The Extractive Industries Transparency Initiative (EITI) has called off its 2026 Global Conference, citing the cascading effects of the ongoing Middle East conflict and the energy emergency it has triggered in the Philippines, the country that was due to host the event.
The decision was made in consultation with the Philippines’ Department of Finance, which had been designated as the government host of the conference. The postponement reflects a recognition that deteriorating energy conditions and constrained public mobility in several countries made convening a large international gathering impractical at this time.
Philippine President Ferdinand Marcos Jr. signed Executive Order No. 110 on March 24, 2026, declaring a state of national energy emergency in response to the ongoing conflict in the Middle East and the resulting closure of the Strait of Hormuz, which has disrupted global petroleum flows and threatened the adequacy of the country’s domestic energy supply. The Philippines imports 98% of its oil from the Middle East and had, as of March 20, only 45 days of supply remaining at average consumption levels, down from 55 to 57 days when the conflict began.
EITI Executive Director Mark Robinson said the organisation did not take the postponement lightly, acknowledging the importance of in-person engagement for strengthening implementation of the EITI Standard and building capacity across member countries. He stressed, however, that the broader mission of the initiative remained unchanged.
“In these challenging times, transparency in the extractive sector is more important than ever,” Robinson said, noting that sound governance of resource revenues was particularly critical when economies faced heightened uncertainty and volatility.
EITI said it would announce a new conference date after continued monitoring of global developments, with updates to be communicated through official channels. The organisation reaffirmed its commitment to supporting member countries in advancing transparency, especially as energy shocks intensify fiscal pressure on resource-dependent governments worldwide.
Asia accounts for 44% of global crude imports, and the Strait of Hormuz closure has pushed governments across the region into emergency response mode. South Korea has launched nationwide energy conservation campaigns, while countries including Japan and India are reassessing supply chains that depend on Gulf oil shipments.
Ghana is a member of the EITI and publishes annual reports on revenues from its oil, gas and mining sectors under the standard. The postponement affects the scheduled participation of Ghanaian representatives in what would have been one of the initiative’s flagship engagement events of the year.
