Argentina seeks to join extractive industries initiative

Thursday, December 7, 2017

Argentina wants to join the Norway-based Extractive Industries Transparency Initiative (EITI), which establishes a global standard to promote open and accountable management of natural resources.

The energy and mining ministry said it is forming a multi-stakeholder group consisting of government officials, civil institutions like universities and NGOs, and companies from the sector, as required by EITI. This group will be responsible for designing and executing the "National Action Plan for the Implementation of EITI" and is working on a roadmap for Argentina's presentation.

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In October, Mexico was accepted as the 53rd EITI member.

EITI ensures transparency in oil and gas extraction by requiring information from participating countries about the extractive industry value chain, from the point of extraction to how revenue flows through government and eventualy benefits the public, according to EITI's website.

"It is necessary that we give an account of our actions, to improve governance and avoid conflict when managing natural resources, not only for our generation but also for those that will follow us," energy and mining minister Juan José Aranguren said at a press conference.

Alongside the minister, Laura Alonso, head of anti-corruption bureau, emphasized the importance of ministries "effectively show[ing] that in their sector there is an interest in transparency, control, the fight against corruption and the incentive to competition."

Regional Energy Integration Commission chair

Argentina's energy secretary Alejandro Sruoga has been appointed unianimously for a two-year term as the new president of the Regional Energy Integration Commission, in charge of promoting regional energy integration.

Sruoga, said that "a central axis of government management in the next biennium will be to break down the political, regulatory or industrial protection barriers to find the economic benefits of energy integration" in the region.