CIAO DATE: 07/2008

Good Governance of the National Petroleum Sector

April 2007

Chatham House

Abstract

So far there is no international standard or measure of good governance for the petroleum sector. It is not obvious what international organization would provide a formal institutional base for the development of benchmarks and indicators of good governance practice. The Chatham House-CEPMLP project provides an informal forum in which officials, and executives from the producing countries can share their knowledge and shape common principles and guidelines in discussion with experts and representatives from national and international civil society and institutions. The project has:

• Brought producers together through a series of three workshops in constructive dialogue about the governance of their national petroleum sectors.
• Established as broad a consensus as possible on what constitutes good governance.
• Surveyed current governance practice worldwide, identifying key governance arrangements and identifying the criteria for their effective implementation.

The findings and conclusions of the project are summarized here.

Resource link: Good Governance of the National Petroleum Sector [PDF] - 501K