Low oil prices affect some oil projects in Azerbaijan

Low oil prices affect some oil projects in Azerbaijan
# 23 December 2008 15:58 (UTC +04:00)
Baku. Ramil Mamedli - APA. The State Oil Company of Azerbaijan (SOCAR) has postponed some investment projects for an indefinite period because of falling oil prices on the world markets.
SOCAR President Rovnag Abdullayev said the drop in oil prices affects the timing of investment projects.
“We are considering all options, to prioritize what should be done first,” he added.
He noted that the financial crisis and low oil prices didn’t affect the reconstruction of Petkim petrochemical complex the company acquired in Turkey.
According to him, all work related to Petkim has continued to progress on schedule.


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