Kataloqun mündəricatı(/ts_gen/eng/news/2007)

Public Unions Coalition of  “Improving Transparency in Extractive Industries” has held a conference on topic “Implementation of EITI in Azerbaijan: retrospective view to a 5 years period” by financial support of  Norway Kingdom Embassy in Azerbaijan in 17th June 2008 at the Irshad Hotel by participation of local and international companies. Chairman of National Government Commission on EITI and executive director of the Oil Fund Shahmar Movsumov, ambassador of Norwegian Kingdom in Azerbaijan John Ramberg, representatives of oil-gas companies worked in Azerbaijan, World Bank’s and OSI’s( Open Society Institute) representatives  were participating in the conference.

Coalition for Improving Transparency in Extractive Industries is conducting  “ improving transparency of oil revenue expenses” project, financed by Baku Embassy of Norway Kingdom. One of the five planned directions within the project is organizing talk shows in local TV s. In this direction third shooting of program was held in 24th may in Kapaz TV of Ganja. Coalition’s coordinator Gubad Ibadolgu  has participated in the talk show as an expert.

State Oil Fund of Azerbaijan Republic (SOFAZ) assets have been increased from $ 2,017 million in August, 2007 to $ 3,335 million in April, 01, 2008. Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-March, 2008 reached 1116,4 million manat, while budget expenditures constituted 438,4 mln. Manat. Revenues of the 2008 budget of the fund was approved 3,60, expenditures 1,68 billion manat, the amounts, however, will be expected to be amended in May, 2008 when the state budget is amended at the Parliament. SOFAZ’s revenues have been increased thanks to the oil price in the market.

This Press release is jointly prepared by Committee on EITI, extractive industry (oil and gas) companies and Non-Governmental Organizations (NGOs) Coalition for Increasing Transparency in the Extractive Industries of Azerbaijan.

The Coalition Increasing Transparency in Extractive Industry held its 10th General Assembly in the Conference Hall of AF-HOTEL-AQUAPARK on October 20th, 2007. The gathering started with the playback of the national anthem of Azerbaijan. Addressed to and read out at the meeting were the letters of greetings and welcoming speeches by the chairman of the EITI Commission of the Government of Azerbaijan and executive chairman of the State Oil Fund of Azerbaijan, Mr Shahmar Movsumov, as well as the Open Society Institute – Assistance Foundation, the Embassies of the United Kingdom and the Kingdom of Norway to Azerbaijan, and a number of international organizations and oil companies.

The coalition of local NGOs Increasing Transparency in Extractive Industries (ITEI) holds its 10th General Assembly at the AF-HOTEL-AQUAPARK in Novkhany, a settlement on the outskirts of Baku. The meeting will hear the reports by the Board and the Monitoring Group of the Coalition, and discuss the Action Plan of the Coalition for Year 2008, as well as amendments and alterations in the Regulations of the alliance. Meanwhile, as the term of office of the governing bodies of the Coalition is over, it has been decided to review the organizational issues on the agenda. The General Assembly will announce the members of the Board to oversee the operation of the Coalition for the coming two years.

Azerbaijan's Extractive Industry Transparency Initiative (EITI) is being developed by NGOs that created a coalition for this purpose 3 years ago. The NGO coalition has issued the first copy of a special journal about this. The journal called Transparency in Extractive Industry explains how the State Oil Fund's money is spent,

Extractive Industries Transparency Initiative (EITI) reports for the first six months of the year 2007 will be collated by Moore Stephens Azerbaijan Limited following the decision of the Selection Group, which was established in accordance with the Memorandum of Understanding signed between the governmental Committee on EITI, foreign and local extractive industry companies and the NGOs’ Coalition for Increasing Transparency in Extractive Industries to implement EITI in Azerbaijan. Tender has been announced by State Oil Fund of the Republic of Azerbaijan, as it is to pay audit company’s fees for collation of the next (seventh) cycle reports as per MOU.

The seventh reporting cycle on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was launched on August 30, 2007 at the meeting of the Selection Group, which was established in accordance with the Memorandum of Understanding signed between the governmental Committee on EITI, foreign and local extractive industry companies (oil and gas) and the NGOs’ Coalition for Increasing Transparency in Extractive Industries to implement EITI in Azerbaijan. The Group decided to send invitations to bid to the Azerbaijan offices of the world-known international audit companies.