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Finances of Timor Sea Oil and Gas Operations

Documents relating to the financial and economic impact of the Timor Sea Oil revenues

See also documents on Transparency and Accountability and Petroleum Fund

Arranged in chronological order:   2002    2003    2004    2005   2006   2007   2008   Global

2002

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Excerpt from World Bank May 2002 report East Timor: Policy Challenges for a New Nation

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Sections of East Timor's 2002 National Development Plan on oil policy

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How East Timor's National Budget 2002-3 includes oil revenues

2003

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Updated National Budget 2003-4, excerpts about oil revenues and shortfall (May 2003); Mid-year Budget Update (Nov. 2003)

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Statement by Prime Minister Mari Alkatiri at Extractive Industries Transparency Initiative, London, June 2003.

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RDTL Taxation law relating to Bayu Undan, and Tax Stability Act.

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Production Sharing Contracts for Elang-Kakatua and Bayu-Undan

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La'o Hamutuk Bulletin article on expected revenues (August 2003)

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Background papers from RDTL and World Bank for December 2003 Development Partners Meeting

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RDTL Sector Investment Plan for Timor Sea Oil, Nov. 2003

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La'o Hamutuk Statement to the Development Partners meeting, December 2003

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Aid, Trade and Oil: Australia's Second Betrayal of East Timor, December 2003 (PDF)

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La'o Hamutuk Bulletin article on projected deficit and relation with stolen oil money (March 2004)

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Statistical Treatment of Economic Activities in the Timor Sea, as explained by the Australian government's ABS, September 2003. (PDF)

2004

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Can Timor Leste Avoid the Resource Curse? by Charles Scheiner, La'o Hamutuk. PowerPoint  Tetum PowerPoint. TAG Workshop, Dili, March 2004.

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Documents from May 2004 Development Partner's Meeting:
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Government Budget 2004-5

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World Bank Background Paper

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TFET projects to support petroleum development

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The Case for Saving Sunrise, from La'o Hamutuk, July 2004.

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Draft legislation and public consultation relating to management and taxation of Petroleum in Timor-Leste, August-September 2004.

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Discussion paper about Timor-Leste Petroleum Fund, with public consultation, October 2004.

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Can East Timor Avoid the Resource Curse? (updated) editorial and presentation from La'o Hamutuk, November 2004.

2005

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Draft Timor-Leste Petroleum Fund Act in English, Portuguese and Tetum, January 2005. Consultation and enactment.

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Extractive Industry Transparency in Timor-Leste: Limitations in Practice, by La'o Hamutuk to World Bank EITI Implementation Meeting, 2 February 2005. PDF

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Public consultation about draft Petroleum Fund Act including presentations by government and submissions from La'o Hamutuk and others, February 2005.

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Petroleum Fund Act approved by the Council of Ministers (Tetum, Portuguese), 12 April 2005.

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Documents from May 2005 Development Partner's Meeting:
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Government Budget 2004-5 (April 2004)

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Mid-Year Review (excerpts) (PDF) (December 2004)

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RDTL Background Paper (excerpts), PDF includes extensive discussion of savings policy and Petroleum Fund (April 2005)

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World Bank Background Paper (excerpts)PDF  (April 2005)

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Sector Investment Program for Natural Resources and Environment and Details on New Projects (April 2005)

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Submissions to Parliament on the Petroleum Fund Act from (June 2005)
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La'o Hamutuk (also Portuguese)

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Lalenok Ba Ema Hotu (LABEH)

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Oxfam in Timor-Leste (also Portuguese)

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Jennifer Drysdale, Australian National University, Canberra, Australia

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Joseph C. Bell, attorney, Washington, DC USA

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Martin E. Sandbu, Columbia University, New York USA

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Petroleum Fund Act as signed into law, June 2005.

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Banking and Payments Authority newsletter on the Petroleum Fund, July 2005

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Operational Management Agreement between the Minister for Planning and Finance and the Banking & Payments Authority on the Petroleum Fund, July 2005.

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RDTL National Budget (excerpts) 2005-6, August 2005

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Timor-Leste establishes Petroleum Fund, September 2005

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First Quarterly Report from Petroleum Fund and BPA Press release, November 2005


2006

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Background Papers for the Development Partners Meeting from World Bank and RDTL government, April 2006

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RDTL National Budget (excerpts) 2006-07, July 2006


2007

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Timor-Leste Petroleum Fund operations, including quarterly reports

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Sustainable Development or Resource Cursed? An exploration of Timor-Leste's Institutional Choices by Jennifer Drysdale (Thesis for Ph.D. at ANU), July 2007

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World Bank/ADB Economic and Social Development Brief, August 2007

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Petroleum-related excerpts from new Government Plan, RDTL National Budget, and World Bank Policy Brief, September 2007

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RDTL Proposed Transitional Budget, September 2007

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Timor-Leste EITI Work Plan, September 2007

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Petroleum Fund Consultative Council letter to Parliament, October 2007

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Timor-Leste Petroleum Fund annual report for July 2006-June 2007, the first full year of operation, December 2007


2008

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Sunrise LNG in Timor-Leste, La'o Hamutuk, February 2008

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RDTL Budget for 2008 - overview and excerpts relating to Petroleum Revenue, February 2008

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Program of Secretary of State for Natural Resources from RDTL Budget for 2008, February 2008

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Book 1 and Book 2 containing entire RDTL 2008 budget (PDF), February 2008

For information on subsequent state budgets, click here.


Not Timor-Leste specific

Links to many more documents relating to transparency and accountability.

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Policy Brief on Oil Revenue Monitoring Plans: Comparison Across Countries
"Oil Funds:Answer to the Paradox of Plenty?" by Friends of the Earth

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"Caspian Oil Windfalls: Who Will Benefit?" book by Caspian Revenue Watch. Summary
This book explores the problems and benefits of oil funds in different countries, as a way of evaluating the challenges facing new nations with petroleum revenues about to be developed, especially Azerbaijan and Kazakhstan.

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Report on "The Oil Trap" by Transparency International, September 2003 (PDF).

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Publish What You Pay NGO initiative on mandatory reporting of what oil and mining companies pay to governments.

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Lifting the Resource Curse: Extractive industry, children and governance from Save the Children, UK. 2003 (PDF)

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Phasing Out International Financial Institutions Financing for Fossil Fuel and Mining Projects: Demanding Local Community Self-Determination, by Friends of the Earth International, January 2002.

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Following the Money 101: A Primer on Money-Trail Investigations by the Coalition for International Justice, February 2004.

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Follow the Money: A Guide to Monitoring Budgets and Oil and Gas Revenues by Jim Shultz for Revenue Watch, Open Society Institute, April 2004.  Bahasa Indonesia

The Timor-Leste Institute for Development Monitoring and Analysis (Lao Hamutuk)
Institutu Timor-Leste ba Analiza no Monitor ba Dezenvolvimentu
Rua D. Alberto Ricardo, Bebora, Dili, Timor-Leste
P.O. Box 340, Dili, Timor-Leste
Tel: +670-3321040 or +670-77234330
email: 
info@laohamutuk.org    Web: http://www.laohamutuk.org    Blog: laohamutuk.blogspot.com