Africa-Press – Angola. Angola was admitted, Thursday, in Brussels, Belgium, as a member of the Initiative for Transparency in Extractive Industries (EITI), “with a commitment to continue to improve the processes of supervision of the transparent management of our mineral resources for the benefit of the people”. ”.
Speaking at the acceptance ceremony of Angola in the EITI, the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, considered that the act of accession enshrines the determination of the Angolan Executive to comply with the global standard of transparency in the extractive industry, “continuing to to improve oversight processes for the transparent management of our mineral resources for the benefit of the people”.
“The National Committee for the Coordination of the Initiative for Transparency in the Extractive Industries integrates several national actors, namely the Government, the extractive industry and civil society, which makes it possible to ensure a more sustainable discussion on the destinations to be given to the revenues from the exploitation of our mineral resources”, he maintained.
He referred to the adhesion as a voluntary and sovereign act of the Government, with which Angola declares, to the national and international community, the firm commitment to share, with regularity and systematization, the revenues of the extractive value chain, as well as to motivate national companies to comply with EITI procedures.
Diamantino Azevedo also highlighted the fact that the Angolan economy is based on the extractive sector, with particular emphasis on the exploration of oil, natural gas and diamonds, “hence the fact that the current Executive has invested heavily in the diversification of the economy”, said.
In the period 2017-2022, he added, the Executive has been implementing a process of global and profound reforms, whose results in the extractive industry sector have been impressive.
Renovations
In his speech, the minister also highlighted the reforms in the oil and gas segment, with the creation of various bodies, namely the National Agency for Oil, Gas and Biofuels, the Petroleum Derivatives Regulatory Institute, the restructuring of Sonangol, among others. actions to increase hydrocarbon prospecting capacity, bidding for blocks, approval of the Gas Law, as well as the approval of the refining and petrochemical strategy, among other areas.
According to Diamantino Azevedo, with these reforms, the Executive intended to give greater signal to the market of the seriousness of Angola in the continuous search for solutions to improve the reputation of its institutions and companies, as well as to provide greater comfort to investors, forcing all actors in the extractive industry, greater rigor in complying with legislation, weighting in decision-making.
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