a...
This paper synthesizes statistical information evidencing the proposition that extractive industries are of great significance in many low- and middle-income developing economies. It examines the scale of the current dependence of low- and middle...
In the context of falls in extractive commodities prices since 2011, this paper examines the history of thinking about the interplay between extractives and economic development. Just as ‘the resource curse’ fails as a generic explanation on account...
This paper provides an overview of social and environmental management practices in the oil and gas industry. It outlines the evolution of international oil companies’ approaches over the last 20 years, reviews what social and environmental...
Donor interest in the extractives sector is based upon the premise that it represents an opportunity to improve a country’s development prospects. However, in many cases the presence of extractive resources is associated with poor economic...
The first objective of this paper is to update earlier assessments of mineral dependence in lower-income countries. In 2018, the mining of metals and coal continued to be an important contributor to the economies of several low- and middle-income...
Part of Book Mining for Change
This second of two papers on global oil theft discusses ways to reduce oil theft, misappropriation, and fraud. At US$133 billion per year, oil is the largest stolen natural resource globally, while fuel is the most smuggled natural resource. Oil...
We show that the incorporation of offshore entities increases when oil and gas exploration licences are awarded. We exploit leaked data on the incorporation of shell companies and detailed information on tax havens and the awarding rounds of oil...
This paper is concerned with the role of oil and gas in the development of the global economy. Its focus is on the context in which oil and gas producers in both established and developing countries must frame their policies in order to optimize the...
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