Bank Of Baku

BTC shareholder continues to reduce investments

BTC shareholder continues to reduce investments
# 23 September 2016 09:17 (UTC +04:00)

Baku - APA-Economics. France’s Total will continue to reduce investments and expenditures to preserve profitability.

 

In 2017, the expenditures will be reduced to $15-17 billion from $18-19 billion. However, the company will reduce operating expenditures $2.4 billion this year, $3 billion in 2017 and $4 billion in 2018.

 

In order the company to operate on profit in 2017, the Brent crude should rise to $55.

 

Total holds 5%equity in Baku-Tbilisi-Ceyhan pipeline.

 

 

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THE OPERATION IS BEING PERFORMED