During the fiscal year covered the EITI Report there were some reforms applied to the extractive industry:
As per “On regulation of tariffs of petroleum products across the country”, the Tariff (Price ) Council Decision No.14, dated 23 November 2015 and the amendments to the Tariff (Price) Council Decision No.2, dated 14 January 2015 new tariffs related to sales of oil products across the country were introduced.28 On the basis of the Decree on the establishment of “AzerGold” Closed Joint-Stock Company (CJSC)” signed by the President of the Republic of Azerbaijan on 11 February 2015,29 the President of Azerbaijan Republic signed another Decree on “The study, research, exploration and development of Garadagh, Chovdar, Geydag, Dagkesemen ore mines, Kohnemadan field and deposits of Kurekchay Basin located in the Republic of Azerbaijan” on 25 May 2016. “AzerGold” CJSC was instructed to ensure efficient management and study, research, exploration and development of the deposits mentioned above after relevant purchase and sale arrangements specified in the Decree. 30
