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Kazenergy intends to ensure oil revenue transparency

Oil&Gas Materials 22 February 2012 16:13 (UTC +04:00)

Kazakhstan, Astana, Feb 22/ Trend T.Nurmagambetov/

KAZENERGY plans to enter the National Council of the Extractive Industries Transparency Initiative (NC EITI).

EITI is a global standard promoting transparency from oil, gas and mining revenues. The initiative is implemented in 35 countries. There are two forms of participation in the initiative -- candidates and followers.

Kazakhstan received the candidate status in 2010. Several measures should be taken to obtain the follower status, such as creating a new NT EITI.

KAZENERGY was established on Nov.2, 2005. Its members and partners are 58 companies and organizations. The council is an advisory body chaired by the association's chairman.

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