By Ahmed Mousa Jiyad.
Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
For the third year in a row the National Secretariat of the Iraqi Extractive Industry Transparency Initiative (IEITI) has succeeded in releasing its annual report on time.
This year Report exhibits significant improvement in the quality and contents of its coverage reflecting a learning curve by all involved in the preparation process. In addition to providing the reconciliation of oil export revenues, the current Report provides more data and information on many other important new items.
Nevertheless, a good deal of repetition and similar flaws and shortcomings are recurring despite the fact the report has a new international “Reconciler”. Some important revenue items with significant amounts are still missing, and thus undermine the quality and overall assessment of the Report.
Generally, while the IEITI Report is much better than the previous two annual reports there is a lot to be done and should have been done properly, professionally and comprehensively.
This brief initial assessment begins with providing technical and background notes on the methodology and process of preparing the report with particular reference to the previous contribution of this author on the last two IEITI Reports for 2009 and 2011.
This is followed by the assessment of the current report which covers first the identification and analysis of the main findings and highlighting the positive improvements in the coverage and contents of the reconciled data.
A set of important revenue/payment missing items, which should have been covered easily in this year report, are dealt with based on my through knowledge of the concluded service contracts. Further remarks on the quality of the report are highlighted, then ending this initial assessment with few conclusions.
[Update: a response to this article from the IEITI can be downloaded here.]
Mr Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: [email protected], Skype ID: Ahmed Mousa Jiyad).