EITI demands timely oil data as Guyana faces questions over production verification

(Kaieteur News) – Guyana’s membership in the Extractive Industries Transparency Initiative (EITI) requires the Government to publish timely data on the production and value of oil and other natural resources, including information that allows the public to assess whether reported production is accurate.

The requirement is set out under EITI Requirement 3.2, which seeks to ensure public understanding of extractive commodity production levels and the value of output, providing a basis for assessing expected government revenues and identifying potential leakages linked to under-reported production. Guyana became an EITI implementing country after the EITI Board approved its application at a meeting in Manila on October 25, 2017.

As an implementing country, Guyana is therefore required to “disclose timely production data, including production volumes and values by commodity.”