• $ 1.7
  • € 1.9944
  • ₽ 0.021616
  • ₺ 0.0426
  • £ 2.334

SOCAR vice president blames USA for falling oil prices

SOCAR vice president blames USA for falling oil prices
26.12.2014 14:30
The sharp decline in crude oil prices in the past few months was caused by US policies against Russia and Venezuela, according to Suleyman Qasimov, SOCAR vice president for economic affairs.

"It is my subjective view that the price decline was prompted by political reasons,” Qasimov told reporters in Baku on December 25. "This happened because of US policies against Russia and Venezuela.”

Qasimov said SOCAR would lose approximately 400 million manat next year if oil prices remain around $60 a barrel.

The company will not be affected that much as it uses most of its oil output for domestic consumption and exports only a small portion of it, he said.

SOCAR will not postpone its major transportation projects such as Tanap as the project is being funded from Azerbaijan’s State Oil Fund (Sofaz), Qasimov said.
 
ANN.Az


Similar news
Similar news
Greek energy minister to visit Azerbaijan
08:42
Greek energy minister to visit Azerbaijan
Azerbaijan's SOCAR seeks company to check feasibility of Albania gas project
08:10
Azerbaijan's SOCAR seeks company to check feasibility of Albania gas project
Gazprom’s dwindling clout
06:07
Gazprom’s dwindling clout
Turkey may sell TANAP shares to Iran
03:27
Turkey may sell TANAP shares to Iran
Azerbaijan, Kazakhstan agree to build TASIM’s underwater segment
01:17
Azerbaijan, Kazakhstan agree to build TASIM’s underwater segment
Lafazanis: Greece supports construction of TAP, IGB
21:10
Lafazanis: Greece supports construction of TAP, IGB
Azerbaijan joins China-led regional lender as founding member
17:00
Azerbaijan joins China-led regional lender as founding member
Maire Tecnimont to build polypropylene plant in Sumqayit
12:30
Maire Tecnimont to build polypropylene plant in Sumqayit
Azerbaijan is quite successful in tackling corruption – EBRD
21:00
Azerbaijan is quite successful in tackling corruption – EBRD
Anews TV

Our official Youtube channel

Subscribe