11 state-owned enterprises Many governments have turned to state-owned enterprises (SOEs) to plug budget deficits caused by the COVID-19 crisis. Public demands for SOE transparency have also intensified, particularly on issues related to SOEs’ economic contributions, expenditures and financial relationship to the state. New requirements introduced in the 2019 EITI Standard have led to new disclosures practices. For example, Ghana’s national oil company reported data on its crude oil sales for 2015–2019. The Nigerian National Petroleum Corporation, which became an EITI supporting company in 2020, published its group-level audited financial statement for the first time, alongside audited accounts for its subsidiaries. In November 2020, the EITI re-launched its SOE Network. The forum gathers more than 20 state-owned enterprises from EITI and non-EITI implementing countries to share expertise and champion transparency practices. The International Secretariat has also issued new guidance on disclosures related to SOE governance and aims to provide further support to SOEs by identifying and seeking to close gaps in their public disclosures. eiti.org/soe Shedding light on SOE transactions Key EITI reporting requirements related to extractive, state-owned and commodity trading companies Taxes, royalties, fees, etc. Requirement 4.1 LOANS AND GUARANTEES Requirement 2.6 LOANS AND GUARANTEES Requirement 2.6 Oil, gas and mining companies government Commodity trading companies loans and payments Requirement 4.2, Reporting guidelines for companies buying oil, gas and minerals from governments State-owned enterprises and extractive subsidiaries PAYMENTS AND FINANCIAL RELATIONS Requirement 2.6, 4.1, 4.5 IN-KIND Payments Requirement 4.2 SALES OF IN-KIND REVENUES Requirement 4.2 Off-budget public expenditures Requirement 6.2 0 2 4 6 8 0 1 0 2 4 6 8 0 2 0 2 4 6 8 0 0 120+ extractive SOEs operate across EITI implementing countries. 120+ extractive SOEs operate across EITI implementing countries. 55 SOEs participate in EITI reporting processes, and 25 are represented in EITI national multi-stakeholder groups. 0 2 4 6 8 0 5 0 2 4 6 8 0 5