(together with T.A.Pashayev).

Baku: Elm (Science), 2000. 200 pages.

ISBN 5-8066-1289-9.

It is signed in a seal 25.12.2000. Format 84 x108 ¹/_32.

Volume 12,5 pp. Circulation 300.

Scientific editors:          the doctor of economic sciences                               A.H.Nuriev

                                   the doctor of economic sciences, professor               A.A.Aqaeva

Reviewers:                   the doctor of economic sciences                               N.A.Nabiev

                                   Ph. D. in economics                                                A.B.Sariev

                                                                                                               T.А.Pashayev

The monograph by E.M.Hajizadeh and T.A.Pashayev “Way of formation of the new market mechanisms in the oil&gas industry” is dedicated to the actual subject of economic reforms initiated in the native oil industry as well as to the formation processes of the new market institutions. The topicality of the subject is also confirmed by the fact that the authors have for the time analysed the modern state, development tendencies and economic aspects of sustainable development of the oil&gas industry inAzerbaijanfrom the point of view of the modern market reguirements. They have also analysed problems related to taxation system improvement and the role of the tax mechanisms in increasing of production, and they arrived at appropriate conclusions. The monograph advanced to the front the new realities that arose as a result of deepening and improving of the reforms, it substantiated the necessity for structural changes in total and implementation of the management systems. The monograph talks on the issues of restructuring depreciation in compliance with financial-taxation strategy principles and their adaptation to the international standards.

On the basis of application of efficient market mechanisms to the oil&gas industy on the stage of the reforms the monograph makes the following conclusions:

m modern conditions, development tendencies, existing infrastructure and oil&gas industry potentials are viewed in the light of the new reality;

m it analysed in general and in particular fragments the integration processes, world oil market, pricing tendencies, energy policy and post-oil strategy of producing countries; the recommendations on oil&gas industry development prospects have been made and supplied with concrete examples;

- importance of the contracts with foreign oil capitals and development of oil business in the Republic for national economy rebirth;

- substantiated the structural rerorms in the oil&gas industry, proposals on usage of energy instruments in management have been made;

- the qyestions of efficiency increase in gas sector as well as acquired features of rational usage of resources have been inquired into.