SOCAR facing lawsuit
Azerbaijan`s state oil company, SOCAR, has been
failing to submit its reports on the Extractive Industries
Transparency Initiative (EITI), the head of the NGO Coalition on
EITI has said, warning that the group was preparing to take the
company to court.
"Since December 2007, we have received no replies from the company to several queries regarding the submission of the reports," Gubad Ibadoglu said. "As for verbal exchanges, SOCAR sources said the company was not obliged to respond to our queries, as this is not envisioned by the law."
The Coalition, established in May 2004, regularly receives reports from oil companies operating in Azerbaijan.
The Transparency Initiative was announced by British Prime Minister Tony Blair in September 2002 to increase the transparency of payments of oil, gas and mining companies made to the government and state revenues from extractive industries. Azerbaijan joined the Initiative in June 2003.
"Since December 2007, we have received no replies from the company to several queries regarding the submission of the reports," Gubad Ibadoglu said. "As for verbal exchanges, SOCAR sources said the company was not obliged to respond to our queries, as this is not envisioned by the law."
The Coalition, established in May 2004, regularly receives reports from oil companies operating in Azerbaijan.
The Transparency Initiative was announced by British Prime Minister Tony Blair in September 2002 to increase the transparency of payments of oil, gas and mining companies made to the government and state revenues from extractive industries. Azerbaijan joined the Initiative in June 2003.
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