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The country�s
potential oil resources are its main wealth and must be managed
efficiently and transparently. The Bank has assisted the Timor Sea
Office in preparing legislation on petroleum production, taxation
and revenue management, and in organizing broad-based
communications, consultations and capacity building workshops on the
petroleum sector. The country�s newly-established Petroleum Fund has
won accolades for transparency and accountability from the
Extractive Industries Transparency Initiative. |