BAKU: Billions to flow into Azeri budget from oil revenues

News in brief Compiled and written by Zulfugar Agayev

Billions to flow into Azeri budget from oil revenues

Azerbaijan’s State Oil Fund has prognosticated the amount of money the
country may make from oil revenues in the next 20 years.

According to the calculations of the oil fund, Azerbaijan will earn $15.2
billion by 2024 if the price for one barrel of oil equals $16. That figure
could rise up to $33 billion if the oil price is $20.

In the case of one barrel of oil costing $24, the oil fund said Azerbaijan
would make $48.5 billion in the 20 years to come. The money allocated from
the Azerbaijan State Oil Company (SOCAR) to the state budget is not included
in the prognostications.

At present, the world market prices for Azerbaijan’s oil ranges between $33
and $34 per barrel.

Azerbaijan may recognize Turkish Cyprus
President Ilham Aliyev, who is on an official visit to Turkey, said on
Thursday that Azerbaijan would recognize the North Cyprus Turkish Republic
if the Turkish Cypriots say yes and the Greeks say no to the Kofi Annan plan
in the upcoming referendum, which is set for 24 April.”We will support the
position of Turkey whatever it will be. The citizens of North Cyprus are our
brothers,” President Aliyev said, adding, “We don’t want tragic events to be
repeated again.”

“We will evaluate the results of the referendum from an international
perspective. Azerbaijan will be among the first to recognize the
independence of the North Cyprus Turkish Republic,” Aliyev said.

The President said it was up to the Turkish Cypriots to determine their own
destiny, adding that he would respect their decision.


U.S. insists on lifting embargo

The U.S. ambassador to Azerbaijan, Reno Harnish, said that his country would
insist on Turkey ending its blockade of Armenia. In his meeting with a group
of local reporters on Wednesday, Harnish said that lifting of the blockade
would be beneficial both for Turkey as well as for the region as a whole.

However, the ambassador said his country’s position on the Nagorno
(Daghig)-Karabakh problem should also be taken into account on thus issue.

Harnish said that the U.S. government would not be supportive of Azerbaijan
if the latter were to resort to military means to liberate its territories.

“Azerbaijan is on the way to prosperity,” he said, explaining that the
resumption of warfare would be a stumbling block on the way to prosperity
and it also would lead to a tense situation in the region.

Harnish pointed out that the U.S. is interested in finding a fair solution
to the Karabakh problem and that peace negotiations are the best way to
reach a solution.

Burchard to leave

Peter Burchard, head of the OSCE’s Baku office, is due to finish his
diplomatic mission in Azerbaijan in mid-May. The OSCE’s Baku office told
Turan that the mandates of the body’s representative are prolonged every six
months. Since Burchard is going to head one of Sweden’s diplomatic missions,
he has asked not to protract his term at the Baku office.

Burchard has been heading the Baku office since December 2001.


New stadium in Khankendi

The Mayor’s office of Marcel, France, along with the ministry of education,
culture and sports of the so-called republic of Nagorno (Daghig)-Karabakh is
planning to build a stadium in Khankendi, the center of the breakaway former
autonomous region within Azerbaijan.

Also the money that will be made from 4 September friendly football match
between Marcel’s Olympic club and the Armenian national team is going to be
allotted to the construction of the stadium, according to Azad Artsakh
newspaper of the Karabakh separatists.

The stadium will cost about $350 million.


Opposition party sues Mayor’s office

The opposition Azerbaijan National Independence Party (AMIP) has sued the
Baku Mayor’s office, Turan reported. AMIP accuses the Mayor’s office for its
reluctance to meet the party’s repeated requests for permission to hold
protest actions. The plaintiff believes that the city authorities’ failure
to let them hold protest actions goes against the law on political parties
and also against the Constitution.

A statement by AMIP says that the planned actions were to protest against
the Economic Development Ministry’s refusal to provide the party with an

Programming by Ayten Alizadeh. Copyight by IntraNS.