EITI Coalition in Azerbaijan proposed annual reporting on EITI.

November 11, “Increasing Transparency in Extractive Industries” Coalition of Azerbaijan prepared its review of the 13th audit report on EITI covering the period of January 1 to June 30, 2010.
3 main recommendations were proposed for improving the situation on EITI.

1. Coalition considered aggregated reporting did not allow to deep monitoring and investigation of oil revenues thus proposed disaggregated reporting system staring from 2011.

2. The Coalition proposed annual EITI reporting, instead of existing semi-annual.

3. Another recommendation was on adoption of law on “EITI”, which in its term would improve the problems related to delays in providing EITI report by companies, joining of new companies to EITI initiative, obligatory disaggregated reporting and wider disclosure of EITI reports. The Coalition proposed to discuss this issue within MSG and expressed readiness to present draft law on “EITI”.