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.
- ECONOMYTurkish bus company plans production in US
- ENERGY53 percent of Turks take no energy efficiency steps to reduce winter bills: Survey
- TURKEYSyrian forces near Turkish border, as around 30,000 Syrians mass at border
- MIDDLE EASTWest to blame for migrant crisis: US rights group
- TURKEYAKP moves to nominate Turkish town hosting Syrians for Nobel Prize
Most Viewed News
- 1TURKEYTurkish President angry with US visit to PYD ‘terrorists’
- 2TURKEYTurkey sends in aid for stranded Syrian refugees
- 3TURKEYErdogan: U.S. should choose between Turkey, Syrian Kurds
- 4TURKEYTurkey to take in more Syrians as numbers surge on border
- 5TURKEYTurkey had to take in 3 million migrants: Deputy PM