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BAKU: Billions to flow into Azeri budget from oil revenues

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  • BAKU: Billions to flow into Azeri budget from oil revenues

    News in brief Compiled and written by Zulfugar Agayev
    ANS

    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.

    525 NEWSPAPER

    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.

    ECHO

    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.

    YENI MUSAVAT

    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
    office.


    Programming by Ayten Alizadeh. Copyight by IntraNS.
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