Organized by the World Bank and the Forum of Federations, with sponsorship from NORAD Management of Oil and Gas Revenues in Pakistan

The Forum of Federations is undertaking a study of the factors that affect the management of petroleum resources in federal systems, of which this draft paper is part. This paper is an informal document which publication is intended to provide reference material for the Conference on Oil and Gas in Federal Systems, organized by the World Bank, to further the dialogue on development and public finance issues that are common to federal and decentralized petroleum-producing countries. A revised version of this paper will be included in a publication by the Forum of Federations which is expected to be completed by June 2010. The manuscript of this paper has not been prepared in accordance with the procedures appropriate to formally edited texts. Some sources cited in this paper may be informal documents that are not readily available.