a new path for managing the governance of oil revenues

A new website aims to assemble the world’s largest open database of national oil company operational and financial information.

Jan 15, 2025Petroleum revenue contributed 4 per cent of the government’s total capital spending in 2025. The funds went mainly to investments in road infrastructure, but also to

Statistically speaking, oil revenues constitute 98% of the Government expenditures and the 95% of the GDP. The huge risks associated with handling exceptionally large revenues in a cash-based-system have

While the government has established a revenue management framework with several strengths, the Ministry of Finance, Planning and Economic Development (MoFPED) could finetune this

Rethinking Nigeria’s oil and gas governance is crucial for transforming this vital sector from a mere source of revenue into a powerful engine for national development.

Lower prices for oil and gas commodities; Revenue needs among the governments engaging in restructuring programmes; Pressure from international capital markets; and, Shifts in the roles

The management of oil revenues plays a crucial role in shaping the economic landscape of resource-rich nations. Effective governance, characterized by transparency and accountability,

The Natural Resource Governance Institute finds that a quarter of national oil companies’ new investments over the next decade which are funded by public budgets could become

With their explicit resource extraction mandates, government revenue-generating responsibilities, and geographic limitations, National Oil Companies are typically following this latter strategic path.

The team met Norway’s Oil for Development Program representative to Uganda (John Age Haugen), from whom the team learned that Norway provides support to the government of

Effective Use of Oil Revenue Key to Sustainable Development; Governance Analyst Natural Resource Analyst Richard Ellimah urges Ghana to invest petroleum revenues

Fiscal policy is the thread that connects government revenues, including those from petroleum production, to sustainable development outcomes. According to Soli et al. (2008),

Abstract Oil and gas extraction plays a dominant role as a source of export earnings and, to a lesser extent, employment in many developing countries. But the most important benefit for a country from development of the oil

In addition, the Petroleum Revenue Management Act ensures that the revenues generated from oil exports are effectively managed for the country’s long-term development. This Act mandates that oil funds are

Figure 1 summarizes the government's main oil revenue sources and the two government bodies—the state budget and the State Oil Fund—involved in the management of oil and gas

Feb 16, 2009For most of this decade, the governments, extractive companies and civil society groups working to strengthen the governance of natural resource revenues have lived in

Oil revenue stabilization funds provide short-run protection against oil revenue fluctuations in the way that Saudi government deposits and reserve at the Saudi Arabian Monetary Authority

Fiscal rules can underpin these policies, constraining government spending decisions and compelling government bodies to adopt a long-term perspective on public

The main policy on managing oil revenue is the PRMA, which provides the institutional framework for effective collection, allocation, and management of petroleum

Findings reveal that the United States’ revenue allocation framework, grounded in decentralization and fiscal autonomy, promotes more effective and sustainable oil resource management.