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Oil and gas companies operating in Azerbaijan to provide public reports on a mandatory basis

26 September 2013 11:26 (UTC +04:00)

To him, in accordance with the new standards, the reports will be submitted not for the amount of common operations in the mining industry, but for the data of each member company of EITI: “From now on, all the participating companies will present their EITI reports individually.”

Movsumov added that every citizen of Azerbaijan has the right to obtain information on the income of the country: “The new standard is a new stage for all the participating countries of EITI. Earlier, according to international requirements for EITI, companies presented the report on their own.”

Movsumov noted that oil and gas companies operating in Azerbaijan will provide detailed reports on their income to community: “This is great progress that has been made in the recent years. New detailed and extensive report form will make more available data on income received in the mining projects, particularly in the oil and gas sector.”