the gulf of guinea and the global economy - AIPN

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Key Issues:V. Role for Oil Companies(2)Relations between governments and oil companies:‣ These countries have all reasons to maintain good relations with oil companies, inlight of the oil sector in their economy (oil sector contributes to more than 80% of totalexports and more than 50% of government budget in most of oil-producing countriesin the region).Finding the right balance between profit-seeking on theone hand, and redistribution of wealth and socialdevelopment on the other hand:‣ Create conditions for good partnership and trust;‣ Put in place a clear and effective institutional framework in which the role of eachparty is clearly defined;‣ Ensure the capability of each party to check the consistency of the activities of otherswith the laws and commonly-agreed rules. In this regards, ministries concerned mustbuild human capacity (e.g. Trinidad and Tobago where the ministry y of financecomprises a well equipped technical unit for oil sector matters).20
How Can National Oil Companies (NOCs) contribute to afriendly environment for oil and gas activities in the Gulf ofGuinea?NOCs should and cannot replace their international counterparts:lack of technological capacity and know-how; and they haveinsufficient financial resources and credibility to access financialmarkets;Benefits of having NOCs:‣ Technological transfers to countries;‣ Increase the producer country’s s share of oil rent;‣ Contribute to reducing tensions between multinationals andindigenous populations;‣ Direct control over production volumes by producer countryfacilitates the management of the supply and demand balance.21
Page 2 and 3: THE GULF OF GUINEAAND THE GLOBAL EC
Page 4 and 5: I. The Potential of the Gulf of Gui
Page 6 and 7: II. Challenges to Sustainable Devel
Page 8 and 9: - Pro cyclical expenditures in Gabo
Page 10 and 11: - Six indicators: weak institutiona
Page 12 and 13: III. Coping with the Obstacles to D
Page 15 and 16: IV. Need for Urgent ActionsCountrie
Page 17: IV.Need for Urgent Actions(3)The Qu
Page 22 and 23: National Oil Companies (2)NOCs are
Page 24: THE EMERGENCE OF THE GULF OF GUINEA

the gulf of guinea and the global economy - AIPN

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