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1. Scoping Study on Extractive Sector State Owned Enterprise Disclosures in Mongolia

Author:
Dorjdari Namkhaijantsan
Publication Date:
10-2024
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
Mongolia’s state-owned mining enterprises are crucial to the economy but face transparency and governance issues. This scoping study examines the need for improved disclosures and stronger accountability in the sector. This report presents the scoping study on the disclosures of Mongolia’s state-owned mining enterprises, conducted by the Natural Resource Governance Institute (NRGI). The study was supported and funded by the Extractive Industries Transparency Initiative (EITI) International Secretariat and the European Bank for Reconstruction and Development (EBRD).
Topic:
Corruption, Governance, Economy, Accountability, Mining, Transparency, Contracts, and State-Owned Enterprises
Political Geography:
Mongolia and Asia

2. Anticorruption Guidance for Partners of State-Owned Enterprises

Author:
Alexandra Gillies and Tom Shipley
Publication Date:
01-2022
Content Type:
Special Report
Institution:
Natural Resource Governance Institute
Abstract:
Drawing on broad stakeholder consultations, corruption case analysis and reviews of existing best practices, this guidance proposes concrete measures that international oil, gas a mining companies should adopt to reduce corruption risks in their work with state-owned enterprises (SOEs) in the oil, gas and mining industries. It also recommends measures SOEs can take to strengthen their anticorruption safeguards. The guidance for private-sector companies has five parts: Conducting due diligence on SOEs; Avoiding high-risk agents; Responding to political exposure; Safeguarding payments; Protecting joint ventures from corruption. The final section identifies corresponding recommendations for SOEs in each of these five areas.
Topic:
Corruption, Natural Resources, Business, Risk, and State-Owned Enterprises
Political Geography:
Global Focus

3. Debt Policy of State-Owned Mining Enterprises in Mongolia

Author:
Andrew Bauer and Batpurev Ayushsuren
Publication Date:
09-2022
Content Type:
Special Report
Institution:
Natural Resource Governance Institute
Abstract:
Mongolia relies heavily on state-owned enterprises (SOEs) to manage several key mining assets. Baganuur, Shivee Ovoo, Erdenet, Mongolrostsvetmet and Erdenes Tavan Tolgoi are the most important majority state-owned companies operating large-scale mines. From 2019 to 2021, debt held by mining SOEs increased 4.3 times. The total liabilities of these companies reached USD 2.3 billion, representing 15 percent of GDP. The new debt was largely issued to cover social spending and an economically questionable railway project. It is unclear how the government intends to service this debt, particularly since profitability at most mining SOEs has been weak and most face liquidity challenges. Mining SOEs’ poor financial health is due to the combination of quasi-fiscal activity financing, poor project selection and management, and inadequate legislation and control mechanisms for new debt issuance. Legal reforms to new debt issuance and stronger Ministry of Finance oversight of SOEs are needed, in addition to stricter implementation of existing legal requirements such as collecting and disclosing complete data on SOE debt. Mongolia’s government should also review mining SOE quasi-fiscal expenditures, such as price controls on coal, and other reasons for low profitability of mines.
Topic:
Debt, Natural Resources, Mining, and State-Owned Enterprises
Political Geography:
Mongolia and Asia

4. Mongolia’s State-Owned Mining Enterprises: A Deeper Look Into Glass Accounts Data

Author:
Dorjdari Namkhaijantsan
Publication Date:
05-2022
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
Mongolia’s Glass Accounts Law (2014) requires that government entities and state-owned enterprises (SOEs) disclose detailed financial and operational information on a public website. The government’s Glass Accounts portal has since become a focal point for government transparency. However, uptake of the law has been uneven among government entities, and specifically for many SOEs operating in Mongolia. In part, this lack of implementation stems from the law’s ambiguity on who should report, but it also resulted from the government’s inactivity and poor enforcement as well as limited sanctions for those who do not comply.
Topic:
Governance, Mining, Data, and State-Owned Enterprises
Political Geography:
Mongolia and Asia

5. National Oil Companies and Climate Change: Insights for Advocates

Author:
Patrick Heller, Greg Muttitt, Alexandra Gillies, Paasha Mahdavi, David Manley, Valerie Marcel, Joachim Roth, Lourdes Melgar, Francisco J. Monaldi, and Angelo Picciariello
Publication Date:
11-2021
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
National oil companies are the “hidden half” of the global oil industry. The authors of this briefing write that climate and development advocates who seek to reduce fossil fuel supply and promote sustainable economies must engage with these state-owned companies, many of which are based in countries with high levels of poverty.
Topic:
Climate Change, Energy Policy, Oil, Natural Resources, and State-Owned Enterprises
Political Geography:
Global Focus

6. How Tanzania Can Secure a Good Deal for its Offshore Gas

Author:
Thomas Scurfield and David Manley
Publication Date:
09-2019
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
The Tanzanian government and a consortium of companies are negotiating the regulatory terms for a game-changing liquefied natural gas (LNG) project. In this brief, the authors update a previous analysis of some of the key decisions that will be made in the negotiation and their potential impact on whether the LNG project proceeds and the levels of revenues that the project could generate for the government. This update accounts for new information and changes in company planning. There is a reasonable chance that foreign investment in the LNG project will not happen under current conditions. NRGI’s economic model and specific assumptions of the project suggest that a long-term LNG price of USD 11 per mmBtu is needed for investors to earn the return they usually require from LNG projects. Current forecasts by the IMF and World Bank are $7-8 per mmBtu. As the authors discuss in the brief, the chances of investment will shrink further if, during the negotiations, the government increases taxes and requires companies to share a greater portion of the gas with Tanzania’s home market. Government officials could wait and hope that conditions improve, and perhaps then impose stricter terms. However, this would delay the point at which the country would start generating benefits from the project. If officials want to accelerate development, without harming long-term gains for the country, they could: adopt a more progressive tax regime, avoid raising the share of gas to be sold to the home market, and establish a legal framework that both company managers and future generations of Tanzanians will trust.
Topic:
Gas, Regulation, Legislation, Tax Systems, Commodities, and State-Owned Enterprises
Political Geography:
Africa and Tanzania

7. State Participation in Oil, Gas and Mining

Author:
Natural Resource Governance Institute
Publication Date:
03-2015
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
State participation in oil, gas and mining is often exercised through state-owned enterprises (SOEs), whereby governments take a direct ownership stake in oil, mineral or gas ventures, either as the sole commercial entity or in partnership with private companies. This briefing gives an overview of the different structures of state participation and an introduction to the governance/management of state-owned enterprises. Furthermore, it offer questions and strategies for effective parliamentary oversight of SOEs.
Topic:
Oil, Natural Resources, Gas, Mining, and State-Owned Enterprises
Political Geography:
United Kingdom and Europe

8. Reforming National Oil Companies: Nine Recommendations

Author:
Patrick Heller, Paasha Mahdavi, and Johannes Schreuder
Publication Date:
07-2014
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
Some national oil companies (NOCs) have contributed heavily to successful efforts to harness benefits from the oil sector and drive broader national development. In other cases, however, NOCs have become inefficient managers of national resources, obstacles to private investment, drains on public coffers, or sources of patronage and corruption. As such, NOC reform—incremental in some cases, fundamental in others—lies at or near the top of the policy agendas of many oil-rich countries. Building on existing literature, we surveyed 12 NOCs from diverse geographical and operational contexts to distill practical steps that policy-makers can take to make their countries' NOCs more effective and more accountable—to governments and to citizens. Our recommendations can be seen in both the executive summary and the full report.
Topic:
Oil, Transparency, Data, and State-Owned Enterprises
Political Geography:
Europe, Malaysia, Middle East, Kazakhstan, Norway, Asia, Kuwait, Brazil, Vietnam, Saudi Arabia, Latin America, Mexico, Nigeria, Angola, Ghana, Cameroon, and Sub-Saharan Africa