The report within the Extractive Industries Transparency Initiative (EITI) on 2013 will be prepared in accordance with the new EITI standards, the head of Azerbaijani State Oil Fund Shahmar Movsumov told journalists on Wednesday.
According to him, in accordance to the new standards, now the report within EITI will not reflect the total volume of transactions within extractive industry, but the contributions of each company which is the member of this initiative.
The new differentiated and more detailed form of reporting within EITI will make the information about the income (from extractive projects, in particular in oil and gas sphere) more accessible, the head of the EITI International Secretariat Jonas Moberg told journalists on Wednesday.
According to Moberg, Azerbaijani has made a long way within EITI and contributed to the development of the initiative.
The participant companies of the initiative which involves about 40 countries will have a mandatory basis to provide detailed information about the contributions within the extractive projects.
- ECONOMYOil prices edge towards $50 after U.S. crude stocks slump
- ASIAInternational Red Cross appeals for funds to help Sri Lanka recover from floods, landslides
- ASIA"One Belt One Road" to bring new opportunities to silk road countries
- ASIAPoliceman killed in Indian-controlled Kashmir militant attack
- ASIAUN chief stresses need for dialogue with DPRK
Most Viewed News