What: The DC launch of Examining the Crude Details: Government Audits of Oil & Gas Project Costs to Maximize Revenue Collection with a panel of petroleum & tax experts
When: Thursday, March 21 from 3:00 – 4:30 PM
Where: Oxfam America (1101 17th Street, NW, Suite 1300, Washington, DC)
In an era of declining aid flows and debt-trap diplomacy, the extractive industries—oil, gas, and mining—present an enormous opportunity for resource-rich countries to raise domestic revenues and close the gap between rich and poor. The petroleum sector generates enormous profits that, if effectively taxed, could help fund the fight against poverty and contribute to economic development. But the journey to self-reliance is rarely this straightforward.
Petroleum-producing countries lose revenue when multinational petroleum corporations overstate costs paid to their offshore subsidiaries. Without effective government auditing to control upstream oil and gas project costs, these companies shift profits and avoid paying taxes, at the expense of citizens and communities.
Please join us as we dig into Oxfam’s Examining the Crude Details, a groundbreaking study on government audits in the petroleum sector drawing lessons from Ghana, Kenya, and Peru. Leading petroleum and tax experts will discuss how governments can improve auditing to maximize revenue collection and ensure public benefit from oil and gas projects. Click here to RSVP.
Light refreshments will be served.
Follow the conversation on Twitter using #CrudeDetails
- Introductory remarks: Daniel Mulé, Senior Policy Advisor, Tax and Extractive Industries, Oxfam America
- Presentation of Examining the Crude Details: Alexandra Readhead, lead author and extractive industries transfer pricing expert
- Panel: Perspectives on petroleum cost auditing
- Moderator: Fatema Sumar, Vice President of Global Programs, Oxfam America
- Thomas Baunsgaard, Deputy Division Chief for Tax Policy, Fiscal Affairs Division, International Monetary Fund
- Humberto Campodónico, petroleum expert, industrial engineer, economics professor, former President of PetroPerú, and columnist in La República
- Charles Wanguhu, Coordinator of the Kenya Civil Society Platform on Oil & Gas (KSCPOG)
Oxfam is a global movement of people working together to end the injustice of poverty. With 70 years of experience in more than 90 countries, Oxfam takes on the big issues that keep people poor: inequality, discrimination, and unequal access to resources including food, water, and land. We help people save lives in disasters, build stronger futures for themselves, and hold the powerful accountable. Oxfam’s Extractive Industries Global Program has worked for more than 15 years to help people defend their rights to participate in decisions about natural resources and unlock resource revenues for development that meets their needs. Today we work with partners in more than 30 countries to overcome the legacies of poverty and powerlessness that oil, gas, and mining projects often exacerbate.