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Equatorial Guinea
Summary
- Equatorial Guinea is no longer an EITI candidate, having failed the validation process as of April 2010.
- The report provides the monetary value of in-kind petroleum transfers, which is good practice.
- Materiality is clearly defined, though companies conducting exploration activities were excluded due to time constraints.
- The audit requirements are clearly stated, but call on only foreign firms to provide audited data.
- The report includes forestry, along with the much larger petroleum sector.
- The report is available in Spanish, although this version could not be found online.
Data Year
2007-08
Publication Year
2010
EITI Status
No Longer Candidate
No Longer Candidate
Report Compiled by Deloitte Conseil
EITI report Download PDF
Source unknown
Government Receipts
$9,119,117,112.06
Company Payments
$9,120,411,867.45
GDP, 2008
BILLION US$
source
18.42
Total Government Revenue (% of GDP)
36.99
Reported EI Revenue (% of Total Revenue)
133.84
Report Quality Indicators | ||
1. Regularity | ||
| a) score | 0.20 | |
| b) total reports / implementing years | 1/5 | |
2. Timeliness | ||
| Lag between fiscal year of data and publication year. | 2 | |
3. Materiality | ||
| Report clearly defines a materiality threshold. | Yes | Materiality clause excluded companies conducting exploration, due to lack of time. Payments over $1 million were included. |
4. Data Reliability | ||
| Report contains audited data from: | ||
| a) companies | No | Only foreign companies were required to provide audited data; 7/9 complied. |
| b) government | No | |
5. Coverage | ||
| Revenue data includes the following revenue streams: | ||
| a) royalties | Yes | |
| b) taxes | Yes | |
| c) surface, rental or license fees | No | |
| d) bonuses | No | |
| e) state-owned enterprise (SOE) payments | Yes | |
| f) Report covers all extractive sector companies. | Yes | 9/9 companies reported. |
| g) Report states the price of any product received or sold by government. | No | |
| h) Report states the quantity of resources produced. | Yes | |
6. Discrepancies | ||
| Report contains: | ||
| a) information on the cause of revenue discrepancies. | Yes | |
| b) reconciled data following the correction of discrepancies. | Yes | |
7. SOE Revenue Flow | ||
| SOE Revenue Flow data is clearly explained in the report. | No | |
8. Disaggregation | ||
| Report provides financial data on individual: | ||
| a) companies | No | |
| b) revenue streams | Yes | |
| c) projects | No | |
| d) commodities | No | |
9. Comprehensibility | ||
| Report contains: | ||
| a) a summary with key findings and revenue totals | Yes | |
| b) clear indication of what currencies and units of measurement are used | Yes | |
| c) written explanation of key findings and recommendations | Yes | |
| d) a clear definition of terms | No | |
10. Accessibility | ||
| Report is available: | ||
| a) in at least one official language | Yes | Report is available in Spanish. |
| b) on a government website | No | |
Related Indicators | ||
| Revenue Watch Index, 2010 | 11.6 | |
| Corruption Perception Index, 2010 | 168/178 | |
| Open Budget Survey, 2010 | N/A | |
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