Transparency is the key element to succeed petroleum industry and is the among of simple tactics to build citizen trust in oil and gas sector
.Let see first what are the importances of transparency before moving on how we can build it
Importance of Transparency in oil and gas industry
- It reduce corruption
- It mange public expectation
- It build trust
- It enable good decision making
How to build Transparency in oil and gas industry in Tanzania
- We must increase public disclosure of licensing and tendering process
- Also we must publish the criteria of assessing bid and hold open bidding round for both exploration licensing and tendering
- companies currently operating in Tanzania should be more detailed about their financial report and also they publish information on the sites where they work.
- We must increase publish income or revenues generated from oil and gas industry in newspapers, internet and strong media.
My Final Words
Regular disclosure of information to the public would clear up misconceptions of the citizens in oil and gas industry and reduce corruption which is the key element resource curse in many emerging oil and gas producers.
Dear readers, we would love to here all of these from you.