The 2016 Extractive Industries Transparency Initiative (EITI) Report was published, Wednesday 20 February 2019, during a press conference hosted by Florent Michel Okoko, Chairman of the Executive Committee. 

This 9^thReport covers the period from 1 January to 31 December 2016.  In three (3) sectors: hydrocarbons, forestry and mining.  The Report involved 70 extractive companies including 31 oil companies and SNPC. 20 forestry company and 19 mining companies.The report also involved 9 public Administrations.

The revenue generated by the extractive sector amounts to

652,8 billion FCFAfor the year 2016, of which 97 per cent come from the hydrocarbons sector, 2,6 per cent from the forestry sector and 0,4 from the mining sector.

Concerning the conciliation gap, the overall unreconciled residual gap amounts to 15 million 148 thousands FCFA, or 3, 97 per cent of the total revenue declared by the State. The revenue generated by the extractive sector amount to 2 077 billion FCFA for the year 2016, of which 93,9 per cent come from the hydrocarbons sector, 6,07 per cent from the forestry sector and 0,03 per cent from the mining sector. Hydrocarbons exports reached 78, 8 million of barrels worth 3, 1 billion USD. 

This Report presents some progress, but also some limitations. The progress include: inclusion of forestry companies in the conciliation prossess; release of oil costs, release of sale date of the State oil shares (buying entity, price, destination), release of quasi-tax expenditure data and collection of real property data. Low participation of extractive companies in the data reporting process (60 comapanies out of 70 retained in the conciliation perimeter).

However, some companies did not submit their certified statements by an external auditor; and some public administrations did not submit their signed statements by an authorized person, the 2016 EITI Report noted.

It should be noted that the delay in the publication of this Report is due, among other things, to the delay in choosing the independent administrator who would prepare the Report. Florent Michel Okoko, Chairman of the EITI Executive committee. 

"Given that this choice was made mid-November 2018, it seemed quite difficult because to prepare an EITI Report, the minimum time is three to four months. For some reports, sometimes with the density of information, we go up to 6 months. Therefore, as of 31 December 2018, it was very difficult for us to do it, we set ourselves the goal of having a report that we already knew could have a number of weaknesses but we struggled to prepared this Report before the 26 February 2019, date of the next Board of Directors of EITI-International", Florent Michel Okoko said.  

 

Since its accession to EITI, Congo has published 8 reports covering the years 2004 to 2015. The publication of the 2017 report was planned between May and June. 

 

The Press office of the Ministry of Finance