Bank Of Baku

Minister: If oil prices continue to stay at current level, it will create difficulties for megaprojects

Minister: If oil prices continue to stay at current level, it will create difficulties for megaprojects
# 02 June 2016 08:43 (UTC +04:00)

According to him, the decline of oil price depends on several factors: “Geopolitical factors affected the oil price. Production in Iraq and Libya reduced due to the war. If this situation continues, the oil companies will suspend their projects, drilling and production will decline”.

 

Speaking about impact of this situation on Azerbaijan, the minister added that these processes have a minimum impact on our country: “We are trying to reduce dependence on oil and achieve it”.

 

 

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