Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a global standard to promote open and accountable management of natural resources. It seeks to strengthen government and company systems, inform public debate and enhance trust. In each implementing country, it is supported by a coalition of government, company and civil society organisations working together. Here is a fuller explanation of the EITI and UK implementation of it. The OGA is represented on the UK EITI Multi-Stakeholder Group and encourages oil and gas companies that make material payments to, or receive material repayments from, the UK Government to participate in the EITI process. The UK EITI Reports provide useful summaries of the fiscal and regulatory regimes applying to the UK upstream oil and gas industry and include a significant amount of background material on the economic impact of the sector. Here is an updated version of Figure 1 (Extractive Industry Gross Value Added) in the UK EITI Report for 2016. On the Government Revenues from UK Oil and Gas Production page you can find an expanded and updated version of Table 6 (UK Government Revenues from Upstream Oil and Gas) as “UK Government Receipts and Repayments of Upstream Oil and Gas Tax”.
The OGA contact for further information is:
4th Floor, 21 Bloomsbury Street
Tel: 0300 067 1604 / 07785 692644