Oil can constitute a vital component In a successful economic strategy that drives national development, peace and prosperity, for countries and entire regions of the world. Oil revenues can serve as a catalyst for modernisation, industrialisation, and longterm foreign investment as seen in many former colonial countries. An example of this is the prosperous United Arab Emirates, which consists largely of a collection of small oil producing states such as Dubai.
More commonly in developing countries, the oil industry has heightened social inequalities, crime, and created political instability and conflict. Murder for hire and politically inspired assassinations are not rare in these countries and simply a means to access resources.
The oil industry in the overwhelmingly majority of developing countries is associated with widespread corruption, procurement and other forms of fraud,
institutionalised tax evasion, and a range of other ingenious means to steal government revenue.
From Angola to Venezuela the problems are similar. The almost blind pursuit of oil revenue in most developing countries has crippled and fundamentally weakened the structure of their economies, reducing self sufficiency, increasing poverty, and national dependency; and ironically diminishes the value of oil revenue.
Panel Discussion on Public Procurement
Panel Discussion on Procurement Lessons from the Trinidad and Tobago Model of Development
A comparison of the existing Guyanese law with the more modern framework which covers 'public procurement and the disposal of public property'.
The Misuse of Offshore Structures in Laundering/hiding the Proceeds of Illicit Payments in the Oil and Gas Industry.
Panel Discussion on the Integrity matrix
How offshore trusts, companies and financial services are used to hide illegal payments, and best practices to prevent such payments.
Security governance and the extractive industry in Turkana, Kenya. Looking at how the presence of oil raises new challenges in terms of policing, the private security industry, gun control and community security.